Ultra-Clean, Efficient, Reliable Power - SCAP

1 ultra - clean , efficient , Reliable Power FuelCell Energy Confidential & Proprietary MW Renewable Fuel Cell inland Empire utilities agency February 28, 2013 Pere Margalef Manager of Business Development + Contents 2 FuelCell Energy Confidential & Proprietary Company Overview Multi-Megawatt Solutions Applications and Experience inland Empire utilities agency (IEUA) Value Proposition Integrated Fuel Cell Company 3 FuelCell Energy Confidential & Proprietary Design & Manufacture Megawatt class Power generation solutions Direct Sales & via Partners Installations/orders in 9 countries Services Over 80 DFC plants operating at more than 50 sites billion kWh ultra - clean Power produced Engineering / Construction Over 300 megawatts installed and in backlog How the Direct Fuel Cell Works High Temperature DFC Electrochemical Conversion of Fuel Heating Value to Electricity Inherently more efficient than engines and turbines Cleaner: >No combustion >Negligible Nox, SOx or PM Scalable: High efficiency and low emissions achieved at scales from sub-MW to multi-MW Siteable >Low emissions >Quiet Hydrogen produced in the stack from available hydrocarbon fuels More efficient No need for H2 infrastructure CH4 + 2H2O 4H2 + CO2 ANODE CATALYST CATALYST CATHODE ELECTROLYTE INTERNAL REFORMING 4H2 + 4CO3 4H2O + 4CO2 + 8e = = 2O2 + 4CO2 + 8e 4CO3 Hydrocarbon Fuel Steam Air 4 FuelCell Energy Confidential & Proprietary 5 Major Contaminants for Fuel Cells Sulfur Compounds: H2S, mercaptans, methyl sulfides, etc.

2 Poison the stack and impair the fuel cell operation. Limit = 10000 ppbv Siloxanes: Impair the performance of the anode catalysts. Limit = 100 ppbv Oxygen: Reacts with methane in the anode and lowers the electrical efficiency 2 to 3% oxygen content reduces the efficiency by 1 to Limit = 1% Moisture: Water condensation must be avoided Tfuel> + 15 F Fuel Cell Configuration FUEL OXIDANT BIPOLAR PLATE ANODE MATRIX CATHODE 6 FuelCell Energy Confidential & Proprietary Cell Package and Stack Four-Stack Module MW DFC3000 Two 4-Stack Modules MW DFC1500 One 4-Stack Module Multi-Megawatt Solutions 7 FuelCell Energy Confidential & Proprietary American Technology and Manufacturing ultra - clean Markets Education/Healthcare Industrial Commercial/Hospitality Government Oil Production and Refining Gas Transmission Utility/IPP Export to Grid Renewable Markets Wastewater Agriculture Food and Beverage Processing Landfill Gas In California Over 28 MW in commercial operation Over 50% operating on renewable fuel California Installations 8 FuelCell Energy Confidential & Proprietary Technology leadership Environmental compliance Health and safety Energy cost volatility Power reliability Power security Emission reductions/credits

3 Infrastructure spending offset Productivity Energy savings Environmental stewardship Value Drivers: UTS BioEnergy owns and operates the fuel cell system, including the gas conditioning system inland Empire utilities agency (IEUA) provides the land for the fuel cell and digester gas from the waste water treatment plant IEUA purchases the Power from UTS BioEnergy through a Power Purchase Agreement (PPA) Project Specifics: Project: inland Empire utilities agency Customer: UTS BioEnergy (Anaergia) Location: Ontario, California Size: MW Model DFC3000 Fuel: BioGas Online: October 2012 inland Empire utilities agency FuelCell Energy Confidential & Proprietary 9 Technology leadership Environmental compliance Health and safety Energy cost volatility Power reliability Power security Emission reductions/credits Infrastructure spending offset Productivity Energy savings Environmental stewardship Value Drivers: UTS BioEnergy owns and operates the fuel cell system, including the gas conditioning system San Jose Water Pollution Control Plant (WPCP) provides the land for the fuel cell and digester gas from the waste water treatment plant San Jose WPCP purchases the Power from UTS BioEnergy through a Power Purchase Agreement (PPA) Project Specifics: Project: San Jose Water Pollution Control Plant Customer: UTS BioEnergy (Anaergia) Location: San Jose, California Size: MW Model DFC1500 Fuel: Biogas Online.

4 May 2012 San Jose Water Pollution Control Plant FuelCell Energy Confidential & Proprietary 10 MW DFC3000 Layout Module A Blower, Heater, Humidifier Water Treatment and Control Panel Inverter Module B Inverter Fuel Treatment - Desulfurizer Switchgear Exhaust Stack 11 FuelCell Energy Confidential & Proprietary MW Model DFC3000 Basic Layout 12 FuelCell Energy Confidential & Proprietary MW Model DFC3000 Basic Layout 13 FuelCell Energy Confidential & Proprietary MW Process Flow Diagram 14 FuelCell Energy Confidential & Proprietary With Hot Water EXHAUST NATURAL GAS DFC FUELCELL WATER IN 1 WATER OUT 2 3 HEAT RECOVERY SYSTEM HOT WATER OUT HOT WATER IN 4 7 6 5 SYSTEM PROPOSED BY FUELCELL ENERGY Stream #1234567 Des criptionNATURAL GASWATER TO FUEL CELLWATER FROM FUEL CELLEXHAUST FROM FUEL CELLEXHAUST TO ATMOSPHEREHOT WATER INHOT WATER OUTFlow362 s gpm36,600 lb/h36,600 lb/h440 gpm440 gpmPres s ure, ps ig15-2055-7015-20~0~06060 Tem perature, MW Process Flow Diagram 15 FuelCell Energy Confidential & Proprietary With Absorption Chilling EXHAUST NATURAL GAS DFC FUELCELL WATER IN 1 WATER OUT 2 3 ABSROPTION CHILLER CHILLED WATER CHILLED WATER 4 7 6 5 SYSTEM PROPOSED BY FUELCELL ENERGY COOLING WATER COOLING WATER 8 8 Stream #123456789 DescriptionNATURAL GASWATER TO FUEL CELLWATER FROM FUEL CELLEXHAUST FROM FUEL CELLEXHAUST TO ATMOSPHERECHILLED WATER INCHILLED WATER OUTCOOLING WATER SUPPLY FROM COOLING TOWERCOOLING WATER RETURN TO COOLING TOWERFlow362 gpm36,600 lb/h36,600 lb/h960 gpm960 gpm1940 gpm1940 gpmPressure, psig15-2055-7015-20~0~060606060 Temperature.

5 F60607070035054448595 Value Proposition 16 FuelCell Energy Confidential & Proprietary On-Site Power High efficiency drives economics Virtual lack of pollutants eliminates future clean air compliance concerns CHP reduces costs & supports sustainability Supports energy security Power reliability improved Fuel cell Power plants at a University, a commercial bakery, and a municipal pump station Electric Grid Support Cost effectively add Power generation when/where needed Reduces grid congestion Supports renewable portfolio standards Reinforces grid reliability Heat sold to neighbors or used to enhance electrical efficiency Fuel cell park supporting the electric grid ultra - clean Baseload Distributed Generation Solution Easy to site in populated areas Generates more Power output per unit of fuel w/ 47%-70% electrical efficiency Up to 90% total efficiency when using Combined Heat and Power (CHP) Fuel flexible: clean natural gas or renewable biogas