MARKET COMPOSITE
FCEL - Fuelcell Energy Inc8:00:00 PM 7/26/2024
Price
$0.53
-0.01 (-1.44%)
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)Apr 2024Q/Q
Revenue22.4MM+34%
Gross Profit-7.1MM-
Cost Of Revenue29.5MM+4%
Operating Income-41.4MM-3%
Operating Expenses34.3MM+11%
Net Income-32.1MM+62%
R&D16.6MM+16%
G&A17.7MM+8%
Interest Expense2.3MM-3%
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    Executives gather with Industry Leaders to Discuss Energy Transition, Enabling Technologies, and Introduce New Market GMDANBURY, Conn., July 11, 2024 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc., (Nasdaq: FCEL) held a pivotal event in Seoul on June 28, 2024, reinforcing and demonstrating the company's commitment to the Korean market and highlighting how its two differentiated carbonate and solid oxide platforms enable the energy transition to sustainable energy in a smart and practical way. The eve

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    STORRS, Conn. and DANBURY, Conn., June 25, 2024 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. (Nasdaq: FCEL) and the University of Connecticut (UConn) have announced that UConn will use FuelCell Energy’s solid oxide fuel cell technology for its Innovation Partnership Building (IPB) at the UConn Tech Park on its Storrs Campus. Four of FuelCell Energy’s 250-kilowatt solid oxide fuel cells, with a combined one megawatt of electricity generation capability, will provide power and thermal energy to suppo

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