FuelCell Energy Inc (FCEL) shares took a significant dive on Thursday morning, plummeting by 11.6% to 30 cents, following the announcement of a 1-for-30 reverse stock split. This move aims to boost the stock’s price and help the company comply with Nasdaq’s minimum price requirement. The impact of the recent election on clean energy stocks, including FCEL, is also analyzed.
FuelCell Energy, Inc. (FCEL) stock surged on Tuesday after the company announced a memorandum of understanding (MOU) with Korea Hydro & Nuclear Power Co., Ltd. (KHNP) to collaborate on hydrogen energy business initiatives. This strategic partnership aims to leverage FuelCell Energy’s advanced electrolysis technology and KHNP’s nuclear power infrastructure to develop clean hydrogen solutions for South Korea.
FuelCell Energy, Inc. (FCEL) received a CAD$5.9 million grant from Natural Resources Canada to support projects utilizing its electrolyzer technology for producing synthetic fuels. The projects, in collaboration with various partners, aim to capture carbon emissions and convert them into low-carbon synthetic diesel fuels, showcasing the potential of FuelCell Energy’s technology for decarbonization.
