Connecticut Governor Rell Announces $4 Million for FuelCell Energy Expansion

January 16, 2008 -- Connecticut Governor M. Jodi Rell today announced that the state will provide a $4 million loan to FuelCell Energy Inc. to expand its Torrington plant. The $10 million project will add 100 jobs and advance the Governor’s Connecticut Energy Vision for a Cleaner, Greener State.

Danbury-based FuelCell Energy, a leading manufacturer of fuel cell power plants, plans to enlarge and update its Torrington facility to keep pace with an anticipated surge in demand for fuel cells. Fuel cells produce ultra-clean energy with greater efficiency and lower environmental emissions than traditional energy sources. The project will incorporate the purchase of capital equipment, expansion of FuelCell Energy’s work force and extension of its facility lease through 2015.

“This project is right for Connecticut, right for our economy and right for our energy needs,” Governor Rell said. “We will be adding 100 jobs to our economy, bolstering a Connecticut company that is making strides to decrease our dependence on foreign fossil fuels and enhancing our position in an important industry. Connecticut is a pioneer in fuel cell technology and this project will help ensure we continue to be a leading innovator in this high-tech sector.”

Governor Rell unveiled her Energy Vision in September 2006. The wide-ranging plan outlines measurable ways to reduce the cost of energy for consumers and businesses, strengthen state energy policy over the long- and short-term and reaffirm Connecticut’s position as a leader in renewable energy and energy efficiency.

“My Energy Vision calls for 20 percent of all the energy used and sold in the state to come from clean or renewable resources by the year 2020,” the Governor said. “Companies like FuelCell Energy can help us achieve this goal.”

FuelCell Energy, which currently employs 467 people, will add positions over a 3-year period. The state financing will enable additional equipment purchases to increase production capacity in Torrington to 60 megawatts annually.

“We thank Governor Rell, the State of Connecticut, the Department of Economic and Community Development and the Connecticut Development Authority for their support,” said R. Daniel Brdar, Chairman and CEO of FuelCell Energy. “Our fuel cells – which are highly efficient, operate 24/7 and produce near-zero pollutants and low CO2 – can help the state reach its clean and renewable goals for power generation.”

DECD) and CDA are providing a joint loan for machinery and equipment, building improvements and information technology expenses. CDA’s Board of Directors approved the $4 million in financial assistance today.

About FuelCell Energy Inc.

FuelCell Energy (NASDAQ: FCEL) is a world leader in the development and production of stationary fuel cells for commercial, industrial, municipal and utility customers. FuelCell Energy’s ultra-clean and high efficiency DFC fuel cells are generating power at over 50 locations worldwide. The company’s power plants have generated more than 200 million kWh of power using a variety of fuels including renewable wastewater gas, biogas from beer and food processing as well as natural gas and other hydrocarbon fuels. FuelCell Energy has partnerships with major power plant developers, trading companies and power companies around the world. The company also receives substantial funding from the U.S. Department of Energy and other government agencies for the development of leading-edge technologies such as hybrid fuel cell/turbine generators and solid oxide fuel cells. For more information, please visit www.fuelcellenergy.com.

Source: Connecticut Governor

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