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FuelCell Energy, ExxonMobil Extend Joint-Development Agreement for Carbon Capture Technology
Joint Development Agreement extended through April 2022 to further develop carbonate fuel cell technology for large-scale carbon captureAdvanced scope and
About this update from Fuelcell Energy, Inc.
[{"type":"text","content":"Joint Development Agreement extended through April 2022 to further develop carbonate fuel cell technology for large-scale carbon captureAdvanced scope and timing discussions for pilot test at ExxonMobil location in Rotterdam, the Netherlands, leveraging the Porthos North Sea projectFuelCell Energy’s proprietary technology is the only CO2 capture technology capable of simultaneously capturing carbon dioxide and producing power, which is anticipated to deliver cost and scale advantages DANBURY, Conn., Nov. 02, 2021 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. (Nasdaq: FCEL) -- a global leader in fuel cell technology with a purpose of utilizing its proprietary, state-of-the-art fuel cell platforms to enable a world empowered by clean energy—has signed a six-month extension with ExxonMobil to continue collaboration on carbonate fuel cell technology for the purpose of capturing carbon dioxide from industrial facilities and power generation. The agreement will now continue until April 30, 2022. The parties are discussing an ExxonMobil pilot in Rotterdam, the Netherlands, as well as potentially additional ExxonMobil or third-party locations, to deploy FuelCell Energy’s carbonate fuel cell platform to capture carbon dioxide emissions. A decision on the Rotterdam project is expected in 2022, dependent on achieving technical milestones over the next six months. In addition to pilot project deployments, FuelCell Energy and ExxonMobil are discussing the next phase of carbon capture development. “FuelCell Energy and ExxonMobil continue to advance our joint research and FuelCell Energy technology that is targeted to tackle one of the largest environmental challenges of today, CO2 emissions from power generation and industrial exhaust streams,” said Jason Few, president and chief executive officer of FuelCell Energy. “Together, we have a great opportunity to scale and commercialize our unique carbon capture solution, one that captures carbon dioxide from various exhaust streams, while generating additional power, unlike traditional carbon capture technologies, which consume significant power. We are encouraged by our results in testing capture of CO2, and the efficiencies and performance that our fuel cell stacks are able to achieve. We look forward to continuing our work with ExxonMobil on advancing the first pilot test of this platform solution...