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Stock Market & Financial Investment News

News Breaks
March 10, 2014
06:53 EDTFCELFuelCell March volatility elevated at 171 after sharp rally into Q1
FuelCell March call option implied volatility is at 171, April is at 153, July is at 132; compared to its 26-week average of 93 according to Track Data, suggesting large near term price movement into the expected release of Q1 results after the market close on March 11.
News For FCEL From The Last 14 Days
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October 29, 2014
16:49 EDTFCELFuelCell announces manufacturing expansion to reduce costs
FuelCell Energy announced a two stage expansion project to improve manufacturing and logistics efficiencies and position the company for continued global growth. The existing manufacturing facility in Torrington, Connecticut, will be expanded in the first stage and production equipment will be added in the second stage. The State of Connecticut has extended a financial package through the Department of Economic and Community Development for both stages, including $20M of low interest long-term loans and up to $10M of tax credits, predicated on certain terms and conditions, including the forgiveness of 50% of the loan principal if certain job retention and job creation targets are reached. The first stage involves the expansion of the existing 65,000 square foot manufacturing facility by 90,000 square feet for a total size of 155,000 square feet. Initially, this additional space will be used to enhance and streamline logistics functions and provide the space needed to reconfigure the existing production process to improve manufacturing efficiencies and realize cost savings. The company expects to enter into a long term lease of up to 15 years as part of this expansion. The cost of the first stage construction is expected to be funded by a mix of private capital and State financial support. Construction is expected to be completed by early 2016. Additionally, plans for the second stage include the installation of a megawatt scale tri-generation fuel cell plant to power and heat the facility as well as provide hydrogen for the manufacturing process of the fuel cell components, and the creation of advanced technology testing and prototype manufacturing. In addition, the final stage of the fuel cell module manufacturing will be relocated to the Torrington facility from its current location at the Danbury, Connecticut headquarters, which will reduce logistics costs.

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