Posted in | News | Energy | Fuel Cell

FuelCell Energy and Versa Power Complete Asset Transfer

Nov 3 2004

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FuelCell Energy, Inc., a leading manufacturer of large stationary fuel cell power plants for commercial and industrial customers, announced today that it has consummated its previously announced sale of its Canadian solid oxide fuel cell operations to Versa Power Systems (Versa). In exchange, FuelCell Energy received stock in Versa, increasing its ownership position in Versa from 16 percent to 42 percent.

On October 29, 2004, all of the approximately 2 million issued and outstanding exchangeable shares of FuelCell Energy, Ltd. were redeemed in exchange for shares of FuelCell Energy, Inc. common stock on a one-for-one basis. This has no impact on the total number of outstanding shares of FuelCell Energy's common stock.

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