Posco Energy

FuelCell Energy Reports First Quarter of Fiscal 2024 Results

Retrieved on: 
Thursday, March 7, 2024
Toyota, Research, Electrolysis, Investment, Plant, United States Treasury security, Adjustment, Carbon, Appendix, KFC, Joint, EMTEC, ExxonMobil, Posco Energy, Video game

DANBURY, Conn., March 07, 2024 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. (NASDAQ: FCEL) -- a global leader in decarbonizing power and producing hydrogen through our proprietary, state-of-the-art fuel cell platforms to enable a world empowered by clean energy -- today reported financial results for its first quarter ended January 31, 2024.

Key Points: 
  • Note: All comparisons between periods are between the first quarter of fiscal 2024 and the first quarter of fiscal 2023, unless otherwise specified.
  • Operating expenses for the first quarter of fiscal 2024 increased to $30.8 million from $27.7 million in the first quarter of fiscal 2023.
  • Net loss was $(44.4) million in the first quarter of fiscal 2024, compared to net loss of $(21.1) million in the first quarter of fiscal 2023.
  • Adjusted EBITDA totaled $(29.1) million in the first quarter of fiscal 2024, compared to Adjusted EBITDA of $(14.4) million in the first quarter of fiscal 2023.

FuelCell Energy Reports Fourth Quarter and Full Fiscal Year 2023 Results

Retrieved on: 
Tuesday, December 19, 2023
Carbon, Hydrogen, Marketing, Government, SOEC, Treasury, B cell, Food, Repowering, National Nuclear Laboratory, Electrolysis, Transport, North West England, Automation, FuelCell Energy, Economics, Electricity, Capacity, Housatonic River, Artificial intelligence, Trinity College, Adjustment, Foundation models, ExxonMobil, Settlement, Overalls, Plastic, Idaho National Laboratory, IBM, Joint, United States Treasury security, INL, Welding, KFC, Carbon capture, Appendix, EDF Energy, Insurance, Engineering, Electrode, Natural gas, Gasoline, Sale, Research, Heat, Intelligence, Temperature, Water, Southern California Edison, Posco Energy, Longevity, CNL, Investment, CO2, Renewable energy

DANBURY, Conn., Dec. 19, 2023 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. (Nasdaq: FCEL) -- a global leader in decarbonizing power and producing hydrogen through its proprietary, state-of-the-art fuel cell platforms to enable a world empowered by clean energy -- today reported financial results for its fourth quarter and fiscal year ended October 31, 2023.

Key Points: 
  • Operating expenses for the fourth quarter of fiscal 2023 increased to $34.9 million from $27.5 million in the fourth quarter of fiscal 2022.
  • Research and development expenses increased to $18.0 million during the fourth quarter of fiscal 2023 compared to $12.2 million in the fourth quarter of fiscal 2022.
  • Net loss was $29.5 million in fourth quarter of fiscal 2023, compared to net loss of $42.0 million in the fourth quarter of fiscal 2022.
  • Adjusted EBITDA totaled $(30.8) million in the fourth quarter of fiscal 2023, compared to Adjusted EBITDA of $(36.1) million in the fourth quarter of fiscal 2022.

FuelCell Energy Reports First Quarter of Fiscal 2023 Results

Retrieved on: 
Thursday, March 9, 2023
Trinity College, Idaho National Laboratory, Electrolysis, Joint, Long Island Power Authority, Tobacco Master Settlement Agreement, Incoterms, KFC, Posco Energy, EMTEC, Research, Electricity, Water, Government, Automation, Capacity, Carbon, United States Treasury security, Versa, Plant, Port of Long Beach, Housatonic River, Engineering, Settlement, Calendar, Investment, Food, Advanced Technology Vehicles Manufacturing Loan Program, FuelCell Energy, Hydrogen, Appendix, Adjustment, Treasury, CO2, Coal, Video game, Cryptocurrency, Renewable energy

DANBURY, Conn., March 09, 2023 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. (Nasdaq: FCEL) -- a global leader in decarbonizing power and producing hydrogen through its proprietary, state-of-the-art fuel cell platforms to enable a world empowered by clean energy -- today reported financial results for its first quarter ended January 31, 2023.

