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FCEL News FuelCell Energy Establishes Worldwide Marketing and Distribution Agreement with The Linde Group

DANBURY, Conn.--(BUSINESS WIRE)--FuelCell Energy, Inc. (NasdaqNM:FCEL), a leading manufacturer of ultra-clean and efficient electric power generation plants for commercial and industrial customers, today announced formation of a marketing and distribution agreement with The Linde Group, a €12 billion worldwide market leader in industrial gases and engineering with business in over 70 countries around the globe.

Under terms of the agreement, which goes into effect immediately, Linde gains the non-exclusive right to sell and market Direct FuelCell® (DFC®) power plants worldwide except where FuelCell Energy already has granted exclusive distribution agreements. Linde will focus initially on DFC opportunities in North America that fit into its overall strategy of developing sustainable energy solutions and providing low-carbon distributed generation solutions to industrial, commercial and governmental customers, with longer term plans to leverage this relationship into other geographies where Linde has market leadership.

In the United States, Linde expects to market fuel cell power plants that operate on biogas, which qualify as renewable energy sources. DFC units can run on any hydrocarbon fuel source, including renewables like ethanol, anaerobic digester gas (generated in wastewater treatment) and other biofuels, as well as propane and methane. A third of FuelCell Energy’s currently installed or backlog units rely on biofuels or renewables like anaerobic digester gas.

“Linde is committed to renewable energy,” said Bruce Ludemann, FuelCell Energy’s Senior Vice President of Sales and Marketing. “By partnering with them we greatly extend our reach on a global scale, into new markets where we haven’t previously had distribution channels. With Linde’s vast experience in gas processing, we can work together toward opening many new markets using renewable fuels.”

John Carolin, Deputy Head of Innovation Management for The Linde Group, added, “Creating new options for renewable fuels and fuel cell power generation, with a leader in fuel cell manufacturing like FuelCell Energy, allows Linde to match our competencies in gas processing and handling with our desire to make a significant contribution to the sustainable energy arena. As a leading player in the development of the hydrogen economy, we see developments in these areas as extremely complementary to our overall strategy in the area of sustainable energy solutions.”

Linde has established a strong presence developing sustainable energy solutions through technological innovation and participation in collaborative demonstration projects and alliances. Its initiatives include:

• Alternative fuels – hydrogen and other sustainable replacements for gasoline, diesel and fuel oil.
• Green power -- sustainable distributed generation solutions for industrial and commercial customers.

• Packaged energy -- delivered hydrogen, LPG and other fuels to meet small-scale sustainable energy needs.

FuelCell Energy maintains an existing relationship with Cryostar, a wholly owned subsidiary of Linde, which focuses on pumps, turbines and cryogenic equipment for industrial gases, natural gas, liquefied natural gas and other hydrocarbon fuel sources. Cryostar currently supplies expander turbines for FuelCell Energy’s DFC-ERG product, targeted for megawatt-class natural gas pipeline applications. Expansion of the business relationship to Linde affirms the three companies’ commitment to clean energy generation and affirms the success of their partnership on several projects to date.

About FuelCell Energy, Inc.

FuelCell Energy develops and markets ultra-clean power plants that generate electricity with higher efficiency than distributed generation plants of similar size and with virtually no air pollution. Fuel cells produce base load electricity giving commercial and industrial customers greater control over their power generation economics, reliability and emissions. Emerging state, federal and international regulations to reduce harmful greenhouse gas emissions consider fuel cell power plants in the same environmentally friendly category as wind and solar energy sources -- with the added advantages of running 24 hours a day and the capacity to be installed where wind turbines or solar panels often cannot. Headquartered in Danbury, Conn., FuelCell Energy services over 50 power plant sites around the globe that have generated more than 150 million kilowatt hours, and conducts R&D on next-generation fuel cell technologies to meet the world’s ever-increasing demand for ultra-clean distributed energy. For more information on the company, its products and its worldwide commercial distribution alliances, please see www.fuelcellenergy.com.

About The Linde Group

The Linde Group is a world leading industrial gases and engineering company with more than 53,000 employees working in around 70 countries worldwide. The company has gases and engineering sales of approximately €12 billion. The strategy of The Linde Group is geared toward earnings-based growth and focuses on the expansion of its international business with forward-looking products and services.

For further information please visit www.linde.com.

This news release contains forward-looking statements, including statements regarding the Company’s plans and expectations regarding the 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, the risk that commercial field trials of the Company’s products will not occur when anticipated, general risks associated with product development, manufacturing, changes in the utility regulatory environment, potential volatility of energy prices, rapid technological change, and competition, 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.