FuelCell Energy Stock Analysis: Hydrogen Fuel Cell Manufacturer on Course for Recovery?

FuelCell Energy Stock Analysis: Hydrogen Fuel Cell Manufacturer on Course for Recovery?

FuelCell Energy is based in Danbury, Connecticut and can look back on a very long history. The company has been active since 1969 and originally called itself “Energy Research Corporation”. It was founded by two early fuel cell pioneers, Bernard Baker and Martin Klein, who were both chemical engineers.

From the 1970s, the company continued to expand with the support of the US military and other utility companies and was able to make a name for itself in the field of fuel cells even beyond US borders. In particular, the low-temperature fuel cells and high-temperature carbonate fuel systems were developed and made ready for the market.

The company has been known on the stock market since it went public in 1992 and changed its name to “FuelCell Energy Inc.”. Even if some areas were spun off, such as the battery division Evercel in 1999, the growth could be pushed forward steadily. From 2007 the global expansion began through a partnership with POSCO Energy to Southeast Asia until 2020.

But the best-known cooperation was with ExxonMobil in 2012. The goal of this partnership is to remove carbon dioxide from Exxon’s power plant exhaust and trap it in the ground through a process called Carbon Capture and Sequestration (CCS). This technology could be used in a great many industries.

Since 2019, the joint development agreement with a focus on improving carbonate fuel cell technology is therefore for the purpose of capturing carbon dioxide from industrial plants. This partnership was renewed again at the turn of the year 2023.

The issue of “emissions” is also strongly promoted and supported politically. There is a program worth billions from the USA and Europe with clear targets by when emissions will be reduced worldwide. FuelCell Energy can actively contribute to this and in the last two years has again benefited from this trend through increasing sales.

Only the profits are not yet available – we have discussed this point in the balance sheet and the chart image in detail in this video.

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The video for the FuelCell Energy analysis

In the “US Stocks in Focus” format, Roland Jegen and Andreas Bernstein regularly take a closer look at US stocks. Today FuelCell Energy is the topic of the day, here is the video:

The analyzes concentrate on fundamental data as well as on the chart technique.

What can be expected in the future? You can get all the insights in our video!

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