Key Points: 
  • Compared to the first quarter of fiscal 2022, Advanced Technologies contract revenues recognized under the Joint Development Agreement with EMTEC were approximately $0.1 million higher during the first quarter of fiscal 2023, and revenue recognized under government and other contracts were approximately $0.3 million higher during the first quarter of fiscal 2023.
  • Operating expenses for the first quarter of fiscal 2023 decreased to $27.7 million from $41.9 million in the first quarter of fiscal 2022.
  • Research and development expenses increased to $12.7 million during the first quarter of fiscal 2023 compared to $5.0 million in the first quarter of fiscal 2022.
  • Net loss was $(21.1) million in the first quarter of fiscal 2023, compared to net loss of $(46.1) million in the first quarter of fiscal 2022.

PowerTap Announces T2M as its Engineering and Design Validation Partner

Retrieved on: 
Tuesday, September 13, 2022
Hydrogen, NRG, Cycling power meter, Cybook Gen3, Engineering, MOVE, Sale, Company, News, Private, BASF, Marubeni, Unit, Posco Energy, OTC, NEO, CEO, Technology, Greenbriar Capital Corp, Private placement, ExxonMobil, GLOBE, Air Products & Chemicals, Natural gas, PDU-5B dispenser unit, FuelCell Energy, Mitsubishi, Renewable energy, Security (finance), T2M, Enbridge, Sanyo, Sempra Energy

To capitalize on this demand, PowerTap has engaged T2M Global to fast-track initial station delivery.

Key Points: 
  • To capitalize on this demand, PowerTap has engaged T2M Global to fast-track initial station delivery.
  • The T2M team, led by Mr. Pinakin Patel, has extensive experience in production of green hydrogen for multiple applications in the USA and Canada.
  • "We are delighted by the PowerTap decision to benefit from T2M Global's extensive network in the hydrogen and fuel cell arena," said Pinakin Patel, President and CEO of T2M.
  • ABOUT POWERTAP HYDROGEN CAPITAL CORP.
    PowerTap Hydrogen Capital Corp., through its wholly owned subsidiary, PowerTap Hydrogen Fueling Corp. ("PowerTap"), is focused on installing hydrogen production and dispensing fueling infrastructure in the United States.

FuelCell Energy Reaches Favorable Settlement Agreement with POSCO Energy

Retrieved on: 
Monday, December 27, 2021
Hydrogen, Nasdaq, Technology, University, Posco Energy, B cell, NASDAQ, FuelCell Energy, Urbanization, Wind, Solution, Quality of life, Heat, Hospital, Safety, POSCO, GLOBE, Renewable energy

Agreement confirms FuelCell Energys access to sell products in the Asian market, including South Korea

Key Points: 
  • Agreement confirms FuelCell Energys access to sell products in the Asian market, including South Korea
    DANBURY, Conn., Dec. 27, 2021 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. (Nasdaq: FCEL) -- a global leader in fuel cell technology with a purpose of utilizing its proprietary, state-of-the-art fuel cell platforms to enable a world empowered by clean energy today announced that POSCO Energy Co., Ltd. and its subsidiary, Korea Fuel Cell Co., Ltd., (collectively POSCO) have entered into a settlement agreement (the Agreement) with FuelCell Energy.
  • We are extremely pleased to have reached a favorable agreement with POSCO which confirms our access to the Asian market for FuelCell Energy, said Jason Few, President, Chief Executive Officer and Chief Commercial Officer of FuelCell Energy.This resolution unlocks a path forward and gives customers in South Korea and across Asia the ability to evaluate FuelCell Energys differentiated platforms against alternative offerings without concern and uncertainty surrounding the legal dispute between FuelCell Energy and POSCO.
  • FuelCell Energy, Inc. (NASDAQ: FCEL) FuelCell Energy is a global leader in sustainable clean energy technologies that address some of the worlds most critical challenges around energy, safety and global urbanization.
  • SureSource, SureSource 1500, SureSource 3000, SureSource 4000, SureSource Recovery, SureSource Capture, SureSource Hydrogen, SureSource Storage, SureSource Service, SureSource Treatment, SureSource Capital, FuelCell Energy, and FuelCell Energy logo are all trademarks of FuelCell Energy, Inc.

