FuelCell Energy, Inc. (NasdaqGM:FCEL), a manufacturer of high efficiency, ultra-clean power plants for commercial, industrial, municipal and utility customers, today announced that it has received a $4 million loan from the state of Connecticut.
The loan is part of the company’s $10 million project to expand FuelCell Energy’s Torrington, Connecticut manufacturing facility, expand its workforce and extend its facility lease through 2015.
The Department of Economic and Community Development and the Connecticut Development Authority are providing a joint loan for machinery and equipment, building improvements and information technology expenses, according to a company release. The $4 million loan is being granted pursuant to Governor Rell’s Connecticut Energy Vision for a Cleaner, Greener State which calls for 20% of all energy used and sold in the state to come from clean or renewable resources by 2020.
About FuelCell Energy Inc.
FuelCell Energy is a leader in the development and production of stationary fuel cells for commercial, industrial, municipal and utility customers. FuelCell Energy’s DFC(r) fuel cells are generating power at over 40 locations worldwide. The company’s power plants have generated more than 200 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, trading companies and power companies around the world. The company also receives substantial funding from the US Department of Energy and other government agencies for the development of leading edge technologies such as hybrid fuel cell/turbine generators and solid oxide fuel cells.
Loading...