FuelCellsWorks

Expanding Credit Would Provide Boost, Creating Jobs Locally and Across State

LATHAM, N.Y.– Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean, reliable energy solutions, highlights progressive legislation unveiled by Senator Charles Schumer to amend section 30B of the Energy Policy Act of 2005, also knows as the Alternative Motor Vehicle Credit (AMVC).  The proposed legislation expands the definition of “fuel cell motor vehicle” to include fuel cell-powered material handling vehicles.

Expansion of this tax credit directly benefits Plug Power’s GenDrive™ product suite, developed and manufactured at its Latham, NY headquarters.  GenDrive is a superior alternative to lead-acid batteries as a power source for electric lift trucks. By converting operations to GenDrive hydrogen fuel cell power solutions, customers are able to increase productivity and lower operating costs with only heat and water as a byproduct.  Extending financial incentives to material handling vehicles will help facilitate large-scale conversions to green technology at manufacturing and distribution centers across the country.

Senator Schumer’s legislation would provide Plug Power and its suppliers with a significant boost and could create up to hundreds of jobs locally and through the state.  ”Senator Schumer’s progressive legislation sheds light on the remarkable affects that fuel cell market growth can bring to New York State,” said Andy Marsh, CEO at Plug Power.  ”By helping to commercialize sustainable fuel cell power solutions, thousands of green jobs will be created in manufacturing, engineering and the supply chain.”

“We have one of the world’s preeminent manufacturers of fuel cells right here, but due to arbitrary federal regulations, it is not able to compete on a level playing field,” said Schumer.  “That has to change.  Fuel cells save energy and help the environment regardless of whether they’re attached to a car or a forklift, and they should be treated equally.  By leveling the playing field, we have the potential to create hundreds of jobs here in the Capital Region, but also at fuel cell parts manufacturers all over the state.”

This proposed legislation was announced at a press conference held on Plug Power’s 37,000 sq. ft. manufacturing floor on Wednesday, June 2.  Also in attendance was Congressman Paul Tonko.  Tonko introduced a similar piece of legislation, the Fuel Cell Industrial Vehicle Jobs Act of 2010, on April 28, 2010.

“Fuel cell technology has gained widespread traction in the material handling industry because of the efficiency and productivity gains that are realized,” said Congressman Tonko.  ”Improving incentives for large scale conversions to this clean technology will lead to new investment and new jobs at companies like Plug Power in Latham.  I will continue to work with Senator Schumer on these common sense solutions that will create jobs and promote the use of clean energy.”

About Plug Power Inc.

The architects of modern fuel cell technology, Plug Power revolutionized the industry with cost-effective power solutions that increase productivity, lower operating costs and reduce carbon footprints.  Long-standing relationships with industry leaders forged the path for our key accounts, including Wegmans, Whole Foods, and FedEx Freight.  With more than 1,000 units in the field and over 1.5 million hours of runtime, Plug Power manufactures tomorrow’s incumbent power solutions today.  Visit us at www.plugpower.com.

Enters Into Contract With PG&E to Deliver 2.8 MW

DANBURY, Conn.– FuelCell Energy, Inc. (Nasdaq:FCEL) a leading manufacturer of high efficiency ultra-clean power plants using renewable and other fuels for commercial, industrial, government, and utility customers today announced that Pacific Gas and Electric Company (PG&E) has ordered two 1.4 Megawatt DFC1500 fuel cell power plants to install as utility-owned fuel cells on the campuses of California State University East Bay – Hayward Hills (CSU – East Bay) and San Francisco State University (SFSU). The total value of these contracts is approximately $12.6 million, which will include engineering, procurement and construction services for the installation of the power plants.

This order follows the recent approval by the California Public Utilities Commission (CPUC) for PG&E to pursue utility owned fuel cell installations at two California universities. The CPUC approval acknowledged that the installation of fuel cells on university campuses will help to advance the development and understanding of fuel cell technology. Further, the CPUC noted the important role of fuel cells in the State’s future energy mix, as illustrated by the support of Governor Schwarzenegger for fuel cell projects.

“Just as California is serving as a model for the rest of the nation in enacting ambitious policies to reduce climate change and our dependency on oil, these partnerships are also leading the way in moving us toward a cleaner, more sustainable future,” said Governor Schwarzenegger. “Fuel cells are another great resource to provide clean and efficient energy while reducing emissions. I applaud all of these groups for coming together and working towards a shared solution of helping to power these campuses with clean energy.”

