Morgan Stanley unveiled a new fuel cell system manufactured by Bloom Energy. Bloom has a manufacturing site in Newark.
The system, which was installed at the firm’s offices in Purchase, NY, is now supplying energy to the building.
The fuel cell system, along with a solar panel field completed earlier this year, are the latest in a series of initiatives to improve the facility’s energy efficiency and resiliency.
The Bloom Energy fuel cell will supply approximately 250 kilowatts of power to the facility. The cells can also power portions of the building during grid outages.
“Environmental sustainability begins at home, and Morgan Stanley is committed to improving the energy efficiency and resiliency of all of our facilities,” said Jim Rosenthal, CEO. “Annual grid consumption at Westchester has dropped from 29.1 million kWh in 2008 to 23.7 million kWh projected for 2014. We are proud of the progress we’ve achieved so far and are excited to incorporate this new technology into our facility in Westchester.”
“We are excited to bring another Bloom Energy project online in New York,” said Bill Kurtz, chief financial and commercial officer at Bloom Energy. “By installing Bloom Energy’s business continuity solution, Morgan Stanley can protect its critical business operations from grid events and mitigate the risk of escalating energy prices.”
Combined with the solar field, these new installations are expected to produce approximately 3 million kilowatt hours (kWh) of energy a year. During peak energy consumption times, the combined systems can supply approximately one megawatt, or up to 30 percent of the building’s demand.
Support for this project was provided by the New York State Energy Research and Development Authority. Founded in 1975, NYSERDA is a public benefit corporation that provides information, services, programs and funding to help New Yorkers increase energy efficiency, save money, use renewable energy and reduce reliance on fossil fuels.
