FuelCell Energy Chief Technology Officer Recognized as'Energy All Star' By Mass High Tech

Dr. Hans Maru honored at 2003 Mass High Tech All-Star Awards for his contribution to Advanced Energy Technology

Danbury, Conn., October 24, 2003 -- FuelCell Energy, Inc. (NasdaqNM: FCEL), a leading manufacturer of stationary fuel cell power plants for distributed generation, announces that Dr. Hans Maru, chief technology officer, was recognized in the Energy category at the 2003 Mass High Tech All Star Awards in Boston. The Mass High Tech All-Star awards recognize superior achievements by individuals in New England's technology and engineering community, and Dr. Maru was honored for his 30-plus year contribution to the development and commercialization of fuel cells for electric power generation. For the past 10 years, FuelCell Energy has focused on the commercialization of Direct FuelCells for commercial and industrial-scale applications.

Mass High Tech, the Journal of New England Technology, announced this year's All-Stars at a banquet held at Boston Museum of Science.

According to publisher Mark Pillsbury, Mass High Tech's All-Star program, now in its eighth year, recognizes New Englanders from all sectors of the technology community who help make the region a center of innovation.

Pillsbury said, "The program spotlights the region's most innovative leaders whose achievements are most likely to affect how we work, live or play today and in the future."

"Hans Maru's leadership and technical expertise have brought FuelCell Energy's products out of the laboratory and into the hands of customers, where they are now generating electric power cleanly and efficiently at locations worldwide," said Jerry D. Leitman, chairman and CEO of FuelCell Energy. "I can't think of any single person currently working in the fuel cell industry who has done more to advance fuel cell technology to its current stage of commercial readiness."

Jim Malone, Mass High Tech editor, said, "In New England's high tech world, the Mass High Tech All-Stars are those people who set the bar that much higher."

"It is a pleasure to honor these outstanding members of New England's technology community," Malone added, "Mass High Tech wishes them further success, success that's sure to benefit everyone."

"I am honored that Mass High Tech has acknowledged the work of all FuelCell Energy
employees through this award," said Maru. "Our entire company is dedicated to making fuel cell power plants that meet the world's growing demand for electric power."

Dr. Maru is executive vice-president and chief technology officer at FuelCell Energy, Inc. He joined the company in 1977 and has since assumed increasing responsibility for the direction and management of a number of products including design, development, product testing, staffing, contract negotiations and planning.

Dr. Maru is an internationally recognized expert in the fuel cell generator field and has been granted 13 patents in this area. He has authored over 140 publications, including chapters in two books. He has also edited from symposium proceeding volumes for fuel cells and batteries.

He received a Ph.D. from Illinois Institute of Technology in Chemical Engineering in 1975.

The reception was sponsored by Goulston & Storrs, Grant Thornton, and Invest UK.

About Direct FuelCells

Direct FuelCells efficiently generate clean electricity at distributed locations near customer locations, including hospitals, schools, universities, hotels and other commercial and industrial facilities, as well as in grid-support applications for utility customers. Essentially, Direct FuelCells are like large, continuously operating batteries that generate electricity as long as fuel, such as natural gas, is supplied. Since the fuel is not burned, there is no pollution commonly associated with the combustion of fossil fuels. Because hydrogen is generated directly within the
fuel cell module from readily available fuels such as natural gas and wastewater treatment gas, DFC power plants are ready today and do not require the creation of a hydrogen infrastructure. This high-efficiency technology generates more electric power from less fuel and with less carbon dioxide emissions than traditional combustion methods.

About FuelCell Energy, Inc.

FuelCell Energy, Inc., based in Danbury, Connecticut, is a world leader 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