WATT Fuel Cell Corp. Acquires Pittsburgh Electric Engines, Inc.

PEEI’s Proven Tubular SOFC Technology to Expand WATT’s System Power Range, Market Application Capabilities. PORT WASHINGTON, N.Y., April 24, 2014 – WATT Fuel Cell Corp. (WATT), a developer and manufacturer of solid oxide fuel cell (SOFC) components and systems, announced today its purchase of Mt. Pleasant, Penn.-based tubular SOFC developer Pittsburgh Electric Engines, Inc. (PEEI). The acquisition agreement, finalized on April 17, made PEEI a wholly owned subsidiary of WATT and facilitates combining both companies’ fuel cell technologies and personnel into a single entity.