There was a time when the term “fuel cell” was linked almost exclusively with America’s space program. The fuel cells in space used hydrogen and oxygen to generate electricity for manned spacecraft, with the side benefit of producing drinking water. Few people will forget the near loss of Apollo 13 when a short circuit ignited oxygen inside a fuel cell tank. The resulting explosion crippled the craft, which eventually made it back to earth thanks to a level of creativity and intensity on the part of the crew and ground support personnel that can only be described as heroic. But fuel cells were around long before all that, and are now taking on a major role in more down-to-earth applications.

Fuel cells are electrochemical devices that convert a fuel, such as methanol or hydrogen, into electricity without burning. The principle behind the

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FuelCell Energy Inc. is a global leader in the development and production of stationary fuel cells with established partnerships with major power plant developers and power companies around the world. The company recently announced that California Governor Arnold Schwarzenegger signed legislation set to promote continued development and use of alternative energy technologies through 2015; in response, FuelCell said it expects the legislation to boost demand for its fuel-cell products.

Governor Schwarzenegger signed an extension to the Self-Generation Incentive (SGIP) program to extend funding for various clean energy technologies, including FuelCell’s ultra-clean stationary fuel cell power plants.

Since its inception in 2001, SGIP has provided support for roughly 15 megawatts of FuelCell’s Direct FuelCell power plants in California. The program was created to promote on-site production of electricity to alleviate strains on the state’s utility grid while reducing greenhouse gases.

“California has always led the way in the deployment of clean

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DANBURY, Conn - June 16, 2009 -- FuelCell Energy, Inc. (Nasdaq:FCEL) announced today that it entered into definitive agreements to sell 6.7 million shares of its common stock at $3.59 per share in a registered direct offering.

FuelCell Energy, Inc. (NASD: FCEL), the world leader in the development and production of stationary fuel cells for commercial, industrial, municipal and utility customers, recently reported the company’s financial results for its third fiscal quarter ended July 31, 2008. Shares of FuelCell Energy, whose ultra-clean and high efficiency DFC® fuel cells currently generate power at over 45 locations worldwide, declined late last week on the earnings announcement.

The company reported a 106 percent increase in revenues to $27.9 million for the fiscal third quarter, compared to $13.5 million during the same period one-year earlier; however, FuelCell’s net loss totaled $26.8 million, or a loss of $0.39 per basic and diluted share, compared to a net loss of $16.2 million, or a loss of only $0.24 per basic and diluted share, during the corresponding quarter in fiscal 2007.

According to R. Daniel Brdar, FuelCell Energy’s chairman and chief executive officer, the company

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In 1969, Bernard Baker and Martin Klein founded Energy Research Corporation (ERC). Baker, an early fuel cell pioneer, and Klein, a chemical engineer, felt the future in power generation lay in this area of research. In 1999, the company took their battery research division on its own as a separate company, and renamed it FuelCell Energy Inc.

Today, FuelCell Energy Inc. develops and produces stationary fuel-cell power plants for commercial, industrial, municipal, and utility customers. Their focus is to produce ultra-clean, safe, and high-efficiency fuel cells. Their “Direct FuelCell” (DFC) generates power at over 60 plants worldwide. Their DFC power plants have generated over 200 million kWs of power.

Headquartered in Danbury, Connecticut, FuelCell Energy Inc. trades on NASDAQ. They are part of the Industrial Electrical Equipment business sector. Their Danbury facility is also the center for their GTAC (Global Technical Assistance Center). This center remotely monitors and operates over 60 commercial

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