0000886128-13-000016.txt : 20130418 0000886128-13-000016.hdr.sgml : 20130418 20130418164747 ACCESSION NUMBER: 0000886128-13-000016 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20130418 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20130418 DATE AS OF CHANGE: 20130418 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FUELCELL ENERGY INC CENTRAL INDEX KEY: 0000886128 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690] IRS NUMBER: 060853042 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14204 FILM NUMBER: 13769621 BUSINESS ADDRESS: STREET 1: 3 GREAT PASTURE RD CITY: DANBURY STATE: CT ZIP: 06813 BUSINESS PHONE: 2038256000 MAIL ADDRESS: STREET 1: 3 GREAT PASTURE ROAD CITY: DANBURY STATE: CT ZIP: 06813 FORMER COMPANY: FORMER CONFORMED NAME: ENERGY RESEARCH CORP /NY/ DATE OF NAME CHANGE: 19930328 8-K 1 a8-kpressreleasebusinessup.htm 8-K 8-KPressReleaseBusinessUpdate

 
 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
 
 

FORM 8-K
 
 

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): April 18, 2013
 
 

FUELCELL ENERGY, INC.
(Exact Name of Registrant as Specified in Charter)
 
 

 
 
 
 
 
 
Delaware
 
1-14204
 
06-0853042
(State or Other Jurisdiction of
Incorporation)
 
(Commission
File Number)
 
(IRS Employer
Identification No.)
 
 
3 Great Pasture Road, Danbury,
Connecticut
 
06813
(Address of Principal Executive Offices)
 
(Zip Code)
Registrant’s telephone number, including area code: (203) 825-6000
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
 
 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 






Item 8.01.
Other events

On April 18, 2013, FuelCell Energy, Inc. (“FuelCell”) provided a business update on its revenues expected for the second fiscal quarter ended April 30, 2013 in the range of $38 to $40 million, job creation in Connecticut and its previously announced plans to ramp to 70 megawatt annual run-rate. FuelCell’s press release is attached to this report as Exhibit 99.1 and incorporated herein by reference.

Item 9.01.
Financial Statements and Exhibits

(d) Exhibits.
 
 
 
 
 
 
 
Exhibit No. 
 
Description
 
 
 
 
 
99.1
 
FuelCell Energy, Inc., Press Release, issued April 18, 2013.

2




SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
 
 
 
 
 
 
FUELCELL ENERGY, INC.
 
 
 
Date: April 18, 2013
 
By:
 
/s/ Michael S. Bishop
 
 
 
 
Michael S. Bishop
 
 
 
 
Senior Vice President, Chief Financial Officer, Corporate Secretary and Treasurer






EXHIBIT INDEX

 
Exhibit No. 
 
Description
 
 
 
 
 
99.1
 
FuelCell Energy, Inc., Press Release, issued April 18, 2013.


EX-99.1 2 a8-kexhibit99x14x18x2013.htm EXHIBIT 8-K Exhibit 99-1 4-18-2013
    


FOR IMMEDIATE DISTRIBUTION

FuelCell Energy Provides Business Update

Ramp to a 70 megawatt Run-Rate on Track for May 1st completion
Expect second fiscal quarter revenues in the range of $38 - $40 million
Demand for Efficient and Ultra-Clean Stationary Fuel Cells Drives Job Creation in Connecticut

Danbury, CT – April 18, 2013 – – FuelCell Energy, Inc. (NASDAQ: FCEL) a global leader in the design, manufacture, operation and service of ultra-clean, efficient and reliable fuel cell power plants, today provided an update on its previously announced plans to ramp to a 70 megawatt (MW) annual run-rate and the job creation resulting from the demand for its highly efficient and environmentally friendly stationary fuel cell power plants.

“We are pleased with the progress in ramping our production rate by 25 percent and expect to be at a 70 megawatt annualized run-rate by May 1, 2013,” said Chip Bottone, President and Chief Executive Officer, FuelCell Energy, Inc. “The ramp of the business and hiring is directly related to demand in Connecticut such as a 14.9 megawatt fuel cell park in Bridgeport as well as overseas demand and a strong project pipeline.”

As a result of the increased run-rate and execution on the business plan, the Company expects to report revenues for its second fiscal quarter ended April 30, 2013 in the range of $38 to $40 million. This compares favorably to total revenues of $36.4 million reported for the quarter ended January 31, 2013 and $24.2 million reported for the quarter ended April 30, 2012.

FuelCell Energy now employs more than 240 workers at its Danbury headquarters and research and development facility and 295 at its Torrington production facility. In the past six months, employment at the Torrington site has increased by more than 20 percent. Including Connecticut, the Company’s total global employment now exceeds 600 full time employees. FuelCell Energy has been headquartered in Connecticut since 1969.

“We attract employees from around the State including 82 different towns in 7 of the 8 counties in Connecticut,” said Darrell Bradford, Vice President Human Resources, FuelCell Energy, Inc.

Stationary fuel cell power plants provide continuous on-site power and electric grid support in a highly efficient electrochemical process that is virtually absent of pollutants. Ultra-clean, quiet, and requiring only modest space, FuelCell Energy’s Direct FuelCell® (DFC®) fuel cell power plants are easy to site in populated areas. Direct FuelCells® (DFC®) electrochemically convert a fuel source into electricity and heat in a highly efficient process that emits virtually no pollutants due to the absence of combustion. DFC power plants are fuel flexible, capable of operating on natural gas, renewable biogas or directed biogas. Total efficiency of up to 90 percent can be achieved by DFC plants configured for combined heat and power (CHP), depending on the application. High efficiency reduces fuel costs and carbon emissions and


    


producing both electricity and heat from the same unit of fuel can reduce the use of combustion based boilers used for heating, further reducing costs and pollutants.

About FuelCell Energy
Direct FuelCell® power plants are generating ultra-clean, efficient and reliable power at more than 50 locations worldwide.  With more than 300 megawatts of power generation capacity installed or in backlog, FuelCell Energy is a global leader in providing ultra-clean baseload distributed generation to utilities, industrial operations, universities, municipal water treatment facilities, government installations and other customers around the world.  The Company’s power plants have generated more than 1.5 billion kilowatt hours of ultra-clean power using a variety of fuels including renewable biogas from wastewater treatment and food processing, as well as clean natural gas. For more information please visit our website at www.fuelcellenergy.com and view career opportunities at FuelCell Energy.
See us on on YouTube and Linked In

This news release contains forward-looking statements, including statements regarding the Company’s plans and expectations regarding the continuing development, commercialization and financing of its fuel cell technology and business plans. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Factors that could cause such a difference include, without limitation, whether the Company is able to reach definitive agreements on the terms contemplated in the memorandums of agreement with POSCO Energy, general risks associated with product development, manufacturing, changes in the regulatory environment, customer strategies, potential volatility of energy prices, rapid technological change, competition, and the Company’s ability to achieve its sales plans and cost reduction targets, as well as other risks set forth in the Company’s filings with the Securities and Exchange Commission. The forward-looking statements contained herein speak only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which any such statement is based.

Direct FuelCell, DFC, DFC/T, DFC-H2 and FuelCell Energy, Inc. are all registered trademarks of FuelCell Energy, Inc. DFC-ERG is a registered trademark jointly owned by Enbridge, Inc. and FuelCell Energy, Inc.

Contact:
 
FuelCell Energy, Inc.
Investor Relations
203-825-6153
ir@fce.com
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