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FuelCell Energy (FCEL) Participating In Fuel Cell Landfill Gas Project At Canada Landfill

 February 28, 2013 11:03 AM
 


(By Balachander) FuelCell Energy Inc. (NASDAQ: FCEL) has announced a contract to convert landfill gas to ultra-clean electricity, heat and renewable hydrogen and that it will demonstrate a tri-generation stationary fuel cell power plant at a landfill in Vancouver, Canada.

The stock, which has been trading in the 52-week range of $0.83 to $1.95, rose 3.99 percent to trade at $1.04 on Thursday.

Danbury, Connecticut-based FuelCell Energy makes ultra-clean stationary fuel cell power plants that generate electricity with up to twice the efficiency of conventional fossil fuel plants.

The company claims its Direct FuelCell (DFC) power plants have generated over one billion kilowatt hours (kWh) of power generated and currently has over 50 installations worldwide.

[Related -Top Insider Buy Stocks: AGCO, ASBC, FCEL, FWM, JPM, RALY]

The company said the project provides its first opportunity to show the application of its DFC technology with renewable landfill gas as well as advancing its hydrogen co-production technology.

According to FuelCell, the landfill for the City of Vancouver, Canada has an advanced gas collection system. Using the landfill gas to generate ultra-clean power converts a waste disposal problem into an environmentally friendly source of revenue.

The company said it expects power production to begin in early 2014. Power generation from a fuel source such as landfill gas is typically considered carbon-neutral due to the renewable nature of the fuel source.

A successful project demonstration could potentially lead to additional projects at this landfill as well as other landfills, FuelCell said.

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