ADDING and REPLACING WATT Fuel Cell Completes Installation of its Latest Generation Fuel Cell System, WATT HOME™, within Peoples Natural Gas Service Territory
PITTSBURGH--(BUSINESS WIRE)--Add "Forward-Looking Statements" after last paragraph of release.
WATT Fuel Cell, in partnership with Essential Utilities, has successfully installed the next-generation WATT HOME solid oxide fuel cell system in Peoples Natural Gas' Western Pennsylvania service territory.
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The updated release reads:
WATT FUEL CELL COMPLETES INSTALLATION OF ITS LATEST GENERATION FUEL CELL SYSTEM, WATT HOME™, WITHIN PEOPLES NATURAL GAS SERVICE TERRITORY
Locally made fuel cell systems can serve as backup power source for homes by connecting to existing natural gas infrastructure
WATT Fuel Cell, in partnership with Essential Utilities, has successfully installed the next-generation WATT HOME solid oxide fuel cell system in Peoples Natural Gas' Western Pennsylvania service territory. The installation marks a significant step forward in enhancing energy efficiency and reliability for residential customers.
The WATT HOME system is a cutting-edge technology designed to provide safe, clean, efficient, and reliable energy directly to homes. This system operates by converting natural gas into electricity through an electrochemical process without combustion, offering a sustainable complement or alternative to traditional energy sources.
The installation of a WATT HOME system brings numerous advantages to the homeowner and community at large. Those advantages include increased efficiency, reduced greenhouse gas emissions, and a smaller physical footprint. As a back-up power solution, the WATT HOME system provides a dependable source of electricity, minimizing the impact of grid outages.
With the increasing strain on the PJM electric grid from extreme weather events and the retirement of baseload generators, the need for reliable backup power has never been greater. On average, U.S. electricity customers experience approximately 5.5 hours of electricity interruptions annually. WATT HOME fuel cell systems keep the lights on during outages without the noise or pollution created by standard backup power generators.
"The rising frequency and severity of power disruptions highlight the urgent need for resilient, efficient, and clean energy solutions,' said Caine Finnerty, CEO and Founder of WATT Fuel Cell. 'When the power goes out, the WATT HOME system activates to ensure your electricity is working all the time.'
Looking Ahead: Future Installations and Rollout Program
As part of Peoples' commitment to advance innovative energy solutions, Pennsylvania's largest natural gas utility plans pilot installations of the WATT HOME system in multiple company field offices. These projects will help define the installation and operational process across different use cases, informing a future public rollout.
'The partnership with WATT is the latest in a series of innovative concepts championed by Peoples to meet modern-day energy demands,' said Peoples President Michael Huwar. 'The WATT HOME system's groundbreaking technology has the potential to protect homeowners from volatility in power generation, offering a reliable, resilient and sustainable energy solution that leverages our region's abundant natural gas supply.'
For more information about the WATT HOME system, visit WattFuelCell.com.
About WATT Fuel Cell
WATT Fuel Cell (www.wattfuelcell.com) is a manufacturer and developer of Solid Oxide Fuel Cell ('SOFC') stacks and systems that operate on common, readily available fuels such as propane and natural gas. WATT's proprietary, patented additive manufacturing process (AMP) has allowed it to produce commercially viable SOFC products for small-scale and remote power applications. WATT's Hybrid Power Management system works in tandem with renewable power sources (solar and wind) and energy storage to provide quiet, efficient, affordable, and environmentally responsible energy solutions prioritizing a return on investment for customers across the globe.
About Peoples Natural Gas
Peoples, an Essential Utilities (NYSE:WTRG) company, provides clean, safe, affordable and reliable natural gas service to approximately 740,000 homes and businesses in Western Pennsylvania and Kentucky. Peoples is committed to its customers, its employees, the environment, and to the regions it serves.
About Essential Utilities
Essential Utilities, Inc. (NYSE:WTRG) delivers safe, clean, reliable services that improve quality of life for individuals, families, and entire communities. With a focus on water, wastewater and natural gas, Essential is committed to sustainable growth, operational excellence, a superior customer experience, and premier employer status. We are advocates for the communities we serve and are dedicated stewards of natural lands, protecting more than 7,600 acres of forests and other habitats throughout our footprint.
Operating as the Aqua and Peoples brands, Essential serves approximately 5.5 million people across 9 states. Essential is one of the most significant publicly traded water, wastewater service and natural gas providers in the U.S.
Forward-Looking Statements
This letter contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which generally include words such as 'believes,' 'expects,' 'intends,' 'anticipates,' 'estimates' and similar expressions. The Company can give no assurance that any actual or future results or events discussed in these statements will be achieved. Any forward-looking statements represent its views only as of today and should not be relied upon as representing its views as of any subsequent date. Readers are cautioned that such forward-looking statements are subject to a variety of risks and uncertainties that could cause the company's actual results to differ materially from the statements contained in this release. Such forward-looking statements include, but are not limited to statements relating to the capital to be invested by the water, wastewater, and gas distribution divisions of the Company. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements including the factors discussed in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q, which is filed with the Securities and Exchange Commission. For more information regarding risks and uncertainties associated with The Company's business, please refer to the Company's annual, quarterly and other SEC filings. The Company is not under any obligation - and expressly disclaims any such obligation - to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
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