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| 8-K - FORM 8-K - FUELCELL ENERGY INC | c03252e8vk.htm |
Exhibit 99.1
FuelCell Energy Promotes Anthony Rauseo to Newly Created Chief Operating Officer Position
DANBURY, Conn., July 6, 2010 (GLOBE NEWSWIRE) — FuelCell Energy, Inc. (Nasdaq:FCEL) a leading
manufacturer of high efficiency ultra-clean power plants using renewable and other fuels for
commercial, industrial, government, and utility customers today announced the promotion of
Anthony (‘Tony’) Rauseo to the newly created position of Chief Operating Officer. This position
will be responsible for closely integrating the manufacturing operations with the supply chain,
product development and quality, and will report directly to the Chief Executive Officer.
“The creation of this Chief Operating Officer position is in response to the needs of the Company
as we prepare for growth,” said R. Daniel Brdar, Chairman and Chief Executive Officer. “Tony
Rauseo is the ideal choice for this role due to his extensive experience with product development
and manufacturing advancement, his continual focus on quality and process improvement, and his
collaborative management style.”
Mr. Rauseo was Vice President of Engineering and Chief Engineer, having joined FuelCell Energy in
2005. Through his leadership, FCE has accomplished significant year-over-year product cost
reductions, significantly improved product operational reliability and shortened product
development cycle-time. Prior to joining Fuel Cell Energy, Tony held a variety of key management
positions in manufacturing, quality and engineering. Tony was with CiDRA Corporation for 5 years,
where he led the ramp-up of high volume telecom product manufacturing. Prior to joining CiDRA, Tony
was with Pratt and Whitney for 17 years where he held various leadership positions in product
development, production and customer support of aircraft turbines. Mr. Rauseo holds a Bachelor
Science Mechanical Engineering from Rutgers University and a Masters Science Mechanical Engineering
from Rensselaer Polytechnic Institute.
About FuelCell Energy
DFC® fuel cells are generating power at over 50 locations worldwide. The Company’s power plants
have generated over 500 million kWh of power using a variety of fuels including renewable
wastewater gas, biogas from beer and food processing, as well as natural gas and other
hydrocarbon fuels. FuelCell Energy has partnerships with major power plant developers and power
companies around the world. The Company also receives funding from the U.S. Department of Energy
and other government agencies for the development of leading edge technologies such as fuel
cells. For more information please visit our website at www.fuelcellenergy.com
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, 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. DFCERG is a registered trademark jointly owned by Enbridge, Inc. and
FuelCell Energy, Inc.
| CONTACT: | FuelCell Energy, Inc. 203-825-6153 ir@fce.com |
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