We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
FuelCell Energy (FCEL) Receives $8M Contract From U.S. DOE
Read MoreHide Full Article
FuelCell Energy (FCEL - Free Report) announced that it has received a $8-million contract from the U.S. Department of Energy’s (“DOE”) Office of Energy Efficiency and Renewable Energy, in collaboration with the Office of Nuclear Energy, to design and manufacture a SureSource electrolysis platform capable of producing hydrogen.
The project awarded to FuelCell will be the first multi-stack electrolysis system produced with the solid oxide technology. The new system will be equipped with an option of receiving thermal energy, thereby increasing the electrolysis electrical efficiency to more than 90%.
Utilization of the New System
This new highly efficient electrolysis platform to be developed by FuelCell is expected to provide much-needed flexibility to baseload nuclear power generation. After initial testing of the system in its own facility, FuelCell will deliver it to Idaho National Laboratories (“INL”).
At INL, this system will be further tested to confirm the electric efficiency and the ability to utilize nuclear power plant waste heat to obtain higher efficiencies of up to 100%.
The solid oxide electrolysis technology that will be used in this system has the potential to be an economical, near-term solution for energy and environmental needs that simultaneously supports the advancement of nuclear plant utilization.
FuelCell’s Long-Term Goal
The long-term objective of the company is to deliver clean, efficient and affordable fuel cell solutions configured for the supply, recovery and storage of energy for customers. Its SureSource power plants provide clean energy solutions to customers.
This new project can assist FuelCell to commercialize the high-efficiency solid oxide electrolysis technology. The multi-stack module that forms the core of the system is a modular building block easily scalable for larger systems, which can generate continuous clean electricity per the needs of customers.
FuelCell Technology’s Importance
This technology’s capability to produce clean energy and operate at higher efficiency compared with conventional combustion engines is commendable. Given the capability of emission-less production, the technology is used in different power plants, and public as well as passenger vehicles.
The ongoing research and development activities are assisting companies like Ballard Power Systems (BLDP - Free Report) , Plug Power, Inc. (PLUG - Free Report) and Bloom Energy Corporation (BE - Free Report) to make this FuelCell technology more adaptable to the needs of customers and a commercially viable energy production source.
In the past six months, the company’s shares have rallied 69%, outperforming the industry’s 11.4% growth.
Zacks’ 2020 Election Stock Report
In addition to the companies you learned about above, we invite you to learn more about profiting from the upcoming presidential election. Trillions of dollars will shift into new market sectors after the votes are tallied, and investors could see significant gains. This report reveals specific stocks that could soar: 6 if Trump wins, 6 if Biden wins.
Image: Bigstock
FuelCell Energy (FCEL) Receives $8M Contract From U.S. DOE
FuelCell Energy (FCEL - Free Report) announced that it has received a $8-million contract from the U.S. Department of Energy’s (“DOE”) Office of Energy Efficiency and Renewable Energy, in collaboration with the Office of Nuclear Energy, to design and manufacture a SureSource electrolysis platform capable of producing hydrogen.
The project awarded to FuelCell will be the first multi-stack electrolysis system produced with the solid oxide technology. The new system will be equipped with an option of receiving thermal energy, thereby increasing the electrolysis electrical efficiency to more than 90%.
Utilization of the New System
This new highly efficient electrolysis platform to be developed by FuelCell is expected to provide much-needed flexibility to baseload nuclear power generation. After initial testing of the system in its own facility, FuelCell will deliver it to Idaho National Laboratories (“INL”).
At INL, this system will be further tested to confirm the electric efficiency and the ability to utilize nuclear power plant waste heat to obtain higher efficiencies of up to 100%.
The solid oxide electrolysis technology that will be used in this system has the potential to be an economical, near-term solution for energy and environmental needs that simultaneously supports the advancement of nuclear plant utilization.
FuelCell’s Long-Term Goal
The long-term objective of the company is to deliver clean, efficient and affordable fuel cell solutions configured for the supply, recovery and storage of energy for customers. Its SureSource power plants provide clean energy solutions to customers.
This new project can assist FuelCell to commercialize the high-efficiency solid oxide electrolysis technology. The multi-stack module that forms the core of the system is a modular building block easily scalable for larger systems, which can generate continuous clean electricity per the needs of customers.
FuelCell Technology’s Importance
This technology’s capability to produce clean energy and operate at higher efficiency compared with conventional combustion engines is commendable. Given the capability of emission-less production, the technology is used in different power plants, and public as well as passenger vehicles.
The ongoing research and development activities are assisting companies like Ballard Power Systems (BLDP - Free Report) , Plug Power, Inc. (PLUG - Free Report) and Bloom Energy Corporation (BE - Free Report) to make this FuelCell technology more adaptable to the needs of customers and a commercially viable energy production source.
Zacks Rank & Price Performance
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past six months, the company’s shares have rallied 69%, outperforming the industry’s 11.4% growth.
Zacks’ 2020 Election Stock Report
In addition to the companies you learned about above, we invite you to learn more about profiting from the upcoming presidential election. Trillions of dollars will shift into new market sectors after the votes are tallied, and investors could see significant gains. This report reveals specific stocks that could soar: 6 if Trump wins, 6 if Biden wins.
Check out the 2020 Election Stock Report >>