Welcome to our dedicated page for Fuelcell Energy news (Ticker: FCEL), a resource for investors and traders seeking the latest updates and insights on Fuelcell Energy stock.
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 (Nasdaq: FCEL) has denied misleading claims made by a short seller regarding the LIPA 2 and LIPA 3 power project awards. The Company clarified that these awards were never part of its backlog and do not affect its 2022 financial goals, including revenue and adjusted EBITDA. FuelCell Energy is actively disputing claims that the New York Climate Leadership and Community Protection Act should hinder the LIPA projects, which it is pursuing in good faith. The Company emphasizes that its LIPA Yaphank project is included in the backlog and revenue projections.
FuelCell Energy, Inc. (Nasdaq: FCEL) has completed its public offering of 50,025,000 common shares, raising approximately $105 million in gross proceeds. The offering included the full exercise of underwriters' option for an additional 6,525,000 shares. J.P. Morgan, Barclays, and Canaccord Genuity led the offering, which was registered under SEC Form S-3. The proceeds are intended to advance FuelCell's innovative fuel cell technology and strengthen its market position in distributed power generation.
FuelCell Energy, Inc. (NASDAQ: FCEL) announced a public offering of 43,500,000 shares at $2.10 per share, raising approximately $91.35 million. The offering is set to close on October 2, 2020, pending customary conditions. The funds will be allocated for project development, financing, working capital, and debt repayment, including preferred stock dividends. The company has granted underwriters a 30-day option for an additional 6,525,000 shares. Leading financial firms J.P. Morgan, Barclays, and Canaccord are managing the offering.
FuelCell Energy (NASDAQ: FCEL) announced a public offering of 43,500,000 shares priced at $2.10 each, aiming for gross proceeds of approximately $91.35 million. The offering is set to close around October 2, 2020. Proceeds will be utilized for project development, financing, working capital, and potentially redeeming preferred stock and repaying debts. The company has granted underwriters a 30-day option for an additional 6,525,000 shares. J.P. Morgan, Barclays, and Canaccord Genuity are co-managers of the offering.
FuelCell Energy (Nasdaq: FCEL) announced a public offering of 31 million shares of its common stock, with an option for underwriters to purchase an additional 4.65 million shares. The proceeds will be used for project development, financing, general corporate purposes, and to redeem preferred stock and repay outstanding debt. J.P. Morgan, Barclays, and Canaccord Genuity are managing the offering. The registration statement has been filed with the SEC. FuelCell Energy focuses on environmentally responsible power solutions through its proprietary fuel cell technology.
FuelCell Energy (NASDAQ: FCEL) announced a public offering of 31,000,000 shares of common stock with a potential additional 4,650,000 shares for underwriters. Proceeds from this offering are designated for project development, financing, working capital, and reducing debt. The registration statement has been filed with the SEC and is effective. J.P. Morgan, Barclays, and Canaccord Genuity are managing the offering. This initiative reflects the company's ongoing commitment to expand its environmentally responsible power solutions.
FuelCell Energy (NASDAQ: FCEL) has been awarded four projects totaling 11.2 megawatts by Connecticut's electric distribution companies as part of the Shared Clean Energy Facility Program. Each project will generate 2.8 megawatts of clean energy, sufficient to power 3,000 homes. The projects, located in New Britain, East Hartford, Derby, and Danbury, will enhance Connecticut’s clean energy goals and grid resiliency. FuelCell Energy aims to finalize power purchase agreements and site approvals to commence these projects, which promise environmental benefits and continuous, reliable energy.
FuelCell Energy, Inc. (Nasdaq: FCEL) announced the award of four projects totaling 11.2 megawatts by Connecticut local distribution companies under the Shared Clean Energy Facility program. Each of the four power plants will provide 2.8 megawatts of clean energy, enough to power approximately 12,000 homes. The projects are located in New Britain, East Hartford, Derby, and Danbury, supporting Connecticut's clean energy goals. The company aims to enhance grid resiliency and deliver pricing benefits to electric customers under 20-year agreements.
FuelCell Energy (NASDAQ: FCEL) has been awarded $3.0 million by the U.S. Department of Energy to enhance the development of its Reversible Solid Oxide Fuel Cell Systems. This funding will focus on improving performance and advancing commercialization efforts. The project aims to efficiently convert excess power into hydrogen for long-term storage, contributing to clean energy solutions. CEO Jason Few emphasized the urgent need for cost-effective long-duration energy storage in light of increasing intermittent energy sources on the grid.
FuelCell Energy (FCEL) reported a net loss of $(15.3) million for Q3 FY2020, up from $(5.3) million a year prior. Revenues decreased by 18% to $18.7 million, driven by a 38% decline in Service and License revenues. Operating expenses fell 16% to $7.6 million. The company's backlog decreased by 3.9% to $1.33 billion. Despite these challenges, FCEL raised $70.1 million through share offerings to bolster liquidity and growth potential.