Recent Updates — FCEL

The board of FuelCell Energy elected Peter Hopper as a new director effective October 26, 2026, after increasing the board size to ten members. Hopper brings over 25 years of experience in digital infrastructure, private equity, and M&A, having co-led the $11 billion take-private acquisition of Switch Inc. He will serve on the Compensation and Leadership Development Committee and the Nominating, Governance and Sustainability Committee. In connection with his election, he receives a $75,000 annual retainer and 2,231 restricted stock units. The appointment signals the company's strategic focus on providing reliable baseload power for AI-driven data centers. FuelCell Energy is a U.S. clean-energy technology company that delivers continuous, scalable baseload power using fuel cell systems.

FuelCell Energy appointed Matthew Latino as Executive Vice President, Chief Financial Officer and Treasurer effective October 7, 2026. Latino brings experience from Xylem Inc., where he served as Senior Vice President of Finance. His employment agreement includes a $460,000 annual base salary, a target bonus equal to 70% of base, and a $1 million target long-term incentive award for fiscal year 2027. Concurrently, outgoing CFO Michael Bishop will transition to Senior Advisor to the CEO through April 2027 before separating from the company. Upon separation, Bishop is eligible for severance equal to one year's salary, accelerated vesting of restricted stock units, and COBRA benefits. FuelCell Energy develops fuel cell technologies for stationary power generation.

FuelCell Energy reported third fiscal quarter results ending July 31, 2026, with revenue of $33.0 million and a net loss per share of $(0.64). The company secured its first data center power agreement with Fit Energy for up to 380 MW across four phases and signed a capacity reservation agreement for a 75 MW project in Texas. Committed backlog rose approximately 4% to $1.3 billion, while awarded capacity backlog reached $2.4 billion, bringing total backlog to $3.6 billion. Cash and equivalents totaled $737.3 million following a July public offering that raised $245.5 million. The company is expanding its Torrington, CT manufacturing facility to 500 MW of annualized production capacity by June 2028. FuelCell Energy operates in the clean energy technology sector, designing and delivering fuel cell systems for baseload power generation.

FuelCell Energy, Inc. entered into an underwriting agreement with Citigroup Global Markets Inc. and Barclays Capital Inc. on July 7, 2026, for an underwritten offering of 10,714,286 shares of common stock at $21.00 per share. Underwriters exercised a 30-day option to purchase an additional 1,607,143 shares on July 8, 2026. The company expects to receive approximately $245.4 million in net proceeds to fund manufacturing capacity expansion, working capital, and general corporate purposes. The offering is expected to close on July 9, 2026. FuelCell Energy, Inc. is a clean energy company that develops and manufactures fuel cell power plants.

FuelCell Energy, Inc. entered into a Capital Equipment Purchase Agreement with Fit Energy USA LP to manufacture and deliver carbonate fuel cell block systems for data center applications, totaling up to 380 MW of capacity. In connection with the agreement, the company issued warrants to Fit for the right to purchase up to 12,000,000 shares of common stock at an exercise price of $26.44 per share, with vesting tied to project phase deposits. FuelCell Energy, Inc. manufactures and sells fuel cell power generation systems.