fuelcell energy inc (FCEL) Key Developments
FuelCell Energy, Inc. with O&G Industries and CT Energy & Technology LLC Propose 63.3 Megawatt Fuel Cell Park in Beacon Falls
May 5 15
FuelCell Energy, Inc. with O&G Industries and CT Energy & Technology LLC proposed 63.3 megawatt fuel cell park in Beacon Falls, Connecticut. The project, known as the Beacon Falls Energy Park. The project was recently presented to Beacon Falls officials during a special meeting by O&G Industries and CT Energy & Technology. Under a letter of intent, FuelCell Energy has been identified as the fuel cell supplier, and if the park becomes operational, is expected to be retained to operate and maintain the plants under a long term service agreement. O&G Industries owns the property. CT Energy & Technology is developing and will own the project. The electric grid interconnection study is in process with ISO New England and site engineering is in advanced stages. Next steps are to finalize the off-taker of the power and prepare contracts.
FuelCell Energy Inc. Approves Amendments to the Articles of Incorporation
Apr 8 15
FuelCell Energy Inc. announced that the annual general meeting held on April 2, 2015, approved the amendments to the Articles of Incorporation to increase the authorized common stock from 400,000,000 shares to 475,000,000.
FuelCell Energy Inc. Announces Execution of a Definitive Term Sheet with Existing Customer Pepperidge Farm, Incorporated to Install a 1.4 Megawatt Direct FuelCell®
Apr 1 15
FuelCell Energy Inc. announced the execution of a definitive term sheet with existing customer Pepperidge Farm, Incorporated to install a 1.4 megawatt Direct FuelCell® (DFC®) power plant at its bakery in Bloomfield, Connecticut. FuelCell Energy will manufacture, install and service the power plant with work on the project commencing immediately. Pepperidge Farm will pay for power as it is produced under a power purchase agreement (PPA). This new power plant will supplement the existing DFC power plant that was installed at the bakery in 2008 and has been generating savings for Pepperidge Farm and carbon reductions ever since. The agreement also includes the multi-year extension of the service contract for the existing DFC power plant. FuelCell Energy is developing this project and expects to close on permanent financing on or before the commercial operation date of the power plant, with commissioning expected by the end of 2015.
FuelCell Energy Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended January 31, 2015
Mar 10 15
FuelCell Energy Inc. announced unaudited consolidated earnings results for the first quarter ended January 31, 2015. For the period, the company reported total revenue of $41,670,000, loss from operations of $5,130,000, loss before provision for income taxes of $4,114,000 and net loss attributable to company of $4,866,000 or $0.02 per diluted share compared to total revenue of $44,434,000, loss from operations of $7,570,000, loss before provision for income taxes of $10,705,000, net loss attributable to company of $10,604,000 and net loss to common shareholders of $11,404,000 or $0.06 per diluted share a year ago. On Non-GAAP basis, loss before provision for income taxes was $4,114,000 and net loss was $4,154,000 against loss before provision for income taxes of $8,262,000 and net loss of $8,372,000 a year ago. Net loss attributable to common shareholders was $4,866,000 or $0.02 per basic and diluted share against $8,961,000 or $0.04 per basic and diluted share a year ago. EBITDA was $4,079,000 against $6,291,000 a year ago.
FuelCell Energy Inc. to Report Q1, 2015 Results on Mar 10, 2015
Feb 25 15
FuelCell Energy Inc. announced that they will report Q1, 2015 results at 5:00 PM, Eastern Standard Time on Mar 10, 2015