January 18, 2008
State agency approves loan for Danbury fuel cell company
A state agency has approved a $4 million loan for FuelCell Energy Inc., a Danbury company that produces fuel cells.
FuelCell has said it plans to invest between $10 million and $15 million over the next 15 months to expand its Technology Park Drive facility in Torrington and increase its production capacity to 60 megawatts per year.
The Connecticut Development Authority gave final approval for the loan Wednesday. It will provide the loan along with the state Department of Economic and Community Development.
FuelCell Energy is a leading manufacturer of fuel cell power plants.
Fuel cells create electricity from a chemical reaction using oxygen and hydrogen. The hydrogen is typically derived from natural gas.
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