WATT Is "Fueled" By The Leadership Of A New Chairman Of The Board Morgan K. O'Brien

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May 21, 2020, 09:30 ET

PITTSBURGH, May 21, 2020 /PRNewswire/ -- WATT Fuel Cell, a leading developer and manufacturer of clean, efficient and affordable Solid Oxide Fuel Cell (SOFC) systems, is pleased to announce the appointment of Morgan K. O'Brien as Chairman of the Board as it nears commercialization of residential fuel cells.

A 25-plus year veteran of the energy industry, Mr. O'Brien, a member of the WATT board since 2018, has previously served the roles as President and CEO of Peoples Natural Gas Company, LLC and Duquesne Light Company. Mr. O'Brien was elected chairman of the board as part of an initial closing of a larger investment round.

"We are delighted that someone of Morgan O'Brien's caliber and experience will chair the board. His extensive domain expertise and outstanding track record growing companies will be invaluable to our future success", said Rich Romer, CEO of WATT Fuel Cell.

WATT's product development phases are focused on the how, and not if, fuel cells will become the means to powering residential homes. WATT is sparking many exciting conversations in the energy and utility market as it has initiated Phase 2 (Beta) of its Joint Development and Commercialization Agreement with Peoples Gas. WATT's roadmap, enabled by a diversified patent portfolio, influences the future as it continues towards the goal of commercial deployments of fuel cells for residences within the Peoples service territory.

The systems installed as part of the Peoples' field trial are residential Imperium SOFC Systems that cleanly and efficiently convert natural gas through an electrochemical reaction to electricity. It works in parallel with the electric grid, as well as other renewable resources such as solar, to generate power on-site at the time of need.

With over 60 million homes using natural gas in the United States, the success of the Peoples field trial is expected to advance WATT's commercialization activities nationally and afford WATT the ability to work with other distributed natural gas partners in the future, as well as help pave the way into key industrial markets.

Morgan O'Brien said: "With the first installations of the WATT fuel cells into homes becoming a reality, we can see the power of combining the best of our innovation and technology with the rich and plentiful natural resource that sits here. We are one step closer to having this clean, inexpensive and reliable source of energy available to every family in a way that will be incredibly responsible to our environment for generations to come."

"Mr. O'Brien has been a champion for WATT over the last 2 years and as Chairman of the Board he is driving growth within our product testing, product launches, and investment," added Caine Finnerty, President & Founder, WATT Fuel Cell. "We believe that WATT will successfully commercialize the technology and see exponential growth because of his deep operational experience and the backing of our new investment round."

About WATT

WATT Fuel Cell Corporation is a manufacturer and developer of Solid Oxide Fuel Cell stacks and systems that operate on common, readily available fuels such as propane and natural gas. WATT's proprietary patented additive manufacturing process (AMP) has allowed them to produce commercially viable SOFC products for small scale and remote power applications. WATT's systems work in tandem with renewable power sources (Solar & Wind) and energy storage to provide quiet, efficient, affordable, and environmentally responsible energy solutions prioritizing a return on investment for customers across the globe. For more information about the WATT team and its product development go to wattfuelcell.com for more information.

FORWARD-LOOKING STATEMENTS

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SOURCE WATT Fuel Cell