UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): August 5, 2015
FUELCELL ENERGY, INC.
(Exact Name of Registrant as Specified in Charter)
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Delaware |
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1-14204 |
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06-0853042 |
(State or Other Jurisdiction
of Incorporation) |
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(Commission
File Number) |
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(IRS Employer
Identification No.) |
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3 Great Pasture Road, Danbury, Connecticut |
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06813 |
(Address of Principal Executive Offices) |
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(Zip Code) |
Registrants telephone number, including area code: (203) 825-6000
Not Applicable
(Former
Name or Former Address, if Changed Since Last Report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 5.02(d). |
Election of Directors. |
On August 5, 2015, the Board of Directors of FuelCell
Energy, Inc. (FuelCell) appointed Paul F. Browning and Matthew F. Hilzinger as Directors of FuelCell. Mr. Browning will serve as a member of the Compensation Committee and Government Affairs Committee. Mr. Hilzinger will
serve as a member of the Audit and Finance Committee and Nominating and Corporate Governance Committee. Natica von Althann will no longer serve on the Compensation Committee and will instead serve on the Nominating and Corporate Governance
Committee, in addition to continuing to serve on the Audit and Finance Committee.
Mr. Browning, 48, served as President and Chief
Executive Officer of Irving Oil Limited, a privately-held multi-billion dollar oil and gas processing, transporting and marketing company. Previously, Mr. Browning led General Electrics Thermal Products division, a $7 billion division
within the GE Power and Water business. As President and CEO of the Thermal Products division, Mr. Browning crafted strategy, launched new power generation products, and was actively involved in selling and executing many of the worlds
largest power generation projects. Prior to GE, Mr. Browning spent 12 years at Caterpillar including having responsibility for the engineering, product development, manufacturing and supply chain of the industrial gas turbine business, Solar
Turbines, and culminating in the position of Managing Director of MAK in the Marine & Petroleum Power division with responsibilities for manufacturing in Germany and China. Mr. Browning provides executive leadership experience in power
generation and global manufacturing including extensive experience with power generation projects in developed and developing countries.
Mr. Hilzinger, 52, is Executive Vice President and Chief Financial Officer for USG Corporation, a building products company, where he
oversees all financial activities as well as strategic planning and information technology. Previously, he held a variety of finance roles at Exelon Corporation, advancing to Chief Financial Officer and then to Chief Integration Officer, responsible
for the integration of Constellation Energy, a multi-billion dollar acquisition. Prior to Exelon, Mr. Hilzinger was Chief Financial Officer at Credit Acceptance Corporation, Vice President Controller of Kmart Corporation, Vice President
International Operations at Handelman Company and he began his finance career at Arthur Andersen as Manager, Audit Division.
A copy of
the press release issued by FuelCell announcing the appointment of Mr. Browning and Mr. Hilzinger is attached as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01. |
Financial Statements and Exhibits. |
(d) Exhibits
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Exhibit No. |
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Description |
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99.1 |
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FuelCell Energy, Inc. Press Release, issued August 6, 2015 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
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FUELCELL ENERGY, INC. |
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Date: August 7, 2015 |
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By: |
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/s/ Michael Bishop |
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Michael Bishop |
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Senior Vice President, Chief Financial Officer, Corporate Secretary and Treasurer |
Exhibit 99.1
FOR IMMEDIATE RELEASE
FuelCell Energy Announces Appointment of Two New Members to its Board of Directors
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Appointment of Paul F. Browning, former President and Chief Executive Officer Irving Oil Company Limited |
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Appointment of Matthew F. Hilzinger, Executive Vice President and Chief Financial Officer, USG Corporation |
DANBURY, CT August 6, 2015 FuelCell Energy, Inc. (Nasdaq: FCEL), a global leader in the design, manufacture, operation and
service of ultra-clean, efficient and reliable fuel cell power plants, today announced the appointment of two new members to the Companys Board of Directors, including Paul F. Browning, former President and Chief Executive Officer Irving Oil
Company Limited and Matthew F. Hilzinger, Executive Vice President and Chief Financial Officer, USG Corporation. These additions to the FuelCell Energy Board of Directors increase the total number of members to ten.
