Fuelcell Energy Stock Price, News & Analysis

FuelCell Energy (Nasdaq: FCEL) hosted a virtual investor day on March 16, 2022, at 10:00 a.m. ET. The event focused on the company's long-term growth strategies, business performance, financial outlook, and capital allocation. Key executives, including President Jason Few and CFO Michael Bishop, presented insights and engaged in two Q&A sessions, concluding around 12:15 p.m. ET. Investors can access the presentations and an archived replay on the FuelCell Energy Investor Relations website.

FuelCell Energy reported a revenue increase of 114% year-over-year, totaling $31.8 million in Q1 FY2022, driven by product revenue from module sales to Korea Fuel Cell Co. The gross loss improved to ($2.9 million) from ($3.6 million), while net loss remained relatively stable at ($46.1 million). Non-recurring legal expenses of $24 million impacted operating results. The company maintained a backlog of $1.31 billion and aims for production capacity of 45-50 MW in FY2022.

The upcoming first quarter fiscal year 2022 results for FuelCell Energy (NASDAQ: FCEL) will be released on March 10, 2022, before the stock market opens. Following the results, management will host a conference call at 10:00 AM ET to discuss the performance. Participants can access the call through a live webcast on the company's website or via telephone. FuelCell Energy focuses on sustainable clean energy technologies, particularly in fuel cell technology, targeting large-scale power users globally.

FuelCell Energy (Nasdaq: FCEL) has been awarded $6.8 million for a carbon capture demonstration project as part of Canada’s Clean Resource Innovation Network (CRIN). The project aims to utilize the company’s proprietary carbonate fuel cell technology, which captures carbon dioxide while generating clean electric power. This unique approach provides an economical solution to carbon capture, reducing operational costs through power generation. The project involves collaboration with major industry players like Canadian Natural Resources and Suncor Energy, highlighting FuelCell Energy's role in advancing decarbonization in the oil and gas sector.

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.