FuelCell Energy Inc. shareholders approve acquisition of Global Thermoelectric

DANBURY, Conn., Nov. 3, 2003 — FuelCell Energy Inc. announced that its shareholders have approved the acquisition of Global Thermoelectric Inc.

The acquisition is contingent upon the approval by Global Thermoelectric’s shareholders, a final order from the Alberta Court of Queen’s Bench and the consummation of the transaction scheduled for Nov. 3, 2003.

FuelCell Energy, Inc., based in Danbury, Connecticut, is a specialist in the development and manufacture of highly efficient hydrogen fuel cells for clean electric power generation, currently offering DFC power plant products ranging in size from 250 kilowatts to 2 megawatts for applications up to 50 megawatts.

The company has developed commercial distribution alliances for its carbonate Direct FuelCell technology with MTU CFC Solutions GmbH, a company of DaimlerChrysler AG, in Europe; Marubeni Corporation in Asia; and Caterpillar, PPL Energy Plus, Chevron Energy Solutions and Alliance Power in the U.S.

FuelCell Energy is developing Direct FuelCell technology for stationary power plants with the U.S. Department of Energy through its Office of Fossil Energy’s National Energy Technology Laboratory. More information is available at www.fuelcellenergy.com.

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