October 17, 2012

FuelCell advances $3M carbon capture project

Danbury clean technology manufacturer FuelCell Energy, Inc. has entered the second phase of its $3 million carbon capture development project funded by the U.S. Department of Energy.

The project seeks to use the company's fuel cell technology to separate carbon dioxide emissions from coal-fired power plants.

FuelCell began the project in late 2011 after the Energy Department awarded the $3 million, and the research is expected to last to 2015. The grant money is awarded in phases; and by advancing to the second phase, FuelCell received $800,000 from the grant.

On Wednesday, FuelCell also announced the execution of a share purchase agreement for what will be the world's largest fuel cell park in South Korea.

The finalized agreement helps progress the 59 megawatt facility to completion by splitting ownership between South Korea's largest utility, financial investors, a gas distributor, and POSCO Energy, which is FuelCell's manufacturing partner in South Korea.

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