Welcome to our dedicated page for FuelCell Energy NEW (DE) news (Ticker: FCEL), a resource for investors and traders seeking the latest updates and insights on FuelCell Energy NEW (DE) stock.
FuelCell Energy Inc. (NASDAQ: FCEL) is a leading global provider of efficient, affordable, and clean energy solutions. The company specializes in the design, manufacture, installation, operation, and maintenance of megawatt-scale fuel cell systems. These systems cater to utilities, industrial clients, and large municipalities, offering solutions that include utility-scale and on-site power generation, carbon capture, local hydrogen production for transportation and industry, and long-duration energy storage.
Headquartered in Danbury, Connecticut, and with production facilities in Torrington, Connecticut, FuelCell Energy serves a global market, including North America, Europe, and Asia through strategic partnerships, such as with a South Korean partner. The company’s SureSource installations span three continents and have produced millions of megawatt hours of ultra-clean power.
FuelCell Energy’s core business revolves around decarbonizing power and producing hydrogen through proprietary fuel cell and electrolysis platforms. These innovative technologies are integral to industries such as wastewater treatment, commercial and hospitality, data centers and communications, education and healthcare, among others.
Recent achievements for FuelCell Energy include the extension of a joint development agreement with ExxonMobil Technology and Engineering Company, focusing on carbon capture technology that simultaneously generates electricity and hydrogen. This technology is being demonstrated in a pilot project at the Esso Nederland BV Rotterdam Manufacturing Complex, supported by European Union and Dutch grants.
FuelCell Energy has also initiated significant projects in the United States, such as the Sacramento Sewer district’s energy delivery and emissions management platform. This project creates clean electricity from onsite biofuel, emphasizing the company’s ability to provide renewable power solutions without combustion.
Financially, FuelCell Energy reported $22.4 million in revenue for the second quarter of fiscal 2024, despite a decrease from the previous year. The company’s ongoing projects and strategic agreements are expected to enhance revenue streams and market penetration.
FuelCell Energy’s commitment to innovation is evident in its extensive portfolio of 531 fuel cell technology patents. The company continues to lead the market in providing sustainable, clean energy solutions that address global challenges related to energy, safety, and urbanization.
Learn more at fuelcellenergy.com.
Microvast Holdings (NASDAQ: MVST) announced the appointment of Isida Tushe as General Counsel and Corporate Secretary. With extensive experience in power generation and renewables, Isida is expected to enhance Microvast's legal and compliance processes. Previously, she served as General Counsel for a tech firm focused on EV charging and led legal functions at a private equity-owned hydroelectric developer. Microvast aims to drive innovation in lithium-ion battery solutions, aligning with Isida's vision in supporting decarbonization efforts. The company's vertical integration capabilities enable it to manufacture a wide range of battery products for applications including electric vehicles and energy storage.
FuelCell Energy reported financial results for Q1 2023, showcasing revenues of $37.1 million, a 17% increase from $31.8 million in Q1 2022. The company generated a gross profit of $5.2 million, a significant recovery from a gross loss of $(2.9) million the previous year. Loss from operations improved to $(22.5) million, down from $(44.8) million. The net loss per share was $(0.05), compared to $(0.11) last year. FuelCell's cash and short-term investments stand at over $400 million. Key project updates include progress on the Toyota and Derby projects expected to reach commercial operation in 2023, and the ongoing partnership with ExxonMobil aimed at carbon capture solutions.
FuelCell Energy, Inc. (Nasdaq: FCEL) announced the release of its first quarter fiscal year 2023 results, set for March 9, 2023, before the market opens. Following this, management will hold a conference call at 10:00 a.m. ET to discuss the results and provide a business update. The call will be accessible via a live webcast on the company's website or by telephone. FuelCell Energy focuses on stationary fuel cell energy platforms aimed at decarbonizing power and producing hydrogen, partnering with industry leaders like ExxonMobil and Toyota to support their clean energy initiatives.
FAQ
What is the current stock price of FuelCell Energy NEW (DE) (FCEL)?
What is the market cap of FuelCell Energy NEW (DE) (FCEL)?
What does FuelCell Energy Inc. do?
Where is FuelCell Energy Inc. headquartered?
Which markets does FuelCell Energy serve?
What are some recent achievements of FuelCell Energy?
What is the joint development agreement with ExxonMobil about?
How is FuelCell Energy contributing to clean energy in the US?
What financial performance did FuelCell Energy report recently?
How many patents does FuelCell Energy hold?
What industries benefit from FuelCell Energy’s technologies?
How can I learn more about FuelCell Energy?
