Fuel cell system and method of operating thereof at near one hundred percent fuel utilization

A fuel cell system comprising:

• a hotbox;
• a fuel cell stack disposed in the hotbox;
• a fuel inlet conduit configured to provide fuel to the fuel cell stack from an external fuel source;
• an anode recuperator heat exchanger configured to heat fuel in the fuel inlet conduit by extracting heat from anode exhaust output from the fuel cell stack;
• an anode exhaust cooler heat exchanger;
• a splitter located between the anode recuperator heat exchanger and the anode exhaust cooler heat exchanger, and configured to divide the anode exhaust output from the anode recuperator heat exchanger into a first anode exhaust stream and a second anode exhaust stream, wherein the anode exhaust cooler heat exchanger is configured to heat air provided to the stack using the first anode exhaust stream;
• a gas separator;
• and
• an anode exhaust cooler bypass fluidly connecting the splitter to the gas separator, and configured to provide the second anode exhaust stream from the splitter to the gas separator while bypassing the anode exhaust cooler heat exchanger,
• wherein the anode exhaust cooler bypass is at least partially defined by an inner surface of the anode exhaust cooler heat exchanger and an outer surface of the fuel inlet conduit.