ACHRNEWS

Nov. 17, 2004: FuelCell Energy Named A Technology Fast 50 Company

November 17, 2004
DANBURY, Conn. - FuelCell Energy has been named to Deloitte's Technology Fast 50 Program for Connecticut, a ranking of the 50 fastest growing technology companies in the area by Deloitte & Touche LLP. Rankings are based on the percentage of growth in fiscal year revenues over five years, from 1999-2003.

Jerry D. Leitman, FuelCell Energy's chief executive officer, credits the company's 69 percent revenue growth from 1999 to 2003 to increasing sales of its Direct FuelCell power plants to commercial and industrial customers worldwide. He said, "With the ever-increasing price of energy, fuel cells are being recognized as a clean, efficient, and, most importantly, economical way to generate power. Our technological advantage is that we internally generate hydrogen from readily available fuels such as natural gas and wastewater treatment gas, and we are delivering our commercial Direct FuelCell power plants to customers today."

"In today's economy, double-digit percentage revenue growth is an exceptional accomplishment," said David Carver, partner, Deloitte's technology, media and telecommunications practice in Connecticut. "We commend FuelCell Energy for making the commitment to technology and delivering on the promise of market longevity. We are proud to honor FuelCell Energy as a Deloitte Technology Fast 50 winner."

Publication date: 11/15/2004