Morgan Stanley unveiled a new fuel cell system manufactured by Bloom Energy last week. The system, which was installed at the firm’s headquarters facility in Purchase, NY, is now operational and supplying energy to the building. Along with a solar panel field completed earlier this year, the fuel cell system is the latest in a series of initiatives to improve the facility’s energy efficiency and resiliency.
The Bloom Energy fuel cell system produces electricity without burning fossil fuels, thus reducing emission of greenhouse gases. It will supply approximately 250 kW of constant base load power to the facility, as well as grid-independent electricity to power portions of the building’s critical load 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, Chief Operating Officer of Morgan Stanley. “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.”
Bill Kurtz, chief financial and commercial officer at Bloom Energy, added, “By installing our business continuity solution, Morgan Stanley can protect its business operations from grid events and mitigate the risk of escalating energy prices.”
The new solid oxide fuel cell system (SOFC) technology converts fuel into electricity through a highly efficient electrochemical process, resulting in on-site, clean and reliable power. Combined with the solar field, these new installations are expected to produce approximately 3 million kWh of energy a year. During peak energy consumption times, they can supply approximately 1MW, or up to 30% of the building’s demand. Support for this project was provided by the New York State Energy Research and Development Authority (NYSERDA).