Mr. Paul F. Browning
Mr. Browning has extensive global leadership experience in the energy industry including gas turbine manufacturing and sales for both
distributed and central power generation, utility-scale renewable power applications as well as oil and gas processing and transportation. Most recently, Mr. Browning served as President and Chief Executive Officer of Irving Oil Limited, a
privately-held multi-billion dollar oil and gas processing, transporting and marketing company based in Saint John, New Brunswick, Canada. Previously, Mr. Browning led General Electrics Thermal Products division, a $7 billion division
within the GE Power and Water business based in Schenectady, NY. As President and CEO of the Thermal Products division, Mr. Browning crafted strategy, launched new power generation products, and was actively involved in selling and executing
many of the worlds largest power generation projects. Prior to GE, Mr. Browning spent 12 years at Caterpillar including responsibility for the engineering, product development, manufacturing and supply chain of the industrial gas turbine
business, Solar Turbines, and culminating in the position of Managing Director of MAK in the Marine & Petroleum Power division, based in Kiel, Germany.
Mr. Browning holds a Masters degree in Materials Engineering from Rensselaer Polytechnic Institute and a Bachelors in
Metallurgical Engineering and Materials Science from Carnegie Mellon University.
Mr. Browning will serve on the Compensation and
Government Affairs Committees
Mr. Matthew F. Hilzinger
Mr. Hilzinger possesses extensive expertise in the areas of financial and risk management gained from a variety of senior financial
leadership roles including Chief Financial Officer of one of the largest power providers in the USA. Currently, Mr. Hilzinger is Executive Vice President and Chief Financial Officer for USG Corporation, a building products company, where he
oversees all financial activities as well as strategic planning and information technology. Previously, Mr. Hilzinger spent 10 years at Exelon Corporation advancing to Chief Financial Officer where he was responsible for finance and risk
management. Prior to Exelon, Mr. Hilzinger held a variety of financial and operating roles, including Corporate Controller at Kmart Corporation, Vice President International Operations at Handelman Company and Manager at Arthur Andersen.
Mr. Hilzinger was a certified public accountant and holds a bachelors degree in business administration from the University of
Michigan in Ann Arbor.
Mr. Hilzinger will serve on the Audit & Finance Committee and the Nominating & Corporate
Governance Committee.
Both Matt and Paul bring relevant industry knowledge and experience as well as global business acumen that will be of
tremendous value in supporting our growth, said Chip Bottone, Chief Executive Officer, FuelCell Energy, Inc.
I am attracted to the global
growth opportunity of Fuel Cell Energy, as countries around the world take advantage of the affordable, efficient, clean and reliable generation of distributed electric power from fuel cells - using chemistry rather than combustion, commented
Paul Browning. I look forward to contributing to the future growth of the Company.
The declining cost profile of the FuelCell Energy
power generation solutions as well as the ability to attract long-term project capital in the market from a variety of sources including yieldcos caught my attention, commented Matthew Hilzinger. This is an exciting opportunity to
support the Companys growth strategy of deploying of utility scale distributed generation solutions and leveraging the unique opportunities in adjacent markets such as distributed hydrogen and carbon capture enabled by the core technology
platform.
About FuelCell Energy
Direct
FuelCell® power plants are generating ultra-clean, efficient and reliable power at more than 50 locations worldwide. With more than 300 megawatts of power generation capacity installed or in backlog, FuelCell Energy is a global leader in
providing ultra-clean baseload distributed generation to utilities, industrial operations, universities, municipal water treatment facilities, government installations and other customers around the world. The Companys power plants have
generated more than three billion kilowatt hours of ultra-clean power using a variety of fuels including renewable biogas from wastewater treatment and food processing, as well as clean natural gas. For additional information, please visit
www.fuelcellenergy.com, follow us on Twitter and view our videos on YouTube.
Direct FuelCell, DFC, DFC/T, DFC-H2 and FuelCell Energy, Inc. are all registered trademarks of FuelCell Energy,
Inc. DFC-ERG is a registered trademark jointly owned by Enbridge, Inc. and FuelCell Energy, Inc.
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Contact: |
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FuelCell Energy, Inc. Kurt Goddard, Vice
President Investor Relations 203-830-7494
ir@fce.com |
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