Fuelcell Energy Stock Price, News & Analysis

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.

FuelCell Energy (Nasdaq: FCEL) reported a 17% year-over-year revenue increase to $16.4 million in Q2 fiscal 2022. However, the company experienced a gross loss of $7.3 million, up from $4.8 million the previous year, and a net loss of $30.1 million compared to $18.9 million in Q2 2021. The backlog remained stable at $1.33 billion as of April 30, 2022. Key developments included the extension of a Joint Development Agreement with ExxonMobil and ongoing investments in hydrogen commercialization. Revenue from service agreements grew by 300%, while advanced technologies contract revenues fell by 34%.

FuelCell Energy (FCEL) has announced a memorandum of understanding with TuNur Ltd., focusing on renewable energy projects in North Africa. This collaboration aims to utilize Tunisia's solar resources for producing low-cost green hydrogen, contributing to energy independence for both North Africa and Europe. The partnership will leverage FuelCell Energy's electrolysis platform, optimizing hydrogen transport via existing infrastructure. This initiative not only supports regional climate goals but also positions Tunisia as a key energy hub in the Mediterranean.