The fuel cell power plants will be configured to utilize the by-products of the fuel cell energy conversion process, including waste heat and waste water to meet campus needs. CSU East Bay plans to utilize the waste heat for heating a swimming pool and utilize the waste water for landscape irrigation. SFSU plans to utilize the waste heat for facility management. The fuel cell plants are expected to be operational in 2011. In conjunction with the installation of the fuel cell power plants, the state universities are expected to incorporate fuel cell technology into their respective curriculums to teach students and the public about the benefits of fuel cell systems.

“We are excited to be working with PG&E to be providing a utility owned power generation solution that is highly efficient and ultra-clean,” commented R. Daniel Brdar, Chairman and CEO of FuelCell Energy, Inc. ”Universities are an ideal location for our fuel cell power plants, particularly with the Combined Heat & Power (CHP) application that captures the heat byproduct for use by the university. This type of CHP application has attained efficiency levels approaching 80%, well above alternate methods for generating electricity.”

About FuelCell Energy

DFC® fuel cells are generating power at over 50 locations worldwide. The Company’s power plants have generated over 500 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 and power companies around the world. The Company also receives funding from the U.S. Department of Energy and other government agencies for the development of leading edge technologies such as fuel cells. For more information please visit our website at www.fuelcellenergy.com

Schumer Legislation Would Expand Existing Tax Break to Cover Fuel Cells for Forklifts-Could Create Hundreds of Jobs

Current U.S. Tax Law Gives Boost to Fuel Cells Designed for Cars and Trucks – But It Excludes Fuel Cells For Forklifts and Other Off-Highway Vehicles

Schumer Legislation Would Expand Fuel Cell Tax Credit, Allow Plug Power to Compete on Equal Playing Field

Today, U.S. Senator Charles E. Schumer, joined by Congressman Paul Tonko, revealed that federal tax law gives short shrift to companies like Plug Power that build fuel cells designed for forklifts and other heavy machinery. An existing tax credit provides significant incentives to buyers of fuel cells for cars and trucks, but that credit does not include fuel cells designed for heavy machinery and off-highway vehicles. Today, Schumer unveiled legislation to expand the tax credit so it will cover the GenDrive fuel cells that Plug Power manufactures. Expanding the credit would provide Plug Power and its suppliers with a significant boost and could create up to hundreds of jobs locally and throughout the state. Schumer said that these types of fuel cells are big business and a major part of Plug Power’s future.

“We have one of the world’s preeminent manufacturers of fuel cells right here, but due to arbitrary federal regulations, it is not able to compete on a level playing field,” said Schumer.  “That has to change.  Fuels cells save energy and help the environment regardless of whether they’re attached to a car or a forklift, and they should be treated equally.  By leveling the playing field, we have the potential to create hundreds of jobs here in the Capital Region, but also at fuel cell parts manufactures all over the state.”

“Fuel cell technology has gained widespread traction in the material handling industry because of the efficiency and productivity gains that are realized,” said Congressman Paul Tonko. “Improving incentives for large scale conversions to this clean technology will lead to new investment and new jobs at companies like Plug Power in Latham. I will continue to work with Senator Schumer on these common sense solutions that will create jobs and promote the use of clean energy.”

“Senator Schumer’s progressive legislation sheds light on the remarkable affects that fuel cell market growth can bring to New York State,” said Andy Marsh, CEO at Plug Power Inc. “By helping to commercialize sustainable fuel cell power solutions, thousands of green jobs will be created in manufacturing, engineering and supply chain.”

Schumer’s proposal would amend section 30B of the Energy Policy Act of 2005- the Alternative Motor Vehicle Credit (AMVC) to expand the definition of “motor vehicle” to include heavy machinery and off-highway vehicles made with fuel cells, like the ones manufactured at Plug Power. The proposal would also require that manufacturers producing vehicles of less 8,500 pounds are eligible for the same tax credit that manufacturers of larger machinery receive. Extending the tax credit to buyers of these fuel cell products would boost an industry that is a proven job creator in New York State. By incentivizing the purchase of these vehicles, the legislation would allow local businesses like Plug Power to ramp up their operations and potentially add jobs. The Department of Energy currently estimates that the domestic fuel cell industry will create 40,000 jobs over the next ten years, but those jobs could be at risk if more domestic producers are not allowed the AMVC credit. Passing the tax credit will mean a break of between $8,000 and $40,000 for buyers.

Plug Power currently houses its national headquarters in Latham where it employs over 100 New Yorkers with plans to hire more. During 2010 the company intends to increase its workforce by 20% and has already begun to emerge as a national leader in fuel cell development. Since 1997, the company has worked to provide clean and renewable energy for customers worldwide by manufacturing fuel cells. Specifically, the company has become a national leader in the manufacturing of fuel cells for alternative commercial and industrial off-highway vehicles like forklifts.

