UTC Power's PureCell® Stationary Fuel Cell System to Power New York City Headquarters for News Corporation
SOUTH WINDSOR, Conn., April 24, 2012 /PRNewswire/ -- UTC Power, a United Technologies Corp. (NYSE: UTX) company, today announced that an affiliate of Beacon Capital Partners, LLC. has installed a PureCell stationary fuel cell system at its 1211 Avenue of the Americas building in New York City to provide News Corporation, the building's major tenant, a significant portion of its electricity for TV studios and its hot water needs. The PureCell system is an on-site combined cooling, heating and power generation system that reduces energy costs, increases operational reliability and contributes to a cleaner environment. The fuel cell can operate independently of the electric grid, providing energy security for the building and making it a critical power backup during blackouts, natural disasters and man-made emergencies.
"The fuel cell at 1211 Avenue of the Americas offers a good example of how major urban office buildings can economically reduce carbon emissions through leading-edge technology," said Fred Seigel, President and Chief Operating Officer of Beacon Capital Partners. "We are grateful to have collaborated with our partners in this successful effort, particularly UTC Power and News Corporation, and to have received funding support from the New York State Energy Research and Development Authority (NYSERDA)."
"Since 2007, News Corporation has been recognized as a leader in corporate sustainability for the Company's Global Energy Initiative, a comprehensive program to reduce our environmental impact. This fuel cell brings us a step closer to achieving our long-term vision -- to grow our business without growing our carbon footprint -- and we are thankful to Beacon Capital Partners, NYSERDA and UTC Power for their support," Vijay Sudan, Director of News Corporation's Global Energy Initiative.
Fuel cells are one of the cleanest energy-generation sources available and meet the strictest U.S. emission standards, making them an ideal fit for News Corporation's Global Energy Initiative, the company's world-wide commitment to minimize its environmental impact, grow sustainably and inspire others to take action. Highly energy-efficient, fuel cells produce electricity, heat and water through an electrochemical process.
By generating and using power on-site with a PureCell system, News Corporation prevents the release of more than 675 metric tons of carbon dioxide annually – the equivalent of planting more than 156 acres of trees. The reduction in nitrogen oxide emissions compared to a conventional power plant is equal to the environmental benefit of removing more than 114 cars from the road. In addition to the reduction in greenhouse gas emissions, the PureCell system saves nearly 4.2 million gallons of water annually.
The PureCell system is a combined heat and power (CHP) fuel cell system that is proving to be a game-changing technology for energy efficient buildings. Compared to typical central generation and other fuel cell offerings, the PureCell system offers customers lower energy costs, reduced emissions, an industry-leading 10-year cell stack durability and an up to 90 percent system efficiency. This range of benefits is unique to the PureCell system and is unmatched in the fuel cell industry.
This fuel cell installation was made possible through the generous financial support of NYSERDA. "Combining fuel cells with CHP provides a technology that can help reduce the power needs of New York City, creating more energy efficiency and a more reliable electric grid," said Francis J. Murray Jr., President and CEO of NYSERDA. "To encourage others to adopt fuel cell technology, NYSERDA's fuel cell program provides an incentive toward the cost of fuel cell installations, and can include payments over the first three years of operation based on power produced."
"UTC Power is proud to partner with Beacon Capital, News Corporation and NYSERDA on this fuel cell project. The energy savings and environmental benefits achieved by the PureCell system installed at News Corporation directly support the important goals of the company's Global Energy Initiative," said Joe Triompo, Vice President and General Manager of UTC Power. "We're thrilled to help Beacon Capital and News Corporation lower their energy costs, increase their energy security and reduce their environmental emissions by producing clean, efficient power on-site."
About Beacon Capital Partners, LLC.
Beacon Capital Partners is a private real estate investment firm with a seasoned team of professionals and proven experience generating value-added returns through investments in high-quality office properties. Beacon is based in Boston and has offices in Los Angeles, New York, San Francisco, Seattle, Washington, D.C., London, Luxembourg, and Paris.
NYSERDA, a public benefit corporation, offers objective information and analysis, innovative programs, technical expertise and funding to help New Yorkers increase energy efficiency, save money, use renewable energy, and reduce their reliance on fossil fuels. NYSERDA professionals work to protect our environment and create clean-energy jobs. NYSERDA has been developing partnerships to advance innovative energy solutions in New York since 1975.
About UTC Power
UTC Power, a United Technologies Corp. (NYSE: UTX) company, provides energy-efficient products and services to the aerospace and building industries. UTC is a founding member of the U.S. Green Building Council and the Pew Center on Global Climate Change and has been named to the Dow Jones Sustainability Index each year since it was launched in 1999. Based in South Windsor, Conn., UTC Power is the world leader in developing and producing fuel cells that generate energy for buildings and for transportation, space and defense applications. UTC Power has designed, manufactured, and installed more than 300 stationary fuel cells in 19 countries on six continents. For more information, please visit www.utcpower.com
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