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Energy

Another Cal-State University Moves to Fuel Cell Power (FCEL)

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By Jon C. Ogg Published
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FuelCell Energy Inc. (NASDAQ: FCEL) is running higher this morning on news that Southern California Edison Company has ordered a 1.4 megawatt DFC1500 fuel cell power plant to install as a utility-owned fuel cell on the campus of California State University, San Bernardino.

The ultra-clean electricity generated by the power plant will interconnect into the existing SCE distribution grid without a commensurate investment in the transmission and distribution grid. An aim is to cut the reliance on the power grid and the DFC1500 installation will use natural gas as the fuel source to generate this ultra-clean electricity with virtually zero pollutants.

California State San Bernardino will become the fifth California university with a DFC installation, representing eight megawatts in total power generation capacity.  The unit is expected to be operational in early 2012.

No financial terms were disclosed.  Shares are still showing thin trading volume right before the open.  The initial news pop appeared to be up by double-digit percentages, but shares are up 4% at $1.82 right before the open.  The 52-week trading range is $0.98 to $3.40 and the market cap was $215 million at yesterday’s close.

JON C. OGG

Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. a673b.bigscoots-temp.com.

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