FuelCell Energy Inc (FCEL)

[Maximilliano]

Johnny Rotterdam is a joint demonstration project with an Exxon purchase order in the $11M range for modules and equipment from FCE. The PR said the "modules" are being made currently so it could be two 1.4MW modules. FCE and Exxon has stated they have achieved 90% C02 capture in the lab...not it's possible, and this project is to demonstrate that in an industrial environment.

It's a pilot fuel cell plant on Exxon's refinery that will scale to the exhaust flue gasses and the exhaust stream is then purified by chilling the stream to extract CO2 liquid. The purified CO2 can then be transported by pipeline for underground storage (demonstrated at Rotterdam) or used in a variety of applications such as beverage bottling, meat processing, or aid in the production of cement and plastics. (which FCE will have operational around October 2024)

"The Rotterdam pilot plant aims to obtain data on performance and operability of the carbonate fuel cell (CFC) technology, jointly developed with FuelCell Energy. Additionally, the pilot aims to address potential technical issues that may occur in a commercial environment and better understand the costs of installing and operating a CFC plant for carbon capture."

"Pending a successful demonstration, the technology could be deployed at ExxonMobil's manufacturing sites around the world."

While you are correct that a 500MW power plant would require 35-40 2.8MW modules...this Rotterdam project is not that.

https://investor.fce.com/press-releases/press-release-details/2023/ExxonMobil-to-Build-CCS-Pilot-Plant-with-FuelCell-EnergyUsing-Carbonate-Fuel-Cell-Technology/default.aspx

https://www.thechemicalengineer.com/news/exxonmobil-to-build-ccs-pilot-plant-using-carbonate-fuel-cell-technology/