As part of its $75 million investment in the Danbury company, New Jersey energy conglomerate NRG Energy has named its member to the board of directors of FuelCell Energy.
Christopher Sotos, NRG senior vice president of strategy and mergers and acquisitions, was appointed on Monday to the FuelCell board of directors. He will not be paid or replace anyone on the current board, so its total membership is now eight.
NRG bought $35 million worth of shares in the fuel cell manufacturer, whose production facility is in Torrington. NRG also is providing a $40 million revolving loan fund for FuelCell’s project development.
Sotos, 43, came to NRG as a senior finance analyst in 2004, following nine years of financial roles with other companies in the NRG sector. One of FuelCell’s struggles is trying to find a way to be profitable, as no major fuel cell company has ever turned a profit making and selling the technology that generates electricity through a low emissions electrochemical process.