FuelCell Plant to Generate Base Load Electricity for CA. Navy Training Center

FuelCell Energy, Inc. (NasdaqNM:FCEL), a leading manufacturer of ultra-clean power generation plants for commercial and industrial customers, today announced the sale of a 500 kilowatt (kW) Direct FuelCell (DFC) power plant to LOGANEnergy for the US Navy for anticipated use at the U.S. Marine Corps Base, Camp Pendleton, in California. LOGANEnergy will install the power plant, consisting of two 250 kW DFC300MA(TM) units, to provide base load electricity and heat energy for a Bachelor Enlisted Quarters (BEQ) that houses over 200 Marines and a Mess Hall that serves over 400 personnel daily at Camp Pendleton. The power plant is scheduled to be up and running in late calendar year 2006. FuelCell Energy’s distribution partner LOGANEnergy will serve as prime contractor overseeing installation and operation of the DFC power plants and will also subcontract maintenance services to FCE under a multi-year service contract. The federal government will have the opportunity to purchase two additional units and raise the fuel cell capacity on the Base to 1 megawatt. The fuel cell installation may also be eligible to receive up to $1.25 million from the State of California Self Generation Incentive Program. Marine Corps Base, Camp Pendleton has always been proactive in energy […]

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Hoku Scientific, Inc. Reports 3rd Profitable Quarter Results

Hoku Scientific, Inc. (NasdaqNM:HOKU), a designer, developer and manufacturer of membrane electrode assemblies (MEAs) and non-fluorinated membranes for proton exchange membrane (PEM) fuel cells, announced its financial results for the second quarter ended September 30, 2005. Revenue for the quarter was $1.3 million, compared to none in the quarter ended September 30, 2004. Revenue for the six months ended September 30, 2005 was $2.4 million, compared to $100,000 for the same six month period in 2004. Total deferred revenue, which is attributable to contracts with Nissan Motor Co., Ltd. and the U.S. Navy, declined to $2.7 million at September 30, 2005 compared to $4.2 million at March 31, 2005 primarily due to the recognition of $1.3 million of deferred revenue related to contracts with Nissan Motor Co., Ltd. Net income for the quarter ended September 30, 2005 was $349,000, or $0.02 per diluted share, compared to a net loss of $799,000, or $0.15 per diluted share for the quarter ended September 30, 2004. Net income for the six months ended September 30, 2005 was $690,000, or $0.05 per diluted share, compared to a net loss of $1.5 million, or $0.29 per diluted share for the same six month period in […]

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