FuelCell Energy Inc NEW (DE) - FCEL STOCK NEWS

FuelCell Energy (NASDAQ: FCEL) announced a public offering of 43,500,000 shares priced at $2.10 each, aiming for gross proceeds of approximately $91.35 million. The offering is set to close around October 2, 2020. Proceeds will be utilized for project development, financing, working capital, and potentially redeeming preferred stock and repaying debts. The company has granted underwriters a 30-day option for an additional 6,525,000 shares. J.P. Morgan, Barclays, and Canaccord Genuity are co-managers of the offering.

FuelCell Energy (Nasdaq: FCEL) announced a public offering of 31 million shares of its common stock, with an option for underwriters to purchase an additional 4.65 million shares. The proceeds will be used for project development, financing, general corporate purposes, and to redeem preferred stock and repay outstanding debt. J.P. Morgan, Barclays, and Canaccord Genuity are managing the offering. The registration statement has been filed with the SEC. FuelCell Energy focuses on environmentally responsible power solutions through its proprietary fuel cell technology.

FuelCell Energy (NASDAQ: FCEL) announced a public offering of 31,000,000 shares of common stock with a potential additional 4,650,000 shares for underwriters. Proceeds from this offering are designated for project development, financing, working capital, and reducing debt. The registration statement has been filed with the SEC and is effective. J.P. Morgan, Barclays, and Canaccord Genuity are managing the offering. This initiative reflects the company's ongoing commitment to expand its environmentally responsible power solutions.

FuelCell Energy (NASDAQ: FCEL) has been awarded four projects totaling 11.2 megawatts by Connecticut's electric distribution companies as part of the Shared Clean Energy Facility Program. Each project will generate 2.8 megawatts of clean energy, sufficient to power 3,000 homes. The projects, located in New Britain, East Hartford, Derby, and Danbury, will enhance Connecticut’s clean energy goals and grid resiliency. FuelCell Energy aims to finalize power purchase agreements and site approvals to commence these projects, which promise environmental benefits and continuous, reliable energy.

FuelCell Energy, Inc. (Nasdaq: FCEL) announced the award of four projects totaling 11.2 megawatts by Connecticut local distribution companies under the Shared Clean Energy Facility program. Each of the four power plants will provide 2.8 megawatts of clean energy, enough to power approximately 12,000 homes. The projects are located in New Britain, East Hartford, Derby, and Danbury, supporting Connecticut's clean energy goals. The company aims to enhance grid resiliency and deliver pricing benefits to electric customers under 20-year agreements.

FuelCell Energy (NASDAQ: FCEL) has been awarded $3.0 million by the U.S. Department of Energy to enhance the development of its Reversible Solid Oxide Fuel Cell Systems. This funding will focus on improving performance and advancing commercialization efforts. The project aims to efficiently convert excess power into hydrogen for long-term storage, contributing to clean energy solutions. CEO Jason Few emphasized the urgent need for cost-effective long-duration energy storage in light of increasing intermittent energy sources on the grid.

FuelCell Energy (FCEL) reported a net loss of $(15.3) million for Q3 FY2020, up from $(5.3) million a year prior. Revenues decreased by 18% to $18.7 million, driven by a 38% decline in Service and License revenues. Operating expenses fell 16% to $7.6 million. The company's backlog decreased by 3.9% to $1.33 billion. Despite these challenges, FCEL raised $70.1 million through share offerings to bolster liquidity and growth potential.

FuelCell Energy (NASDAQ: FCEL) announced its third quarter results release scheduled for September 10, 2020, before the market opens. Management will hold a conference call that day at 10:00 a.m. Eastern Time to discuss the results. Participants can join via webcast or by phone at 647-689-4106 using the conference ID 7085463. FuelCell Energy focuses on developing environmentally responsible power solutions utilizing its proprietary fuel cell technology, appealing to various markets including utility companies and municipalities.

FuelCell Energy (Nasdaq: FCEL) has resumed manufacturing at its Torrington, CT facility, temporarily closed due to COVID-19 on March 18, 2020. During the shutdown, the company maintained employee pay and continued research on carbon capture and hydrogen technology agreements. The CEO highlighted safety measures implemented for reopening, including social distancing protocols. The company is committed to compliance with Connecticut’s economic guidelines and is progressing on several projects, including a 7.4 MW fuel cell project for the U.S. Navy.