Frost & Sullivan Applauds ClearEdge Power for its Leadership in Capturing Market Share and Expanding Market Reach Recent acquisition made company a fuel cell market powerhouse
MOUNTAIN VIEW, Calif., April 21, 2014 /PRNewswire/ -- Based on its recent analysis of the stationary fuel cell market, Frost & Sullivan recognizes ClearEdge Power with the 2013 North America Frost & Sullivan Company of the Year Award. ClearEdge Power is driven by quality, innovation, and customer value. It has become one of the market leaders in the North American stationary fuel cell market in terms of overall growth, system efficiency, and market penetration through strategic acquisition.
ClearEdge Power's visionary leadership propels its strong growth in the fuel cell industry. The company leapfrogged into the upper strata of the market by acquiring UTC Power in early 2013. This acquisition provided it with a technological edge, intellectual capital and more than 50 years of accrued expertise in the fuel cell market, allowing it to deliver clean and continuous power solutions.
"The acquisition helped ClearEdge Power achieve its long-term strategy and vision of offering novel products and superior customer services across end-user segments in the North American fuel cell market," said Frost & Sullivan Research Analyst Rajalingam Chinnasamy. "It altered the company's image as a fuel cell manufacturer for residential and small commercial end-user segments to that of a manufacturer with diverse product offerings for all end-user segments, including utilities and industrial customers."
ClearEdge Power mastered the art of merging its smaller fuel cell systems with UTC Power's large power fuel cell systems to offer a complete product. It also exhibited leadership and implementation excellence throughout the change management process, which is evident from its recent announcement of a number of new projects across the globe.
ClearEdge Power's dedication to providing clean, energy-efficient, and reliable power solutions is evident in its development of the PureCell system models, which offer superior durability and operational experience. PureCell systems have product availability rates of more than 95 percent, efficiency of up to 90 percent, and 10 year stack life. PureCell fuel cell systems can follow the loads they are connected to and can be installed virtually anywhere, including on a rooftop or in a basement. Such flexibility goes a long way in helping ClearEdge Power's fuel cell systems outperform other fuel cells and batteries.
The PureCell Model 400 system offers 400kW of power supply along with 1.5 million Btu per hour of heat at an efficiency rate of up to 90 percent, which is much higher than the 30 to 40 percent offered by traditional centralized power plants in the United States. This helps customers generate more energy from the same source at a minimal cost. By providing high efficiency, its product generates high return on investment (ROI) in a shorter payback period.
ClearEdge Power has been actively expanding its sales force to accelerate market penetration. It has attracted a number of high-profile customers, including Verizon, and recently closed a multi-million dollar project with the company to install 19 fuel cell systems across the United States.
"The company has become one of the major players in the North American fuel cell market, with an approximate share of 15 to 20 percent in 2013," noted Chinnasamy. "Such strong growth makes ClearEdge Power a worthy recipient of the award."
Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in terms of growth strategy and implementation. The award recognizes a high degree of innovation with products and technologies, and the resulting leadership in terms of customer value and market penetration.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research to identify best practices in the industry.
About ClearEdge Power
ClearEdge Power provides clean, distributed power systems that scale from 5 kW to multiple megawatts. As the most experienced fuel cell producer, ClearEdge Power is transforming power generation with innovative solutions that help customers reduce electricity bills, improve energy efficiency and reduce carbon emissions. For more information, please visit http://www.clearedgepower.com
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SOURCE Frost & Sullivan