Connecticut Deal Powers FuelCell Shares

[jpak]

http://www.businessweek.com/investor/content/mar2007/pi20070327_955101.htm?chan=top+news_top+news+index_investing

FuelCell Energy (FCEL) said Mar. 27 that it won more than $200 million of business providing the Connecticut Clean Energy Fund with six power projects totaling around 68 megawatts, in the latest example of how alternative energy businesses continue growing.

So far the Danbury, (Conn.) company's power plants have generated more than 150 million kW of power using a variety of fuels including renewable wastewater gas, biogas from beer, onion, and milk processing as well as natural gas and other hydrocarbon fuels. In its recent agreement with the Connecticut Clean Energy Fund, FuelCell Energy will deliver more energy to entities in the state including the electric company Connecticut Light and Power, Stamford Hospital, Waterbury Hospital, and others.

Fuel cells provide power with virtually no emissions, quietly and economically. "These selections are a major milestone for the whole industry, firmly establishing fuel cells' role in deploying ultra-clean energy capacity," FuelCell Energy CEO R. Daniel Brdar said in a press release March 27.

After the news investors bid up the company's stock by 20.6% to $8.68 per share in afternoon New York trading on the Nasdaq March 27. As experts worry about the threats of global warming and oil supply scarcity, alternative energy is still hot.

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