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 reported a revenue increase of 114% year-over-year, totaling $31.8 million in Q1 FY2022, driven by product revenue from module sales to Korea Fuel Cell Co. The gross loss improved to ($2.9 million) from ($3.6 million), while net loss remained relatively stable at ($46.1 million). Non-recurring legal expenses of $24 million impacted operating results. The company maintained a backlog of $1.31 billion and aims for production capacity of 45-50 MW in FY2022.
The upcoming first quarter fiscal year 2022 results for FuelCell Energy (NASDAQ: FCEL) will be released on March 10, 2022, before the stock market opens. Following the results, management will host a conference call at 10:00 AM ET to discuss the performance. Participants can access the call through a live webcast on the company's website or via telephone. FuelCell Energy focuses on sustainable clean energy technologies, particularly in fuel cell technology, targeting large-scale power users globally.
FuelCell Energy (Nasdaq: FCEL) has been awarded $6.8 million for a carbon capture demonstration project as part of Canada’s Clean Resource Innovation Network (CRIN). The project aims to utilize the company’s proprietary carbonate fuel cell technology, which captures carbon dioxide while generating clean electric power. This unique approach provides an economical solution to carbon capture, reducing operational costs through power generation. The project involves collaboration with major industry players like Canadian Natural Resources and Suncor Energy, highlighting FuelCell Energy's role in advancing decarbonization in the oil and gas sector.
FuelCell Energy (Nasdaq: FCEL) announced a virtual investor day scheduled for March 16, 2022, at 10:00 a.m. ET. The event aims to discuss the company's long-term growth strategies, business execution, financial outlook, and capital allocation priorities. Key executives, including President Jason Few and CFO Michael Bishop, will present during this session, which will also include two Q&A segments. Interested parties can access the live webcast and presentation materials on the company's Investor Relations webpage. Registration is required for participation.
FuelCell Energy (NASDAQ: FCEL) has commenced conditional commercial operations of its 7.4 MW SureSource™ fuel cell project in Yaphank, NY. This initiative aims to deliver 24/7 clean power sufficient for approximately 7,500 homes, transitioning a landfill into a clean energy park. The project, funded with $12.4 million from Franklin Park, incorporates fuel cells, solar fields, and harvested methane gas, supporting Brookhaven's environmental goals and enhancing grid resiliency. The company plans to utilize back-leverage debt financing to bolster its capital structure.
FuelCell Energy (FCEL) reported its Q4 FY2021 results, showing revenues of $13.9 million, down 18% from the previous year. The loss from operations increased to $(22.6 million) compared to $(17.1 million) in Q4 FY2020. For the fiscal year, total revenues were $69.6 million, slightly down 2%, with a net loss of $(101.0 million). The company reported unrestricted cash of $432.2 million as of October 31, 2021, and maintains a backlog of $1.29 billion. The CEO expressed optimism about technology advancements and market opportunities, aiming for growth in FY2022.
FuelCell Energy confirms it has secured exclusivity to sell its technology in Asia, particularly South Korea, through a settlement agreement with POSCO Energy. The agreement grants a firm order for a minimum of 20 SureSource modules for servicing existing projects in South Korea during 2022. This resolution eliminates legal uncertainties, allowing FuelCell to expand its market presence while ensuring quality service for current customers. FuelCell aims to support the energy transition in the Asian market and is keen on promoting its unique hydrogen platforms.
FuelCell Energy (FCEL) announced the release of its fourth quarter and fiscal year 2021 results, scheduled for December 29, 2021, before the market opens. The company has been classified as a large accelerated filer by the SEC, requiring it to file its annual report on Form 10-K no later than 60 days after October 31. Management will host a conference call at 8:00 a.m. ET on the same day to discuss financial results. Investors can access the call via webcast or by phone.
FuelCell Energy, Inc. (Nasdaq: FCEL) has appointed Joshua Dolger as Executive Vice President, General Counsel, and Corporate Secretary, removing his interim status. Dolger, who has served in this interim role since June 2021, brings significant legal experience from Terex Corporation and prior roles. His appointment is expected to strengthen FuelCell's leadership as the company advances in clean energy solutions. Dolger’s expertise in corporate governance and strategic initiatives is anticipated to enhance the firm’s operational capabilities during its growth phase.
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