FuelCell Energy Inc. is a fuel cell power company headquartered in Danbury, Connecticut, United States. It was founded in 1969 as Energy Research Corporation and later changed its name to FuelCell Energy Inc. The company develops and produces fuel cell power plants that generate electricity with hydrogen, natural gas, and biogas as fuel sources. Fuel cells are a clean and efficient way of generating electricity, as they do not produce greenhouse gases or other harmful pollutants. The company's fuel cell systems are designed for use in various applications, such as electric power generation for utility and industrial customers, and distributed power generation for on-site power generation.
FuelCell Energy Inc. went public in 1992, and its shares are traded on the Nasdaq stock exchange under the ticker symbol FCEL. The company has a market capitalization of over $5 billion, as of May 2023. FuelCell Energy has partnerships with several companies and organizations to develop and deploy fuel cell technology, including ExxonMobil, Toyota, and the U.S. Department of Energy.
The company's flagship product is the SureSource platform, which is a stationary fuel cell power plant that can generate electricity with high efficiency and low emissions. The SureSource platform can be configured to meet the specific needs of various applications, including distributed power generation, electric vehicle charging, and renewable energy storage. The platform has a modular design, which makes it easy to scale up or down depending on the power requirements.
FuelCell Energy has a significant presence in the United States and has supplied its fuel cell power plants to several U.S. government facilities, including military bases and NASA. The company has also expanded its operations to other countries, including South Korea, Japan, and Europe. In 2021, FuelCell Energy announced a partnership with Drax Power Station in the UK to develop a carbon capture system using its fuel cell technology.