FCEL FuelCell Energy Inc

IBM and FuelCell Energy, Inc. (Nasdaq: FCEL) today announced they will work together to boost the performance of FuelCell Energy’s technology using Foundation Models, a form of generative Artificial Intelligence (AI). The aim of this collaboration is to support both companies’ efforts to lead a global transition to renewable energy sources that emit little to no carbon.

Fuel cells are a source of clean energy that can be used in conjunction with other renewable energy sources or on their own. Through the collaboration, IBM will research ways that FuelCell Energy can extend the life of its fuel cells through an optimal control of operational parameters and their cost effectiveness for customers.

IBM will develop a Foundation Model, a form of generative AI, to create device-level models using FuelCell Energy data. These models will learn from the data and predict the technology's performance. This creates a data-based digital twin of the fuel cell, connecting various data sources and helping to provide a greater understanding of how various operating parameters impact the fuel cell's degradation, enabling potential improvements.

FuelCell Energy’s Chief Technology Officer, Tony Leo, and Alessandro Curioni, VP IBM Research Europe and Africa and Director of IBM Research Europe, Zurich, announced the collaboration at the 2023 Pan-EMEA Media Event at IBM Research Zurich lab in Switzerland.

“We hope that IBM’s AI will help FuelCell Energy replace the traditional, time-intensive and expensive accelerated life testing process when it comes to electrochemical energy production to quickly and efficiently propel forward the world’s transition to clean energy,” said Curioni.

“Our collaboration with IBM is an opportunity for FuelCell Energy to leverage emerging AI technology to improve our product performance for our customers and for IBM to extend its AI technology to the study of electrochemical catalytic processes,” said Leo. “We are excited to tap some of the greatest minds in the application of artificial intelligence, particularly in pursuit of joint commitments to enabling a world empowered by clean energy.”

About FuelCell Energy FuelCell Energy, Inc. (NASDAQ: FCEL): FuelCell Energy is a global leader in sustainable clean energy technologies that address some of the world’s most critical challenges around energy, safety, and global urbanization. It collectively holds more than 450 fuel cell technology patents in the United States and globally. As a leading global manufacturer of proprietary fuel cell technology platforms, FuelCell Energy is uniquely positioned to serve customers worldwide with sustainable products and solutions for businesses, utilities, governments, and municipalities. The Company’s solutions are designed to enable a world empowered by clean energy, enhancing the quality of life for people around the globe.

About IBMIBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. More than 4,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely.

IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

Visit www.ibm.com for more information.

Contacts:

IBM:

Katia Moskvitchkam@zurich.ibm.com+41 782089666

FuelCell Energy:

ir@fce.com 203.205.2491

Kathleen Blomquistkblomquist@fce.com203.546.5844