Fuelcell Energy Stock Price, News & Analysis

FuelCell Energy (FCEL) announced the release of its fourth quarter and fiscal year 2021 results, scheduled for December 29, 2021, before the market opens. The company has been classified as a large accelerated filer by the SEC, requiring it to file its annual report on Form 10-K no later than 60 days after October 31. Management will host a conference call at 8:00 a.m. ET on the same day to discuss financial results. Investors can access the call via webcast or by phone.

FuelCell Energy, Inc. (Nasdaq: FCEL) has appointed Joshua Dolger as Executive Vice President, General Counsel, and Corporate Secretary, removing his interim status. Dolger, who has served in this interim role since June 2021, brings significant legal experience from Terex Corporation and prior roles. His appointment is expected to strengthen FuelCell's leadership as the company advances in clean energy solutions. Dolger’s expertise in corporate governance and strategic initiatives is anticipated to enhance the firm’s operational capabilities during its growth phase.

FuelCell Energy, Inc. (Nasdaq: FCEL) has secured a $12.7 million tax equity financing agreement with Franklin Park for its 7.4 MW fuel cell project in Yaphank, Long Island. This funding follows the mechanical completion of the project, with commercial operations expected by the end of December 2021. The financing will help the company monetize investment tax credits and retain cash flow, enhancing overall return on equity. Franklin Park aims to expand its tax equity investments, with plans for a second project in 2022.

FuelCell Energy, Inc. (Nasdaq: FCEL) appointed Betsy Bingham as an independent director effective December 3, 2021. Currently the Lean Operations Leader at GE Aviation, Bingham will enhance the board's expertise in operational efficiency and sustainability. Her background includes leadership roles at GE Digital and Honeywell International, focusing on lean transformation. This appointment expands the board to eight directors, with seven being independent. Management expresses optimism that Bingham's extensive experience will drive strategic actions for growth.

FuelCell Energy (NASDAQ: FCEL) announced an extension of its Joint Development Agreement with ExxonMobil, now set to continue until April 30, 2022. The agreement focuses on advancing carbonate fuel cell technology for carbon dioxide capture from industrial sites. Discussions for a pilot test at ExxonMobil's Rotterdam location, linked to the Porthos North Sea project, are ongoing. FuelCell Energy's technology uniquely captures CO₂ while generating power, potentially offering significant cost and scalability benefits over traditional methods.

FuelCell Energy (NASDAQ: FCEL) has commended California Governor Gavin Newsom's signing of Senate Bill 155, extending the Fuel Cell Net Energy Metering (NEM) program for two years. This initiative aims to enhance California's resilience against climate change impacts, reduce greenhouse gas emissions, and stabilize energy costs for customers. The Fuel Cell NEM program allows customers to install fuel cells up to five megawatts and provides relief from utility standby and departing load charges, promoting investments in clean energy technology.

FuelCell Energy reported a revenue increase of 43% to $26.8 million in Q3 FY2021 compared to $18.7 million in Q3 FY2020. The company achieved a gross profit of $1.1 million compared to a gross loss of $(3.1) million the previous year. Despite a net loss of $(12.0 million, it was an improvement from $(15.3 million). Unrestricted cash rose significantly to $468.6 million. However, backlog decreased 2.2% to $1.30 billion due to adjustments in generation backlog. The company continues to invest in innovation and infrastructure to support long-term growth.

FuelCell Energy (NASDAQ: FCEL) has announced its third-quarter earnings release set for September 14, 2021, prior to the market opening. Management will follow up with a conference call at 10:00 AM ET to discuss the results. Interested parties can access the live call via webcast on the company’s website or by phone. The company specializes in molten carbonate fuel cell technology, providing sustainable energy solutions worldwide, particularly targeting large-scale power users. FuelCell Energy has a strong presence in the U.S. and South Korea, aiming to expand globally.

FuelCell Energy (FCEL) announced a successful tax equity sale-leaseback financing for the 1.4 MW SureSource 1500™ biofuels project with the City of San Bernardino Municipal Water Department, totaling $10.2 million. This transaction, structured over ten years with Crestmark Equipment Finance, reflects strong market interest in the company's unique biofuel capabilities. The project will produce carbon-neutral renewable energy using onsite biogas, reducing greenhouse gas emissions and enhancing sustainability.