Importantly, the success of companies like Plug Power have ripple effects throughout the economy, and it is important to consider this as the economic benefits of the tax credits are considered.  For example, Plug Power spends approximately $1.75 million on a total of 37 NY small business suppliers each year, and this figure is expected to double in 2010 and quadruple in 2011.

Schumer said that this legislation would also benefit a number of other New York companies, particularly the Raymond Corporation in Greene and Onondaga Counties, and Praxair in Tonawanda, in Western New York.  Raymond currently employees approximately 1,110 people at their Greene, NY and East Syracuse, NY facilities.  Praxair currently employs 1,100 people at their Tonawanda, NY facility.  They recently identified green hydrogen production as an area for market expansion and green job growth.  Both companies produce fuel cells for heavy machinery.

A fuel cell is an electrochemical device that combines hydrogen and oxygen to produce electricity, with water and heat as its by-product.  As long as fuel is supplied, the fuel cell will continue to generate power.  Since the conversion of the fuel to energy takes place via an electrochemical process, not combustion, the process is clean, quiet and highly efficient – two to three times more efficient than fuel burning.

According to assessments by the National Academies and the Hydrogen Technical Advisory Committee, fuel cell technology is not only meeting and exceeding the government’s long-term research and development plan, but it is also on track to achieve commercial viability by 2015. As the U.S. considers pathways to achieve aggressive goals for gas and greenhouse gas reductions, it is critical to develop diverse technological options, like fuel cells.

Other countries are aggressively pursuing hydrogen and fuel cells including Japan and Germany, which plan early commercialization in 2015. The U.S. is currently a leader in automotive fuel cell technology, but must continue to invest in this research to remain a leader, particularly in places like the Capital Region. Right now, the region is an emerging national hub for clean energy technologies and is home to production plants like Plug Power that employ many New Yorkers. Passing Schumer’s legislation would allow manufacturers like Plug Power to potentially add hundreds of jobs.

Arcola Theatre debuts spin-off venture that promises to bring an end to the festival season’s dirty energy secret

hey may be a great forum for freewheeling and idealistic environmental thinking, but it turns out most festivals are anything but green. Leaving aside the litter and the carbon footprint associated with thousands of revellers traveling to one site, each of the summer’s festivals will rely on hundreds of diesel generators to power the stages, tents and food stands.

But now London theatre company Arcola is looking to tackle the problem with the development of a zero-emission fuel cell-powered lighting rig that promises to provide the UK’s first low-carbon theatre and concert experience.

The Dalston-based theatre has launched a spin-off firm, Arcola Energy, that has just completed its first fuel cell system with the aid of a £27,000 grant from the UK’s Technology Strategy Board and it is now expected to be used at this summer’s Latitude Festival in Suffolk.

Speaking to BusinessGreen.com, Arcola Energy executive director Dr Ben Todd said the company had integrated technology from fuel cell developer and hydrogen supplier BOC and theatrical lighting specialist White Light to deliver a portable system for lighting technicians working in theatres, concert venues and festivals.

“We’ve taken off-the-shelf fuel cell technology and low-energy LED lights, added industry-standard connectors, control panels and battery backup power, and packed it all up in a standard flight case,” he explained, adding that the use of LED lights meant that a full lighting rig could be powered using one 150 watt fuel cell.

The company believes that even using hydrogen produced from natural gas the system will cut carbon emissions by between 60 and 80 per cent compared to diesel generators, while also cutting noise levels and onsite pollution.

“The smallest diesel generator you can get is usually much larger than what you need in a theatre or concert, so they end up proving very inefficient,” Todd added. “It’s almost like pouring diesel on the ground.”

The company is now looking to commercialise the technology and expects to price the system at about £5,000-£6,000 per unit, although White Light will also offer its customers the chance to hire the system for events.

It is also working on new theatre and concert applications for the fuel cell and is looking at developing a larger lighting rig based BOC’s larger 500 watt fuel cell. “The system can be easily adapted to run kiosks or other parts of the festival site and there is also potential for architectural lighting,” said Todd. “It is a niche market, but it’s a pretty big niche.”

The Technology Strategy Board’s David Bott praised the new system as a prime example of a company taking direct action to cut its own carbon emission and finding a way to commercialise its innovations. “This is a great story of a company taking ownership of its carbon emissions and applying its expertise to tackle the problem,” he said.

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