Fuelcell Energy Stock Price, News & Analysis

FuelCell Energy (NASDAQ: FCEL) has announced its second-quarter results are set to be released prior to the Stock Market Open on June 10, 2021. Management will host a conference call at 10:00 a.m. Eastern Time to discuss the results. Investors can access the live call via webcast on the company’s website or by telephone. FuelCell Energy specializes in clean energy technologies, offering sustainable solutions for various sectors, including utilities and municipalities.

FuelCell Energy, Inc. (NASDAQ: FCEL) announced the appointment of Cynthia Hansen as a new independent director, effective May 25, 2021. Hansen brings over 20 years of experience in the energy sector, currently serving as Executive Vice President at Enbridge, focusing on gas distribution and storage. Her expertise includes hydrogen technology and energy transition strategies. This addition expands the board to six directors, enhancing strategic insights for FuelCell Energy as it aims to lead in clean energy solutions.

FuelCell Energy, Inc. (FCEL) has received an $8 million Phase 2 funding award from the U.S. Department of Energy to advance its solid oxide fuel cell (SOFC) technology aimed at ultra-high efficiency power generation. This funding supports the ARPA-E project, targeting electrical efficiency over 70%. The ongoing development also enhances the company's electrolysis capabilities for hydrogen production, advancing its long-duration energy storage solutions. The SOFC systems are scalable and integral to the company's clean energy transition strategies.

FuelCell Energy reported a revenue decline of 9% to $14.9 million for Q1 Fiscal 2021, down from $16.3 million. The company incurred a gross loss of $3.6 million, compared to a gross profit of $3.3 million a year prior. Its backlog decreased by $93.8 million to $1.27 billion. The net loss increased to $46 million from $40.2 million year-over-year, with net loss per share at $0.15. The company commenced testing a solid oxide electrolysis hydrogen platform and secured a 20-year power purchase agreement for a 2.8 MW project in Derby, CT, expected to generate $59.4 million in future revenue.

FuelCell Energy (Nasdaq: FCEL) has joined Hydrogen Europe, a leading association for the hydrogen and fuel cell industry. This partnership aims to accelerate the hydrogen economy, leveraging FuelCell Energy's 50 years of expertise in fuel cell technology. CEO Jason Few emphasized the company's commitment to becoming a key player in distributed hydrogen production, backed by two decades of investment in hydrogen tech. The company operates a manufacturing and service center in Germany, catering to the European market.

FuelCell Energy (NASDAQ: FCEL) is set to release its first quarter results for fiscal 2021 on March 16, 2021, before the stock market opens. Following the announcement, management will host a conference call for investors at 10:00 a.m. ET to discuss these results. Investors can access the live call via webcast on the company’s website or by telephone. The company, a leader in fuel cell technology, aims to provide clean energy solutions to various sectors, including utilities and government entities, highlighting its commitment to sustainability.

FuelCell Energy (FCEL) reported a 54% increase in fourth-quarter revenues, reaching $17.0 million, compared to $11.0 million the previous year. For the fiscal year 2020, total revenues increased 17% to $70.9 million. The company achieved a significant reduction in loss from operations, reporting $(17.1) million compared to $(33.0) million in the previous year. However, the net loss for FY 2020 widened to $(89.1) million vs. $(77.6) million in FY 2019. Despite a 2.5% decrease in backlog to $1.29 billion, FuelCell remains focused on clean energy innovations and operational improvements.

FuelCell Energy (NASDAQ: FCEL) announced it will release its fourth quarter financial results before the market opens on January 21, 2021. The management team will host a conference call at 10:00 a.m. ET on the same day to discuss the results. Investors can access the call via webcast or by dialing in. FuelCell Energy is focused on innovative fuel cell technologies aimed at clean energy solutions, serving a diverse customer base globally, including utilities and municipalities.

FuelCell Energy (NASDAQ: FCEL) has raised concerns over the Connecticut regulators' decision to rescind awards for three fuel cell projects under the Shared Clean Energy Facility program, threatening local job growth and manufacturing. CEO Jason Few criticized DEEP/PURA for lacking integrity in their process and emphasized the potential reevaluation of in-state growth and hiring plans. The company urges state leaders to act swiftly to reverse this decision, which undermines Connecticut's economic goals, especially in a critical time for the state.