Boston, MA 03/26/2014 (wallstreetpr) -The business of providing electricity through use of fuel-cells goes beyond the offering ultra-clean and probably cheaper energy. You only need to know what FuelCell Energy Inc (NASDAQ:FCEL) is up to of late to appreciate the ability of fuel-cell companies to kill two birds with one stone.
The company is currently involved in converting natural gas from landfills into energy and carbon dioxide for a greenhouse project in British Columbia. In the $6.7 million greenhouse project, FuelCell is using its technology to generate ultra-clean energy from landfill gas, out of which it also creates carbon dioxide that is fed to the crops.
FuelCell Energy Inc (NASDAQ:FCEL) is a manufacturer and distributor of ultra-clean energy solution. Shares of the company have soared in recent weeks as commercial adoption of fuel-cell energy continues to grow and fuel-cell companies attracting bigger contracts.
The double-edged project
In the double-edged project where the company converts natural gas into electricity and carbon dioxide, its current yield of carbon dioxide is 25 percent. The company is running two steams for the British Columbia greenhouse project, where one stream provides electricity while the other produces plant-food. In the process, oxygen is produced through photosynthesis in the plants.
More of similar projects and way forward
Double production for fuel-cells companies like FuelCell Energy Inc (NASDAQ:FCEL) looks like an approach that can ensure higher plant yields while also providing electricity that is not only cheaper, but also friendly to the environment. While the greenhouse facility project in British Columbia is one of a kind, it comes as a benchmark for fuel-cells companies for better monetization of their technology.
Fuel-cells companies are currently trying to win over commercial customers seeking efficient, clean and perhaps safer options to power their machines. The adoption of fuel-cells electricity is still very low, but market experts are upbeat that better things are yet to come. Perhaps this can best be captured by recent supply deal which a fuel-cells provider inked with giant stores operator Wal-Mart Stores Inc (NYSE:WMT), for powering machines and equipment like forklift.
Auto industry holds promise
The push towards achieving energy efficiency in automotives is leading to increase in hybrid and electric vehicles. FuelCell Energy Inc (NASDAQ:FCEL) and its peers in the fuel-cells business are looking to a surge in demand for fuel-cells to power the auto industry. As if to give credence to this prospect, Plug Power Inc (NASDAQ:PLUG), another provider of fuel-cells solutions, recently announced a major supply deal with an automaker in North America.
