Hydrogen is changing the new energy landscape and FuelCell Energy is at the helm.
FuelCell Energy is a publicly traded company (NASDAQ: FCEL) founded in 1969 that focuses on using electrochemistry to enable a world empowered by clean energy. The organization has commercialized two high temperature electrochemical platforms that contribute to the access, cost, sustainability, and resilience of energy: their Molten Carbonate Platform and their Solid Oxide Platform.
Executive Vice President and Chief Commercial Officer, Mark Feasel, took us through the hydrogen process and the ever-changing new energy landscape in this episode of our energy savings webinar series. With the strengthening of EPA requirements and more federal tax incentives available as well as further standards for energy conservation efforts, the new energy landscape is increasingly including hydrogen.
The EPA is setting enforceable NOx emissions control requirements for existing and new emissions sources in industries that are estimated to have significant impacts on downwind air quality and the ability to install cost effective pollution controls. For reference, check-out March 2023’s Good Neighbor Plan.
As stated in the Inflation Reduction Act of 2022, “The IRA’s clean energy incentives include many provisions for clean hydrogen and fuel cell technologies, either extending many existing federal tax credits, increasing existing federal tax credits, or creating new federal tax credits.”
Overall, the United States might (finally) have all of the support it needs to work towards a new energy landscape.
FuelCell Energy has partnerships with leading organizations who are already successfully using hydrogen to power-up. For example, the Port Long Beach study with Toyota in the aforementioned webinar episode and post, and then more recently ExxonMobil.
ExxonMobil’s affiliate has tested a breakthrough technology that could significantly reduce CO2 emissions from key industries. The pilot plant aims to obtain data on performance and operability of the carbonate fuel cell (CFC) technology, jointly developed with FuelCell Energy. Additionally, the pilot aims to address potential technical issues that may occur in a commercial environment and better understand the costs of installing and operating a CFC plant for carbon capture.
The duo is ready to move to the next stage of commercialization in their jointly developed carbonate fuel cell-based direct flue capture carbon capture platform. This site will be the first in the world to pilot this technology.
Review Mark Feasel’s full presentation here.