Easton-based NuPower sells Bridgeport fuel cell project to New Jersey energy company
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HyAxiom, which earlier this year installed four stationary fuel cells on the southeastern side of the University of Hartford's campus, will build the fuel cells for a fuel cell project in Bridgeport.
Easton-based NuPower sells Bridgeport fuel cell project to New Jersey energy company
NuPower, an Easton-based fuel cell developer, has sold a 9.6-megawatt combined heat and power fuel cell project in Bridgeport to a New Jersey-based energy company.
Scale Microgrids, which is headquartered in Ridgewood, New Jersey, has acquired the pre-construction project, which is planned to occupy a half-acre parcel at 600 Iranastan Ave.
Scale will finance, build, own and operate the entire installation, which will be paired with a thermal loop, the company said.
Terms of the deal weren’t disclosed.
New York-based Investec Group and Tokyo-based Mitsubishi UFJ Financial Group Inc. will provide debt financing, while San Francisco-headquartered tax-credit firm Foss & Co. will contribute tax equity for the project.
HyAxiom, a South Windsor-based fuel cell maker that is owned by South Korea’s Doosan Corp., will manufacture, install, and operate the project’s fuel cells, which will convert natural gas into hydrogen through an electrochemical process.
The cells will produce combustion-free electricity and waste heat, which will be captured for use in a 1.6 mile-long thermal loop in Bridgeport’s South End, Scale said.
“This project is a terrific opportunity to deploy innovative clean energy technology to drive economic, reliability and sustainability outcomes in Bridgeport,” said Julian Torres, Scale’s chief investment officer. “We’re also proud to work with great in-state companies like NuPower and HyAxiom as we continue to expand our footprint in Connecticut more broadly.”
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