FuelCell Energy secured 70MW of fuel cell order in May 2011, and the order requires monthly shipments of 2.8MW beginning in October 2011 and continuing through October 2013 to fulfill demand in the South Korean marketplace for ultra-clean, efficient and reliable fuel cell power generation.
FuelCell Energy COO Tony Rauseo said the 70MW contract was structured with payments due in the third and fourth quarters of this year and subsequent progress payments, and both parties are meeting the contractual obligations.
"Higher production volume enabled by this 70MW contract is helping us realize lower cost targets both in manufacturing and with our supply chain," Rauseo said.
Direct FuelCell power plants provide ultra-clean, efficient and reliable power, the plants generate electricity and usable high quality heat via an electrochemical process.
FuelCell Energy is a provider of ultra-clean baseload distributed generation to utilities, industrial operations, universities, municipal water treatment facilities, government installations and other customers around the world.
