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World Biofuels
Symposium
November 13-15, 2005
Beijing, China
2nd Annual Canadian Renewable Fuels Summit
December 13-15, 2005
Toronto, Ontario, Canada
Hosted by:
Candadian Renewable Fuels
Association
National Biodiesel
Conference & Expo 2006
February 5-8, 2006
San Diego, California
Organizer:
National Biodiesel Board
11th Annual
National Ethanol Conference: "Policy & Marketing"
February 20-22, 2006
Las Vegas, Nevada, USA
Sponsored by:
Renewable Fuels Association
22nd
Annual International Fuel Ethanol Workshop & Expo
June 20-23, 2006
Milwaukee, Wisconsin, USA
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Posted on
October 2, 2000FuelCell Energy Announces Alliance With Enron North America
FuelCell Energy, Inc. (NASDAQ: FCEL) announced today that it has entered into an alliance with Enron North America, a wholly owned subsidiary of Enron Corp.(NYSE:ENE). FuelCell Energy and Enron will work together to develop and market FuelCell Energy's Direct FuelCell(R) products, focusing on state renewable and energy conservation programs.
In connection with the alliance, Enron has invested $5 million in the common stock of FuelCell Energy. Additionally, FuelCell Energy will issue warrants enabling Enron to purchase up to 1.3 million shares of FuelCell Energy common stock. Terms of these additional purchases have been negotiated between the companies and are contingent upon the sales of 55 MW of power generation utilizing FuelCell Energy products.
"Targeting state-sponsored renewable programs and energy conservation opportunities will accelerate the commercialization of our Direct FuelCell products in these 'early adopter' markets," said Jerry Leitman, president and chief executive officer of FuelCell Energy. "Alliances such as this will help bring reliable, cost effective and clean energy to the marketplace."
"This transaction enables us to reach the developing markets for clean energy and renewable energy, which may be served through distributed generation products, such as fuel cells and other emerging technologies," said Dave Delainey, president and chief executive officer for Enron North America.
Using carbonate technology, the DFC(R) power plant produces high efficiency energy through a chemical reaction, rather than through combustion. This revolutionary method of producing power gives energy users the option of producing electricity on site with the assurance of environmental compliance, less noise and with shorter timeframes required for the permitting process.
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