REPEAT -- PowerTap’s 49% owned AES CEO Pinakin Patel Joins PowerTap Advisory Board

Retrieved on: 
Monday, October 18, 2021
Hydrogen, Leadership, FWB, Air Products & Chemicals, National Renewable Energy Laboratory, BASF, Technology, Ministry of Energy, TM Capital Corp., Industry, State, NEO, University of Hawaiʻi, OTC, Department, Hyundai, Home Energy Station, Department of Defense master clock, GLOBE, Marubeni, ExxonMobil, Mitsubishi, GM, University, Cycling power meter, AES, CEO, NRG, Partnership, CA, Posco Energy, The Co Founder, Renewable energy, Natural gas

VANCOUVER, British Columbia, Oct. 18, 2021 (GLOBE NEWSWIRE) -- PowerTap Hydrogen Capital Corp (NEO: MOVE) (FWB: 2K6) (OTC: MOTNF) (PowerTap or the Company) is pleased to announce that Mr. Pinakin Patel, CEO of the Companys 49 percent owned Advanced Electrolyzer Systems (AES), has been appointed to the PowerTap Advisory Board.

Key Points: 
  • VANCOUVER, British Columbia, Oct. 18, 2021 (GLOBE NEWSWIRE) -- PowerTap Hydrogen Capital Corp (NEO: MOVE) (FWB: 2K6) (OTC: MOTNF) (PowerTap or the Company) is pleased to announce that Mr. Pinakin Patel, CEO of the Companys 49 percent owned Advanced Electrolyzer Systems (AES), has been appointed to the PowerTap Advisory Board.
  • T2M Global will provide the foundation for the commercialization of hydrogen technologies by PowerTap and AES.
  • The multi-national corporations involved included BASF, Sempra, Siemens-Westinghouse, Fluor Engineers, ExxonMobil, NRG, Enbridge, Mitsubishi, Sanyo, Marubeni, POSCO Energy, Daimler-MTU, and Haldor Topsoe.
  • We are ecstatic to have Pinakin on our Advisory Board with his extensive experience and leadership in the hydrogen industry to head up the effort to commercialize AES and other related hydrogen technologies, said Raghu Kilambi, CEO of PowerTap Hydrogen Capital Corp.
    ABOUT POWERTAP HYDROGEN CAPITAL CORP.
    PowerTap Hydrogen Capital Corp., through its wholly owned subsidiary, PowerTap Hydrogen Fueling Corp. (PowerTap), is focused on installing hydrogen production and dispensing fueling infrastructure in the United States.

PowerTap’s 49% owned AES CEO Pinakin Patel Joins PowerTap Advisory Board

Retrieved on: 
Monday, October 18, 2021
Hydrogen, Leadership, FWB, Air Products & Chemicals, National Renewable Energy Laboratory, BASF, Technology, Ministry of Energy, TM Capital Corp., Industry, State, NEO, University of Hawaiʻi, OTC, Department, Hyundai, Home Energy Station, Department of Defense master clock, GLOBE, Marubeni, ExxonMobil, Mitsubishi, GM, University, Cycling power meter, AES, CEO, NRG, Partnership, CA, Posco Energy, The Co Founder, Renewable energy, Natural gas

VANCOUVER, British Columbia, Oct. 18, 2021 (GLOBE NEWSWIRE) -- PowerTap Hydrogen Capital Corp (NEO: MOVE) (FWB: 2K6) (OTC: MOTNF) (PowerTap or the Company) is pleased to announce that Mr. Pinakin Patel, CEO of the Companys 49 percent owned Advanced Electrolyzer Systems (AES), has been appointed to the PowerTap Advisory Board.

Key Points: 
  • VANCOUVER, British Columbia, Oct. 18, 2021 (GLOBE NEWSWIRE) -- PowerTap Hydrogen Capital Corp (NEO: MOVE) (FWB: 2K6) (OTC: MOTNF) (PowerTap or the Company) is pleased to announce that Mr. Pinakin Patel, CEO of the Companys 49 percent owned Advanced Electrolyzer Systems (AES), has been appointed to the PowerTap Advisory Board.
  • T2M Global will provide the foundation for the commercialization of hydrogen technologies by PowerTap and AES.
  • Mr. Patel is an excellent addition to the PowerTap Advisory Board given his significant depth in the industry encompassing over 40 years of experience in the hydrogen and fuel cell industry with a $600+ million R&D/advanced technology portfolio with over 30 patents and more than 200 invited presentations and papers.
  • We are ecstatic to have Pinakin on our Advisory Board with his extensive experience and leadership in the hydrogen industry to head up the effort to commercialize AES and other related hydrogen technologies, said Raghu Kilambi, CEO of PowerTap Hydrogen Capital Corp.
    ABOUT POWERTAP HYDROGEN CAPITAL CORP.
    PowerTap Hydrogen Capital Corp., through its wholly owned subsidiary, PowerTap Hydrogen Fueling Corp. (PowerTap), is focused on installing hydrogen production and dispensing fueling infrastructure in the United States.

