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.
FuelCell Energy, Inc. (NASDAQ: FCEL) announced the completion of site construction and commencement of commercial operations at the U.S. Navy Submarine Base in Groton, Connecticut, on December 16, 2022. This project adds 7.4 megawatts to the company's generating capacity, totaling 43.7 megawatts, though it will operate at approximately 6 megawatts during its first year. The project supports the Navy's decarbonization goals and is partially financed by a $15 million tax equity transaction with East West Bank.
FuelCell Energy, Inc. (NASDAQ: FCEL) announced the appointment of Alexandrea Isaac, Senior Counsel, to the Department of Commerce's Renewable Energy and Energy Efficiency Advisory Committee (REEEAC). This committee advises on enhancing the export competitiveness of US renewable energy products. Isaac aims to advocate for American businesses in the global energy market and promote clean hydrogen and carbon capture technologies.
The REEEAC will address trade policies, market opportunities, and U.S. Government programs affecting the competitiveness of renewable energy exports.
FuelCell Energy (Nasdaq: FCEL) announced it will release its fourth quarter and fiscal year 2022 results on December 20, 2022, prior to the stock market opening. Following the announcement, management will host a conference call at 10:00 AM ET to discuss the results. Investors can join the call through a live webcast on the company's website or by dialing in directly. FuelCell Energy specializes in decarbonizing power and hydrogen production using its innovative fuel cell technology, partnering with major corporations like ExxonMobil and Toyota to achieve clean energy solutions.
FuelCell Energy (Nasdaq: FCEL) announced the acceptance of orders for its solid oxide electrolyzer and fuel cell platform, aimed at providing flexible energy solutions. This platform allows organizations to transition to 100% zero-carbon hydrogen and manage energy from diverse sources.
The technology promises a 20-30% reduction in hydrogen production costs and operates at 90% electrical efficiency. The platform is undergoing testing at the U.S. Department of Energy’s Idaho National Laboratory, enhancing its commercialization prospects.
FuelCell Energy reported third-quarter fiscal 2022 results, showing revenues of $43.1 million, a 61% increase year-over-year from $26.8 million. However, the company faced a gross loss of $(4.2) million compared to a gross profit of $1.1 million in the same period last year.
The net loss widened to $(29.0) million, up from $(12.0) million. Operating expenses surged to $23.8 million, influenced by increased sales and marketing efforts. Despite challenges, the company anticipates revenue growth, aiming for over $300 million by fiscal year 2025.
FuelCell Energy, Inc. (Nasdaq: FCEL) has announced the release of its third quarter fiscal year 2022 results set for September 8, 2022, before the stock market opens. Following the results, a conference call with investors will occur at 10:00 a.m. ET to discuss performance and provide insights. Participants can access the call via a webcast on the company’s website or by phone. FuelCell Energy focuses on decarbonizing power and producing hydrogen through innovative fuel cell technology.
FuelCell Energy (Nasdaq: FCEL) celebrates the passage of the Inflation Reduction Act (IRA) of 2022, a landmark legislation promoting clean energy investments. The IRA offers substantial incentives including tax credits and loan guarantees for fuel cell technology users and producers. CEO Jason Few highlights that these mechanisms will foster long-term market certainty, facilitating investments in clean energy. Additionally, the act supports U.S.-based innovation and manufacturing, crucial for deploying clean energy solutions, especially in communities facing economic challenges.
FuelCell Energy, Inc. (Nasdaq: FCEL) announced that President and CEO Jason Few will present at the Canaccord Genuity 42nd Annual Growth Conference on Thursday, Aug 11, 2022, at 12:30 p.m. ET. The 25-minute presentation will provide a corporate overview and insights into the company's innovative fuel cell technologies aimed at decarbonizing power and producing hydrogen. Interested attendees can register for the event at this link. A replay and transcript will be available post-event.
FuelCell Energy (NASDAQ: FCEL) has launched a new Carbon Savings Calculator aimed at helping businesses understand and recycle their CO2 emissions from operations. This tool offers a sustainable alternative to purchasing CO2 from high-polluting sources, mitigating risks related to rising CO2 prices. With increasing net-zero targets, companies across various industries can utilize captured CO2 for applications such as food processing, beverage production, and dry ice manufacturing, thus enhancing sustainability and cost efficiency.
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