MARKET COMPOSITE
FCEL - Fuelcell Energy Inc8:00:00 PM 5/17/2024
Price
$0.80
-0.03 (-3.28%)
FuelCell Energy, Inc. is a fuel cell power company. It designs, manufactures, operates and services Direct Fuel Cell power plants that run on natural gas and biogas. As the biggest publicly traded fuel cell manufacturer in the U.S., the company operates over 50 plants all over the world. It operates the world’s largest fuel cell park, Gyeonggi Green Energy Fuel cell park, which is located in South Korea. The park consists of 21 power plants providing 59 Megawatt of electricity plus district heating to a number of customers in South Korea. It also operates the largest fuel cell park in North America consisting of five 2.8MW power plants and a rankine cycle turbine bottoming cycle in Bridgeport, Connecticut. The company has two markets including ultra-clean power, based on natural gas, and renewable power operating on renewable biogas. Its customer base covers commercial and industrial enterprises including utility companies, municipalities, universities, etc. In 1969, the company was founded as Energy Research Corporation by early fuel cell pioneers Bernard Baker and Martin Klein, who are both chemical engineers with professional knowledge in advanced battery technologies. From the 1970s to 1990s, with sponsorship from U.S. military and other utility companies, the company extended to low-temperature fuel cell area and high-temperature carbonate fuel systems, which proved to have greater potential in commercial applications. It completed its IPO in 1992 and was renamed as FuelCell Energy, Inc. It spun off its battery division, Evercel in 1999. FuelCell Energy began expanding globally in 2007 through its partnership with POSCO Energy, targeting markets in Southeast Asia, particularly South Korea.
Financials
Quarterly financials
(USD)Jan 2024Q/Q
Revenue16.7MM-26%
Gross Profit-11.7MM-
Cost Of Revenue28.4MM+19%
Operating Income-42.5MM+17%
Operating Expenses30.8MM-12%
Net Income-19.8MM-35%
R&D14.4MM-20%
G&A16.4MM-3%
Interest Expense2.3MM+1%
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    FuelCell Energy’s Tri-gen technology produces three products: renewable electricity, renewable hydrogen, and usable waterMarks Toyota’s first port vehicle processing facility in the world to be powered by onsite-generated, 100 percent renewable electricityBoth light-duty and Class 8 heavy-duty fuel cell electric vehicles have been fueled using Tri-gen generated renewable hydrogen LONG BEACH, Calif., May 02, 2024 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. (Nasdaq: FCEL) and Toyota Motor North Amer

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    Investors were cheered by the company's signing of several new debt financing deals.

    Automotive and aerospace industry executive with deep expertise inadvanced manufacturing systems, scaling manufacturing, and technology DANBURY, Conn., April 29, 2024 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. (Nasdaq: FCEL), FuelCell Energy, Inc., announced that Tyrone Michael (“TJ”) Jordan has joined its board of directors. Jordan’s extensive experience in operations, advanced manufacturing, commercialization, and global leadership will be a significant asset to the company’s board at a key tim

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    Continuing Strong Support for FuelCell Energy Platforms Total of $13 Million in Senior and Subordinated Credit Facilities DANBURY, Conn., April 29, 2024 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc., (Nasdaq: FCEL) today announced that the Company closed on a project debt financing transaction with Liberty Bank and Connecticut Green Bank for the company’s two fuel cell projects in Derby, Conn., which recently began operations. The financing is structured as back leverage to a project finance subsidi