FuelCell Energy Announces Retirement of Dr. Hans Maru; Long-Time Executive to Step Down as Chief Technology Officer, Retains Consultancy Role for Advancement of Company's Products and Technology.DANBURY, Conn. -- FuelCell Energy, Inc. (NasdaqNM:FCEL), a leading manufacturer of high efficiency, ultra-clean electric power plants for commercial and industrial customers, today announced Dr. Hans Maru will step down as Chief Technology Officer of the firm. Dr. Maru will remain as a consultant to FuelCell Energy for the advancement of its Direct FuelCell(R) (DFC DFC - A dataflow language. ["Data Flow Language DFC: Design and Implementation", S. Toshio et al, Systems and Computers in Japan, 20(6):1- 10 (Jun 1989)]. (R)) power plant technology and solid oxide fuel cells A Solid oxide fuel cell (SOFC) is an electrochemical conversion device that produces electricity directly from fuel. Fuel cells are characterized by their electrolyte material and, as the name implies, the SOFC has a solid oxide, or ceramic, electrolyte. under the leadership of R. Daniel Brdar, President and Chief Executive Officer. Dr. Maru, recognized internationally as an expert in fuel cell technology, has held a number of technical and management positions in the 29 years since joining the firm in 1977, most of which focused on research and development in fuel cells and related energy systems. He was promoted to Vice President of Research and Development in 1985, elevated to Executive Vice President in 1998, Chief Technology Officer in 2000, and has been a key contributor throughout FuelCell Energy's development of high temperature fuel cell technology. "Hans has made extraordinary contributions for FuelCell Energy as well as the global fuel cell industry over an extended period of time," said Jerry D. Leitman, Chairman of FuelCell Energy. "We appreciate his service in building the strong technology base of the company." "Hans has been instrumental in establishing a leadership position in ultra-clean, high efficiency stationary fuel cell power plants for the commercial marketplace," said R. Daniel Brdar, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of FuelCell Energy. "His continued commitment as a consultant will further enhance the commercialization of our DFC power plants and the development of our high temperature carbonate and solid oxide fuel cell products." Dr. Maru earned his masters and doctoral degrees in chemical engineering from the Illinois Institute of Technology Illinois Institute of Technology, in Chicago; coeducational; founded 1940 by a merger of Armour Institute of Technology (founded 1892) and Lewis Institute (1896). , after completing his bachelor's degree in chemical engineering from the Indian Institute The Indian Institute in central Oxford, England is located at the north end of Catte Street on the corner with Holywell Street and faching down Broad Street from the east.[1] of Technology. Among the awards recognizing Dr. Maru's achievements is the 2004 F.T. Bacon Medal Award, given to those exhibiting leadership and accomplishment in the area of Fuel Cell technology; and the 2003 Mass High Tech All Star Award for his contributions to fuel cell technology. He has 13 U.S. patents to his credit, in addition to 160 publications, and has edited four symposia sym·po·si·a n. A plural of symposium. volumes and contributed chapters in two books. Dr. Maru will serve as a consultant to FuelCell Energy focusing on fuel cell technology, interfacing with governments, industry associations, universities, and companies around the world. The Chief Technology Officer responsibilities formerly held by Dr. Maru will be assumed by executives within the commercial products and research and development areas. About FuelCell Energy FuelCell Energy Inc. develops and markets ultra-clean power plants that generate electricity and heat with higher efficiency than conventional fossil fuel fossil fuel: see energy, sources of; fuel. fossil fuel Any of a class of materials of biologic origin occurring within the Earth's crust that can be used as a source of energy. Fossil fuels include coal, petroleum, and natural gas. plants and with virtually no air pollution. Fuel cells produce base load electricity giving commercial and industrial customers greater control over their power generation economics, reliability and emissions. Emerging state, federal and international regulations to reduce harmful greenhouse gas greenhouse gas n. Any of the atmospheric gases that contribute to the greenhouse effect. greenhouse gas emissions consider fuel cell power plants in the same environmentally friendly Environmentally friendly, also referred to as nature friendly, is a term used to refer to goods and services considered to inflict minimal harm on the environment.[1] category as wind and solar energy solar energy, any form of energy radiated by the sun, including light, radio waves, and X rays, although the term usually refers to the visible light of the sun. sources -- with the added advantages of running 24 hours a day and the capacity to be installed where wind turbines or solar panels often cannot. Headquartered in Danbury, Conn., FuelCell Energy services over 40 power generation sites around the globe that have produced more than 80 million kilowatt hours Kil´o`watt` hour 1. (Elec.) A unit of work or energy equal to that done by one kilowatt acting for one hour; - approximately equal to 1.34 horse-power hour. Noun 1. , and conducts R&D on next-generation fuel cell technologies to meet the world's ever-increasing demand for ultra-clean distributed energy. For more information on the company, its products and its worldwide commercial distribution alliances, please see www.fuelcellenergy.com. Direct FuelCell, DFC and DFC/Turbine are registered trademarks of FuelCell Energy, Inc. All other trademarks are the property of their respective owners. The Company's sub-megawatt DFC fuel cell power plant is a collaborative effort combining its Direct FuelCell technology with a Hot Module(R) balance of plant design from MTU (1) (Maximum Transmission Unit, Maximum Transfer Unit) The largest frame size that can be transmitted over the network. For example, an Ethernet MTU is 1,500 bytes. Messages longer than the MTU must be divided into smaller frames. CFC CFC See: Controlled foreign corporation Solutions, GmbH, a subsidiary of DaimlerChrysler. This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , including statements regarding the Company's plans and expectations regarding the development and commercialization of its fuel cell technology. 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, the risk that commercial field trials of the Company's products will not occur when anticipated, general risks associated with product development, manufacturing, changes in the utility regulatory environment, potential volatility of energy prices, rapid technological change, and competition, 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. |
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