FuelCell Energy Closes Tax Equity Financing with East West Bank for the 7.4 MW U.S. Navy Submarine Base Fuel Cell Project

Retrieved on: 
Monday, August 9, 2021
Hydrogen, B cell, Compliance, FuelCell Energy, Small business, Contract, United States Department of Defense, Risk, Solution, Nasdaq, Forward-looking statement, Safety, Department, Economy, Exercise, Paycheck Protection Program, Coronavirus, Electric Bond and Share Company v. Securities and Exchange Commission, Hospital, Carbon, Longevity, Private Securities Litigation Reform Act, University, Government, NASDAQ, People's Liberation Army Navy Submarine Force, Urbanization, Security (finance), Posco Energy, U.S. Navy Diving Manual, Senior, Pandemic, Wind, Industry, News, Company, Policy, Navy, GLOBE, Quality of life, Plant, Renewable energy

East West Bank is delighted to partner with FuelCell Energy on the fuel cell project located on the U.S. Navy Submarine Base in Connecticut, said Christopher Simeone, Senior Vice President with East West Bank.

Key Points: 
  • East West Bank is delighted to partner with FuelCell Energy on the fuel cell project located on the U.S. Navy Submarine Base in Connecticut, said Christopher Simeone, Senior Vice President with East West Bank.
  • As a leader in financing clean and alternative energies, we look forward to seeing the U.S. Navy and the Groton community benefit from this important project.
  • FuelCell Energy installed 7.4 MW of SureSource power platforms at the U.S. Navy Submarine Base in Groton, CT to provide a long-term supply of power to an existing electrical substation.
  • The highly efficient fuel cell power generation project minimizes carbon output while providing continuous power to the strategic military base.

FuelCell Energy Receives Court Case Win in the Court of Chancery in Delaware Versus Posco Energy

Retrieved on: 
Monday, July 12, 2021
Articles, Energy, Energy economics, Companies, FuelCell Energy, Emissions reduction, Energy industry, Sustainable energy, POSCO, Posco Energy

On July 9, 2021, the Court issued a post-trial ruling denying POSCO Energys summary statutory demand to inspect the Companys books and records because POSCO Energy lacks a proper purpose.

Key Points: 
  • On July 9, 2021, the Court issued a post-trial ruling denying POSCO Energys summary statutory demand to inspect the Companys books and records because POSCO Energy lacks a proper purpose.
  • FuelCell Energy looks forward to continuing its work in enabling the regions energy transformation to a cleaner future.
  • FuelCell Energy, Inc. (NASDAQ: FCEL): FuelCell Energy is a global leader in sustainable clean energy technologies that address some of the worlds most critical challenges around energy, safety and global urbanization.
  • SureSource, SureSource 1500, SureSource 3000, SureSource 4000, SureSource Recovery, SureSource Capture, SureSource Hydrogen, SureSource Storage, SureSource Service, SureSource Treatment, SureSource Capital, FuelCell Energy, and FuelCell Energy logo are all trademarks of FuelCell Energy, Inc.

FuelCell Energy Receives Court Case Win in the Court of Chancery in Delaware Versus Posco Energy

Retrieved on: 
Monday, July 12, 2021
Articles, Energy, Energy economics, Companies, FuelCell Energy, Emissions reduction, Energy industry, Sustainable energy, POSCO, Posco Energy

On July 9, 2021, the Court issued a post-trial ruling denying POSCO Energys summary statutory demand to inspect the Companys books and records because POSCO Energy lacks a proper purpose.

Key Points: 
  • On July 9, 2021, the Court issued a post-trial ruling denying POSCO Energys summary statutory demand to inspect the Companys books and records because POSCO Energy lacks a proper purpose.
  • FuelCell Energy looks forward to continuing its work in enabling the regions energy transformation to a cleaner future.
  • FuelCell Energy, Inc. (NASDAQ: FCEL): FuelCell Energy is a global leader in sustainable clean energy technologies that address some of the worlds most critical challenges around energy, safety and global urbanization.
  • SureSource, SureSource 1500, SureSource 3000, SureSource 4000, SureSource Recovery, SureSource Capture, SureSource Hydrogen, SureSource Storage, SureSource Service, SureSource Treatment, SureSource Capital, FuelCell Energy, and FuelCell Energy logo are all trademarks of FuelCell Energy, Inc.