FuelCell Energy, Inc. reports developments in clean energy technology, fuel cell power systems, and distributed baseload generation. The company designs, manufactures, installs, and services high-temperature fuel cell systems used by data centers, utilities, industrial facilities, and distributed generation customers, with recurring updates on modular power blocks, customer applications, manufacturing activity, and international project work.
FCEL news also covers quarterly financial results, generation portfolio activity, backlog and liquidity commentary, project financing, restructuring-related operating updates, and governance changes. Recent company updates have emphasized data center power demand, standardized utility-grade fuel cell configurations, and financing for fuel cell module production tied to the Gyeonggi Green Energy project in South Korea.
FuelCell Energy (FCEL) completed the second tranche of its EXIM-supported financing, bringing the previously announced package to $49 million. The final balance was approximately $24.7 million before closing and transaction fees, completing the package approved by the Export-Import Bank of the United States in June 2026.
The financing supports delivery of five 2.8-megawatt FuelCell Energy Blocks to Gyeonggi Green Energy in South Korea. The transaction was structured under EXIM’s loan guarantee program, arranged with Private Export Funding Corporation and supported by AF Capital.
FuelCell Energy (FCEL) appointed Peter Hopper to its board of directors as it advances its strategy to power data centers. Hopper is co-founder and managing director of Primary Digital Infrastructure and brings more than 25 years of experience across digital infrastructure, investment and capital formation.
He previously co-led DigitalBridge’s approximately $11 billion take-private acquisition of Switch. Hopper will serve on FuelCell Energy’s Nominating, Governance & Sustainability and Compensation and Leadership Development committees.
FuelCell Energy (FCEL) received a 99.873% PJM capacity accreditation for its evaluated Block System under the 2028/2029 Reliability Backstop Procurement process. The assessment means PJM may count nearly 99.9 MW of every 100 MW evaluated as dependable capacity. Preliminary technology-class ratings for the same period are 96% for nuclear, 93% for diesel utility/engine-based backup and 67% for gas combustion turbines.
For eligible projects, accredited capacity may affect capacity-market participation and potential value, subject to market requirements and procurement or auction outcomes. Implementation of the procurement has been delayed following federal regulatory approval; future participation could require updated accreditation using revised assumptions and study inputs. The rating applies only to the evaluated system, not the technology class or operating uptime, and future assessments may differ.
FuelCell Energy (Nasdaq: FCEL) has appointed John Dansby as Senior Vice President, Scale Up Manufacturing to lead its manufacturing expansion.
His responsibilities include expanding the Torrington, Connecticut, operations to support 500 megawatts (MW) of annual capacity and developing manufacturing systems for growth beyond that level. FuelCell Energy said the scale-up is intended to meet customers’ growing need for reliable, distributed power that can be deployed quickly. Dansby most recently served as Global Vice President of Operations for Residential and Light Commercial at Carrier Corporation.
FuelCell Energy (Nasdaq: FCEL) appointed Matthew Latino to succeed Michael Bishop as chief financial officer in a planned transition effective October 7, 2026. Latino also becomes executive vice president and treasurer. Bishop will remain as senior advisor through the company’s 2027 Annual Meeting of Stockholders.
FuelCell Energy reaffirmed its target of positive Adjusted EBITDA, adjusted earnings before interest, taxes, depreciation and amortization, in the fourth quarter of fiscal 2027. The target depends on a planned increase in annualized production, conversion of awarded capacity backlog into committed backlog, customer delivery schedules and continued cost reductions. Latino joins from Xylem, where he was finance chief of its approximately $2 billion Measurement & Control Solutions business.
FuelCell Energy (FCEL) reported third fiscal quarter 2026 results for the period ended July 31, 2026, highlighting a major data center power agreement and expanded backlog.
Revenue was $33.0 million, down approximately 29% from $46.7 million. Gross loss widened to $(24.5) million from $(5.1) million, while loss from operations improved to $(46.7) million from $(95.4) million due to the absence of prior-year impairment and restructuring expenses. Net loss was $(45.3) million, with net loss per share of $(0.64) versus $(3.78). Cash and restricted cash totaled $737.3 million.
Committed backlog rose about 4.1% to $1.3 billion and Awarded Capacity Backlog reached $2.35 billion, primarily from a capital equipment purchase agreement with Fit Energy covering up to 380 MW. The company also signed its first 75 MW capacity reservation agreement with a major data center operator in Texas and is expanding its Torrington, CT manufacturing facility toward 500 MW annualized capacity by June 2028, targeting 100 MW annualized production in October 2026 and positive Adjusted EBITDA in the fourth quarter of fiscal 2027.
FuelCell Energy (Nasdaq: FCEL) will release its third quarter 2026 results before the U.S. stock market opens on Wednesday, September 2, 2026. Management will host a conference call at 10:00 a.m. Eastern Time the same day to discuss the results and provide a business update.
Investors can access the live call via a webcast on the company’s website by selecting Investors → Events & Presentations → Webcast under the September 2 earnings call event, or by dialing (888) 330-3181 and providing “FuelCell Energy” or conference ID 1099808. A webcast replay will be available on the Investors page about two hours after the call.
FuelCell Energy (Nasdaq: FCEL) and Siemens signed a memorandum of understanding to collaborate on scalable, fuel cell-based distributed energy systems. Siemens will design and supply electrical balance of plant (EBOP) for fuel cell installations, targeting rapid deployment of 100+ MW commercial projects.
The collaboration covers joint engineering, integration, and delivery of fuel cell solutions with battery storage, microgrid controls, and medium-voltage equipment, focusing initially on data centers. Pilot projects will explore applications such as medium-voltage DC power and modular electrical systems, with a defined path toward full-scale commercial deployments.
FuelCell Energy (NASDAQ: FCEL) priced an upsized underwritten public offering of 10,714,286 common shares at $21.00 per share, for expected gross proceeds of $225 million before expenses. The company granted underwriters a 30-day option for up to 1,607,143 additional shares.
Closing is expected on or about July 9, 2026, subject to customary conditions. FuelCell Energy plans to use net proceeds for manufacturing capacity expansion, working capital and general corporate purposes.
FuelCell Energy (NASDAQ: FCEL) launched an underwritten public offering of $200 million of common stock. All shares are offered by the company, with an expected 30-day option for underwriters to buy up to an additional 15%.
According to FuelCell Energy, net proceeds, if the offering is completed, will fund manufacturing capacity expansion, working capital, and general corporate purposes. Citigroup and Barclays are joint book-running managers. The deal uses an automatically effective shelf registration filed June 8, 2026 and remains subject to market conditions and final terms.