FuelCell
Energy Appoints New Director to Its Board
Christof von Branconi,
EVP & COO of Tognum AG, Replaces Retiring Board Member, Michael Bode, CEO
of CFC Solutions GmbH
DANBURY, Conn., Dec
20, 2007 (PrimeNewswire via COMTEX News Network) -- FuelCell Energy, Inc. (Nasdaq:FCEL),
a leading manufacturer of high efficiency, ultra-clean power plants for
commercial, industrial, municipal and utility customers, today announced the
appointment of Christof von Branconi, 47, EVP and COO of Tognum AG's Onsite
Energy Systems & Components Division, to its Board of Directors. Mr. von
Branconi joins FuelCell Energy's Board as Mr. Michael Bode, CEO of CFC
Solutions GmbH (a wholly-owned subsidiary of the Tognum Group), retires from
the Board after 14 years of service.
Germany-based Tognum
AG is one of the world's leading suppliers of high-speed diesel engines and
complete propulsion systems for ships, heavy land and rail vehicles as well
as decentralized energy systems and industrial drive systems. Tognum employs
more than 8,000 people worldwide and, in 2006, the Group generated revenue of
around EUR 2.5 billion. Its Munich-based subsidiary CFC Solutions GmbH
provides ultra-clean stationary, onsite generation systems and is FuelCell
Energy's distribution partner for Europe. CFC Solutions markets the
HotModule(r) which uses FuelCell Energy's Direct FuelCell(r) (DFC(r))
technology with CFC Solutions' balance of plant system.
"We welcome Mr.
von Branconi to our Board of Directors and look forward to working with
him," said R. Daniel Brdar, Chairman and CEO of FuelCell Energy. "His
depth of experience successfully managing heavy equipment businesses
worldwide will be very helpful to us as we continue to expand our business
domestically as well as abroad."
Prior to Tognum AG,
Mr. von Branconi was the Chief Operating Officer for Lurgi AG, a Frankfurt,
Germany company specializing in chemical plant engineering, including
renewables, synthesis gas, hydrogen, carbon monoxide as well as sulfur
recovery. Mr. von Branconi's prior roles at Lurgi included Manager of
Controlling and Business Development. He was a regional director for
ThyssenKrupp HiServe in Oberhausen, Germany as well as COO and CFO on the
Executive Board for Technology and Commercial at Polyamid 2000 in
Brandenburg, Germany.
"We thank Mr.
Bode for his dedicated service," Mr. Brdar commented. "He was a
valuable counselor during his long tenure as we transitioned from a research
and development contracts company to a commercial manufacturer of fuel cell
power plants and we owe him a debt of gratitude."
About FuelCell Energy
Inc.
FuelCell Energy is the
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(r) 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 our website at www.fuelcellenergy.com.
This news release contains forward-looking statements, including
statements regarding the Company's plans and expectations regarding the
continuing development and commercialization of its fuel cell technology. All
forward-looking statements are subject to risks and uncertainties that could
cause actual results to differ materially from those projected. Factors that
could cause such a difference include, without limitation , general risks
associated with product development, manufacturing, changes in the utility
regulatory environment, potential volatility of energy prices, rapid
technological change, competition, and the Company's ability to achieve its
sales plans and cost reduction targets, as well as other risks set forth in
the Company's filings with the Securities and Exchange Commission. The
forward-looking statements contained herein speak only as of the date of this
press release. The Company expressly disclaims any obligation or undertaking
to release publicly any updates or revisions to any such statement to reflect
any change in the Company's expectations or any change in events, conditions
or circumstances on which any such statement is based.
This news release was distributed by PrimeNewswire, www.primenewswire.com
SOURCE: FuelCell Energy, Inc.
FuelCell Energy, Inc.
Lisa Lettieri
203-830-7494
ir@fce.com