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FuelCell Energy Announces Solid Oxide Electrolysis and Fuel Cell Platform to Improve Control and Flexibility of Energy Investments
Modular platform optimized for low-cost production of clean hydrogen and power DANBURY, Conn., Dec. 06, 2022 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc.
About this update from Fuelcell Energy, Inc.
[{"type":"text","content":"Modular platform optimized for low-cost production of clean hydrogen and power\nDANBURY, Conn., Dec. 06, 2022 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. (Nasdaq: FCEL) today announced it is accepting orders for its solid oxide electrolyzer and solid oxide fuel cell platform. The platform will give more organizations the option to implement a flexible energy strategy in order to: Start their energy transition today knowing they can shift to 100% zero-carbon hydrogen in the future.Produce clean hydrogen for use or storage from zero-carbon renewable or nuclear power, managing the peaks and valleys of renewables and providing flexibility to nuclear energy production.Create energy from any combination of available sources — from renewables, hydrogen, biogas, or natural gas.Provide continuous power and reduce grid dependence, co-locating generation and use wherever possible. Lowering the cost of hydrogen production The largest factor in the cost of electrolysis-produced hydrogen is the cost of electricity. Consequently, efficiency is one of the most effective ways to lower cost. We believe FuelCell Energy’s solid oxide platform is among the most efficient available electrolysis technologies. This is expected to translate to a 20 to 30% lower cost of hydrogen compared to lower efficiency and low-temperature electrolysis. We believe our solid oxide platform offers one of the best chances of achieving the $1 USD per kg levelized cost of hydrogen targeted by the U.S. Department of Energy (DOE) by 2050. The platform operates at about 90 percent electrical efficiency (HHV), and is capable of 100 percent electrical efficiency (HHV) when paired with available excess heat from industrial or nuclear facilities. Lower temperature electrolysis technologies currently available operate at significantly lower efficiency and are not capable of utilizing the excess heat to increase efficiency. FuelCell Energy’s electrolysis technology is under evaluation at the U.S. Department of Energy’s Idaho National Laboratory (INL), which is conducting stack tests to evaluate performance and durability. INL is the nation’s leading center for nuclear energy research and development, and also performs research in each of DOE’s strategic goal areas: energy, national security, science, and the environment. \"The stack has performed well across a broad range of conditi...