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FuelCell Energy Chairman Awarded Grove Medal

14 September 1999

FuelCell Energy Chairman Awarded Prestigious Grove Medal for Fuel Cell Technology; Bernard S. Baker Honored at Sixth Grove Fuel Cell Symposium 1999

    DANBURY, Conn.--Sept. 14, 1999--Dr. Bernard S. Baker, Chairman of the Board of Directors of FuelCell Energy, Inc., formerly Energy Research Corporation (AMEX:ERC) has been awarded the prestigious Grove Medal presented today at the Sixth Grove Fuel Cell Symposium 1999 in London.
    Dr. Baker's presentation, delivered to the gathering of more than 400 conference attendees and dignitaries representing the worldwide fuel cell community, highlighted the development of fuel cells at FCE and the evolution of the Direct FuelCell(TM) (DFC), the Company's principal commercialization activity.
    "The fuel cell was born in the 19th century, made many important strides into adolescence in the 20th century, and is now poised to become an important force in stationary power generation as we enter the next millennium," said Baker. "I believe in the first decade of the 21st century, we will see widespread commercialization of efficient and environmentally benign fuel cells. This is an exciting time to be in the industry and I am honored to have been able to make some small contribution toward the development of this most important technology."
    Baker also remarked that he is especially gratified to be receiving the award at the same time that FCE is successfully operating power plants based on its technology. "Over the past eight years, we have demonstrated that DFC technology works in a grid-connected setting. Our current and upcoming commercial field trials in the US and in Europe will further push the technological boundaries while moving us closer to economic viability."

    About the Grove Medal

    The Grove Medal, presented in conjunction with the Grove Fuel Cell Symposium, is awarded to acknowledge an individual or company that has made valuable contributions toward the development and success of fuel cell technology. Candidates are selected by the Grove Steering Committee. The Sixth Grove Fuel Cell Symposium: "Fuel Cells - The Competitive Option for Sustainable Energy Supply" is being held in London Sept. 13 - 16.
    Dr. Gary Acres, Chairman of the Grove Symposium Steering Committee said: "Dr. Bernard S. Baker devoted his entire professional career to develop and promote fuel cells. In the beginning as a scientist, finally as a top manager he dealt with various fuel cells like the AFC, PAFC and MCFC. Dr. Baker personifies a remarkable combination of scientific capabilities and management skills. This unique blend enabled him not only to have many patents on fuel cell related inventions and to issue more than 100 fuel cell publications but to build up one of the world wide leading companies in the Carbonate Fuel Cell Technology and to carry out the largest advanced fuel cell demonstration (at the city of Santa Clara). Dr. Baker has rendered outstanding service to the fuel cell community and is honored to receive the Grove Medal Award."
    "On behalf of MTU and personally I'm very much pleased to see Bernie Baker awarded with the Grove medal," remarked Michael Bode, Vice President and Director of the New Technology group of DaimlerChrysler affiliate MTU-Friedrichshafen GmbH. "We at MTU enjoy a ten year business relationship with Dr. Baker and FCE. It is fitting that the world's first field trial unit of MTU's 250 kW Hot Module(TM) in a cogeneration mode will be starting very soon at a customer's site in Germany. We take it as a testimony of a sound and fruitful partnership with FCE established and promoted by Dr. Baker and always stimulated by his creativity and outstanding electrochemical expertise."
    Jerry Leitman, president and CEO of FCE, stated: "We at FCE have long been aware of Dr. Baker's tremendous contributions to the field of fuel cell technology. It is in large part due to Dr. Baker's knowledge, persistence and tremendous research skills that FCE is a world leader today in the efforts to commercialize fuel cells for clean and efficient power generation. Today's award is testament to Dr. Baker's dedication to the field and we are gratified that he has been formally honored by his peers."

    Biographical Information

    Dr. Baker is a world-renowned expert in fuel cell systems, having contributed to many technological developments and breakthroughs in the field. His career in the research and development of fuel cells spans more than 40 years. He has received 20 U.S. patents relating to fuel cells and other electrochemical systems. He also is the author of nearly 100 publications, including technical papers, books and symposia proceedings on the subject of fuel cells. Dr. Baker started his fuel cell career as Fulbright Fellow in 1959 at the University of Amsterdam with carbonate fuel cell pioneer, Dr. G. H. J. Broers. Prior to joining FCE, Dr. Baker worked as a Senior Scientist at Lockheed Aircraft Corp. and as Director of Basic Sciences at the Institute of Gas Technology. Dr. Baker is also recipient of Cecil J. Previdi Award for Entrepreneurial Spirit and Business Leadership in 1995. He was invited as a Ralph E. Peck Lecturer at Illinois Institute of Technology in 1994.
    Dr. Baker earned his B.S. and M.S. in Chemical Engineering from the University of Pennsylvania in 1957 and 1959, respectively. He earned a Ph.D. in Chemical Engineering form the Illinois Institute of Technology in 1969. His Ph.D. thesis was on heat transfer in electrochemical systems.
    He was president of FCE from 1970 to 1997, CEO and a director of the Company from March 1992 to August 1997 and currently serves as chairman of the Board. During his tenure at FCE, Dr. Baker directed research and development of various electrochemical power generation devices, including different types of fuel cells, batteries and hybrid systems. His involvement encompassed fundamental, technological, engineering, system and marketing aspects of these systems.

    FuelCell Energy, Inc., formerly Energy Research Corporation is a world recognized leader in the field of high efficiency fuel cells for electric power generation. http://www.fuelcellenergy.com.

This press 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 and introduction, 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.