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FuelCell Energy Taps Power Industry Veteran Bruce Ludemann for Global Sales and Marketing Post; Led Successful Business Development Efforts at Siemens and ABB

Posted on: Tuesday, 18 April 2006, 09:01 CDT

FuelCell Energy, Inc. (NasdaqNM:FCEL), a leading manufacturer of efficient, ultra-clean power generation plants for commercial and industrial customers, today announced that Bruce A. Ludemann has been named Senior Vice President for Sales and Marketing with responsibility for the company's business development activities across all its target markets in North America, Asia and Europe.

Previously, Ludemann had been a sales vice president with Siemens in Orlando, Fla., where he was responsible for more than $300 million in annual sales to electric utility and industrial customers. Over an eight-year period, Ludemann designed, expanded and oversaw sales and marketing efforts in a variety of capacities, holding positions with Siemens' Power Generation and Transmission & Distribution business units.

Ludemann's duties while with Siemens spanned sales of equipment and components for a range of power generation, high-voltage and large infrastructure applications, including alternative energy generation projects such as large wind farms. He also developed channel management programs for customers that extended to the manufacturing, hospitality & entertainment, utility/industrial and government sectors.

His initial focus will be to help FuelCell Energy capitalize on the megawatt and multi-megawatt opportunities emerging in California, the northeast US and Asia, as well as to expand the company's efforts to address markets that include states with Renewable Portfolio Standards (RPS) and utilities.

"Bruce is the rare individual who combines first-rate leadership qualities with deep technical expertise and hands-on field sales experience," said R. Daniel Brdar, President and CEO of FuelCell Energy. "His track record of effectively managing all phases of complex sales -- especially in a number of the industry verticals we target -- is a real plus for the company. We're delighted to have him join our team."

Prior to Siemens, Ludemann had been with ABB Power Transmission & Distribution Inc., where he managed the company's North American equipment services organization. He also held earlier positions with industrial control firm Square D and BBC Brown Boveri, a Swiss-based manufacturer of high voltage electrical equipment.

Ludemann studied business at Barry University in Miami, and holds an Executive MBA from the University of Pittsburgh. He served a four year enlistment in the U.S. Navy where he maintained and repaired electric power generation and distribution systems on naval vessels, and completed specialized training in shipboard electrical power systems.

About FuelCell Energy

FuelCell Energy develops and markets ultra-clean power plants that generate electricity with higher efficiency than distributed generation plants of similar size 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 emissions consider fuel cell power plants in the same environmentally friendly category as wind and solar energy 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 plant sites around the globe that have generated more than 94 million kilowatt hours, 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.

This news release contains forward-looking statements, 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.

Source: Business Wire

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