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MarketScreener Homepage  >  Equities  >  Nasdaq  >  FuelCell Energy Inc    FCEL

FUELCELL ENERGY INC (FCEL)
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FuelCell Energy Awarded Project for Ultra High Efficiency Solid Oxide Systems

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03/13/2018 | 06:33pm CEST
  • FuelCell Energy is commercializing Solid Oxide technology for power generation, electrolysis and long duration energy storage applications
  • Project will advance Solid Oxide stack efficiency in power, electrolysis, and energy storage applications

DANBURY, Conn., March 13, 2018 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc.  (Nasdaq:FCEL), a global leader in delivering clean, innovative and affordable fuel cell solutions for the supply, recovery and storage of energy, today announced that it was awarded $3.1 million from the Advanced Research Projects Agency-Energy (ARPA-E) division of the U.S. Department of Energy (DOE) for its project proposal to advance the commercialization of ultra-high efficiency Solid Oxide Fuel Cell (SOFC) systems.

The award is part of ARPA-E’s “Innovative Natural-gas Technologies for Efficiency Gain in Reliable and Affordable Thermochemical Electricity-generation” (INTEGRATE) program. The INTEGRATE program has the objective of developing natural gas fueled distributed generation systems with ultra-high efficiency (>70%). The project will further develop FuelCell Energy’s advanced solid oxide cell technology, specifically focused on advanced stack designs capable at operating at elevated pressure. High pressure operation allows the configuration of very high efficiency power generation systems, and also enhances the efficiency of solid oxide based electrolysis and energy storage systems.

“FuelCell Energy is commercializing solid oxide systems for power generation, energy storage, and electrolysis, and this project will further advance the high efficiency operation of SOFC in all of these applications,” said Tony Leo, Vice President of Advanced Applications & Technology Development for FuelCell Energy. “The performance enhancements enabled by the project will allow higher efficiency utilization of domestic fuels, as well as high efficiency electrolysis and energy storage for integration of intermittent renewable power sources in the grid.”

Fuel cells use chemistry to convert a fuel source into electricity and heat in a highly efficient process that emits virtually no pollutants as the fuel is not burned. The combination of near-zero pollutants, modest land-use needs, and quiet operating nature of these stationary fuel cell power plants facilitates installation in urban locations where the power is used. Customers benefit with operating cost reductions delivered in a manner that supports sustainability goals and enhances power reliability. 

About FuelCell Energy
FuelCell Energy, Inc. (NASDAQ:FCEL) delivers efficient, affordable and clean solutions for the supply, recovery and storage of energy.  We design, manufacture, undertake project development of, install, operate and maintain megawatt-scale fuel cell systems, serving utilities and industrial and large municipal power users with solutions that include both utility-scale and on-site power generation, carbon capture, local hydrogen production for transportation and industry, and long duration energy storage.  With SureSource™ installations on three continents and millions of megawatt hours of ultra-clean power produced, FuelCell Energy is a global leader in designing, manufacturing, installing, operating and maintaining environmentally responsible fuel cell power solutions.  Visit us online at www.fuelcellenergy.com and follow us on Twitter @FuelCell_Energy.

SureSource, SureSource 1500, SureSource 3000, SureSource 4000, SureSource Recovery, SureSource Capture, SureSource Hydrogen, SureSource Storage, SureSource Service, SureSource Capital, FuelCell Energy, and FuelCell Energy logo are all trademarks of FuelCell Energy, Inc.

Contact:
FuelCell Energy
203.205.2491
ir@fce.com

Source: FuelCell Energy

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© GlobeNewswire 2018
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Financials ($)
Sales 2018 89,8 M
EBIT 2018 -44,3 M
Net income 2018 -59,5 M
Debt 2018 -
Yield 2018 -
P/E ratio 2018 -
P/E ratio 2019
Capi. / Sales 2018 1,12x
Capi. / Sales 2019 0,72x
Capitalization 101 M
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Number of Analysts 5
Average target price 3,02 $
Spread / Average Target 180%
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Arthur A. Bottone President, Chief Executive Officer & Director
John A. Rolls Chairman
Anthony F. Rauseo Chief Operating Officer & Senior Vice President
Michael S. Bishop CFO, Secretary, Treasurer & Senior VP
James Herbert England Independent Director
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