Fuelcell Energy Stock Price, News & Analysis

FuelCell Energy (NASDAQ: FCEL) has announced a strategic partnership with Diversified Energy and TESIAC to form an Acquisition and Development Company (ADC) aimed at supplying up to 360 megawatts of electricity to data centers across Virginia, West Virginia, and Kentucky.

The collaboration will utilize natural gas and captured coal mine methane (CMM) to generate power through fuel cell technology, converting methane to hydrogen and then to electricity. The process is virtually emission-free and qualifies for environmental and tax credits. The partnership structure includes:

• Diversified Energy supplying natural gas and CMM from Appalachian Basin
• FuelCell Energy deploying fuel cell platforms for power generation
• TESIAC providing financing and development expertise

The initiative aims to create hundreds of jobs in construction, operation, maintenance, and engineering while offering behind-the-meter solutions for data centers, innovative financing models, and carbon-optimized power generation. The project targets operational power delivery within two years.

FuelCell Energy (FCEL) and Malaysia Marine and Heavy Engineering (MHB) have signed a Joint Development Agreement (JDA) to co-develop large-scale hydrogen production systems across Asia, New Zealand, and Australia. The collaboration builds on their February 2023 memorandum of understanding.

The partnership combines FuelCell Energy's solid oxide electrolyzer (SOEC) technology with MHB's large-scale fabrication expertise to develop modular solutions for commercial hydrogen production. Additionally, FuelCell Energy has been awarded a Detailed Feasibility Study (DFS) contract for a low-carbon fuel production facility in Malaysia, utilizing SOEC technology with carbon dioxide and water as feedstocks. The project will incorporate KBR 's proprietary low-carbon fuel synthesis technology.

This initiative aligns with Malaysia's goal to achieve net-zero carbon emissions by 2050 while advancing its national hydrogen value chain.

FuelCell Energy (NASDAQ: FCEL) has scheduled its first quarter 2025 financial results release before market open on March 11, 2025. The company will host a conference call with investors at 10:00 a.m. Eastern Time on the same day to discuss results and provide business updates.

Investors can access the call through a live webcast on the company's website or by dialing (888) 330-3181 with conference ID 1099808. The call replay will be available approximately two hours after conclusion on the company's Investors page.

FuelCell Energy, established in 1969, is a clean energy technology pioneer with over 530 patents. Their fuel cells, operational for more than 20 years, can run on various fuels including natural gas, hydrogen, and biofuel, serving applications from grid support to distributed baseload power for data centers and industrial operations.

FuelCell Energy (FCEL) has published its 2024 Annual and Sustainability Reports, highlighting significant business achievements and environmental progress. The company added approximately $250 million to its revenue backlog in 2024 through utility-scale projects and advancement of clean energy technology, including a carbon capture platform with ExxonMobil.

The company expanded its service business through long-term agreements with Gyoenggi Green Energy Co., and Sacramento Area Sewer District. Following a global restructuring in late 2024, FCEL remains focused on growth and operational streamlining. CEO Jason Few emphasized the company's fuel-flexible technology and proven commercial platforms, particularly highlighting their carbonate platform's potential in natural gas applications.

The 2024 Sustainability Report showcases key achievements including establishing an annual GHG emissions inventory, completing a product-level life cycle assessment, conducting a climate risk assessment, implementing a sustainability governance model, and earning ISS ESG Prime status.

FuelCell Energy (FCEL) has begun testing its solid oxide electrolysis cell (SOEC) system at Idaho National Laboratory (INL), marking the largest and first fully integrated electrolyzer tested at the facility. The project, partially funded by a 2020 DOE award, aims to study hydrogen production's role in diversifying nuclear plants' profitability.

The system will produce 150 kilograms of hydrogen daily using 250 kilowatts of nuclear-generated electricity, demonstrating 100% efficiency when utilizing nuclear plant waste heat. This efficiency could reduce clean hydrogen production costs by up to 30%. The electrolyzer's modular design, shipped on two flatbed trucks, offers easy scaling and siting capabilities.

The testing will evaluate real-world applications, including thermal energy usage from nuclear reactors, grid dynamics, and reactor control simulation. The system will also be showcased to global energy industry visitors at INL, with produced hydrogen supporting ongoing research in e-chemical synthesis, turbine co-firing, and vehicle refueling.

FuelCell Energy (FCEL) has secured a contract to construct a 7.4 MW fuel cell power plant in Hartford, Connecticut. The project will provide Class 1 renewable baseload power to the local grid under a 20-year power purchase agreement with Eversource and United Illuminating, expected to generate over $160 million in future revenue for the company's generation backlog.

The Hartford project aims to strengthen the public electricity grid in a important commercial and industrial area. The company emphasizes that fuel cells are particularly suitable for urban environments, offering space-efficient, quiet, and emission-free distributed energy. The project will utilize low-emission natural gas without combustion, effectively eliminating SOx, NOx, and particulate matter emissions.

The announcement highlights FuelCell Energy's existing projects, including a 15 MW plant in Bridgeport (since 2012), a 14 MW plant in Derby (since 2023), and a 58.8 MW facility in South Korea's Hwaseong Baran Industrial Complex.

FuelCell Energy (NASDAQ: FCEL) reported its Q4 and FY2024 results. Q4 revenue increased 120% to $49.3 million, primarily driven by module sales to Gyeonggi Green Energy in South Korea. However, Q4 gross loss widened to $(10.9) million from $(1.5) million year-over-year.

For FY2024, revenue declined 9% to $112.1 million, with increased losses from operations at $(158.5) million compared to $(136.1) million in FY2023. The company announced a global restructuring plan targeting 15% operating cost reduction in FY2025, including a 13% workforce reduction.

The company's backlog increased 13.1% to $1.16 billion as of October 31, 2024. Cash position stood at $318.0 million, down from $403.3 million year-over-year. Management expects material revenue improvement in FY2025, driven by contracted module deliveries.

FuelCell Energy (NASDAQ: FCEL) has scheduled its fourth quarter and fiscal year 2024 financial results release before market open on December 19, 2024. The company will host a conference call with investors at 10:00 a.m. Eastern Time on the same day to discuss results and provide business updates.

Investors can access the call via webcast on the company website or by dialing (888) 330-3181 with conference ID 1099808. The company, a global leader in sustainable energy technologies, holds 531 fuel cell technology patents in the United States and globally.

FuelCell Energy (FCEL) announced a global restructuring to reduce operating costs by 15% in FY2025. The plan includes a 17% workforce reduction and focuses on core technologies for distributed power generation, grid resiliency, and data center growth. The company will prioritize its Connecticut-manufactured molten carbonate technology and continue developing carbon capture solutions. Despite the restructuring, FCEL expects to maintain manufacturing run-rates at or above FY2024 levels and reports cash and equivalents exceeding $300 million as of October 31, 2024. The company cites slower-than-expected clean energy investments and aims to capitalize on opportunities in power shortages, data centers, and AI growth.