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 (NASDAQ: FCEL) specializes in clean energy innovation through advanced fuel cell and hydrogen production technologies. This page provides a centralized hub for all official company announcements, financial updates, and strategic developments.
Investors and stakeholders will find timely, verified information on FCEL’s progress in decarbonization, distributed power solutions, and electrolysis platforms. Key updates include earnings reports, partnership announcements, technology milestones, and regulatory filings.
The curated news collection covers press releases, financial results, project deployments, and industry collaborations. Each update is sourced directly from the company or reputable financial publications to ensure accuracy and relevance.
Bookmark this page for streamlined access to FCEL’s latest clean energy initiatives and operational developments. Check back regularly to stay informed on the company’s role in advancing sustainable power generation and hydrogen infrastructure.
FuelCell Energy (NASDAQ: FCEL) reported its fiscal 2024 Q2 results with revenue of $22.4 million, a 42% decrease year-over-year.
Gross loss widened to $7.1 million, and net loss was $37.7 million, up from $33.9 million a year ago.
The net loss per share improved to $0.07 from $0.09, partly due to higher outstanding shares.
R&D expenses increased to $16.6 million, and total operating expenses rose to $34.3 million.
The company announced a new $160 million contract with Gyeonggi Green Energy for upgraded fuel cell modules, contributing to a 3.8% increase in backlog to $1.06 billion.
Cash and equivalents totaled $313.2 million, down from $403.3 million in October 2023.
Debt financing and new share issuances raised additional capital.
FuelCell Energy and Gyeonggi Green Energy have announced a significant agreement involving the purchase of 42 upgraded carbonate fuel cell modules and a seven-year service contract. This deal, aimed at powering the Hwaseong Baran Industrial Complex, the world's largest fuel cell power platform, is expected to generate $160 million in revenue for FuelCell Energy. The platform can produce 58.8 megawatts of electricity and provide hot water for heating. This initiative supports South Korea's Hydrogen Economy Roadmap, aiming to supply 15 gigawatts from fuel cells by 2040. FuelCell Energy's commitment to innovation and clean energy aligns with South Korea's goals, and the company is furthering its market presence through various technology platforms and long-term service agreements.
FuelCell Energy (NASDAQ: FCEL) will announce its Q2 fiscal 2024 results on June 10, 2024, before the market opens. A subsequent conference call is scheduled for the same day at 10:00 a.m. Eastern Time to discuss the results and provide a business update. Interested parties can join the call via webcast on the company’s website or by dialing (888) 330-3181 with conference ID 1099808. A replay will be available on the company’s Investors’ page approximately two hours post-call.
FuelCell Energy and Toyota Motor North America have launched the world's first 'Tri-gen' system at the Port of Long Beach, providing renewable electricity, hydrogen, and water for Toyota's vehicle processing facility. This innovative technology supports Toyota's goal of reducing carbon emissions and demonstrates the benefits of hydrogen-based energy for zero-emission transportation.
FuelCell Energy, Inc. appointed Tyrone Michael Jordan to its board of directors, bringing extensive experience in operations, advanced manufacturing, and global leadership. With a background in automotive and aerospace industries, Jordan's expertise will support the company's growth efforts.
FuelCell Energy, Inc. secured $13 million in senior and subordinated credit facilities from Liberty Bank and Connecticut Green Bank for two fuel cell projects in Derby, Conn. The funds will support the projects' operations, with Liberty Bank contributing $6.5 million and Connecticut Green Bank $3.0 million in senior commitments, as well as an additional subordinated credit facility of $3.5 million.
The financing, representing back leverage to a project finance subsidiary, closed on April 25, 2024, with the senior facility having a seven-year term at a fixed interest rate of 7.25%, and the subordinated facility at 14 years with an 8% interest rate. After transaction fees and debt service reserves, FuelCell Energy received approximately $11.6 million in net funding, enabling the company to pursue growth initiatives globally.
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