FuelCell Energy Inc.

Company Overview

FuelCell Energy Inc. is a clean energy company that designs, manufactures, undertakes project development, installs, operates, and maintains megawatt-scale fuel cell systems. It serves utilities, industrial, and large municipal power users with solutions that include utility-scale and on-site power generation, carbon capture, local hydrogen production for commercial industries, and long-duration energy storage. It can refurbish and reuse fuel cell parts and recycle more than 90% of the material that cannot be reused.

FuelCell Energy offers products and services across multiple industries, catering to a range of applications, including power, industrial, building, and wastewater treatment. It offers services across three continents, namely Asia, Europe, and North America. It holds 163 U.S. patents and 368 patents in other jurisdictions, covering fuel cell technology. As of April 2024, the company had 43 pending U.S. patents and 124 pending patent applications in various jurisdictions.

Financial Highlights (FY 2025)

Company's Business Segments

• Product : Includes the sale of Completed Project Assets, Sale, Installation of Fuel Cell Power Platforms including Site Engineering, Construction Services, the sale of Modules, BOP Components, Spare Parts to customers.
• Service : Includes performance under long-term service agreements for Power Platforms owned by third parties.
• Generation : Includes the sale of Electricity under PPAs, Utility Tariffs from Project Assets retained by the Company. This also includes revenue received from the sale of other value streams from these assets including the sale of Heat, Steam, Capacity, Renewable Energy Credits.
• Advanced Technologies : Includes revenue from Customer-sponsored, Government-sponsored Advanced Technologies projects.