FuelCell Energy Inc NEW (DE) - FCEL STOCK NEWS

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.

FuelCell Energy, Inc. (Nasdaq: FCEL) has secured a $12.7 million tax equity financing agreement with Franklin Park for its 7.4 MW fuel cell project in Yaphank, Long Island. This funding follows the mechanical completion of the project, with commercial operations expected by the end of December 2021. The financing will help the company monetize investment tax credits and retain cash flow, enhancing overall return on equity. Franklin Park aims to expand its tax equity investments, with plans for a second project in 2022.

FuelCell Energy, Inc. (Nasdaq: FCEL) appointed Betsy Bingham as an independent director effective December 3, 2021. Currently the Lean Operations Leader at GE Aviation, Bingham will enhance the board's expertise in operational efficiency and sustainability. Her background includes leadership roles at GE Digital and Honeywell International, focusing on lean transformation. This appointment expands the board to eight directors, with seven being independent. Management expresses optimism that Bingham's extensive experience will drive strategic actions for growth.