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Key Takeaways FuelCell Energy's system earns a 99.873% capacity rating in PJM's 2028/2029 reliability assessment.PJM projects 32 GW of peak load growth by 2030, with about 30 GW expected from data centers.High capacity accreditation could raise eligible projects' revenue potential, subject to market outcomes.
FuelCell Energy, Inc. (FCEL - Free Report) has achieved a 99.873% capacity rating for its FuelCell Energy Block System in PJM Interconnection’s unit-specific Effective Load Carrying Capability (ELCC) assessment for the 2028/2029 Reliability Backstop Procurement process. The result highlights the potential reliability contribution of the company’s fuel cell technology as electricity demand rises, particularly from data centers and other large power consumers seeking dependable, on-site generation.

FuelCell Energy Secures Strong PJM Capacity AccreditationThe 99.873% rating indicates that PJM may recognize nearly all the evaluated system’s capacity as dependable under the applicable assessment. In practical terms, approximately 99.9 megawatts of every 100 megawatts evaluated could be counted as dependable capacity.

For comparison, PJM’s preliminary technology-class ratings for the same period recognize 96% of nuclear capacity, 93% of diesel utility or engine-based backup capacity and 67% of gas combustion turbine capacity. The assessment provides an important benchmark for customers evaluating the dependability of FuelCell Energy’s systems.

However, the rating applies specifically to the system evaluated for the 2028/2029 procurement process. It is not a technology-wide rating or a measure of operating uptime, and future assessments could differ.

Rising Data Center Demand Boosts Need for On-Site PowerGrowing electricity consumption from data centers is increasing pressure on power infrastructure and strengthening the need for dependable generation. PJM projects 32 gigawatts of peak load growth across its region between 2024 and 2030, with approximately 30 gigawatts expected to come from data centers.

Against this backdrop, large electricity users are increasingly considering generation solutions that can deliver power directly where it is needed. FuelCell Energy’s carbonate fuel cell technology provides continuous, on-site electricity generation, potentially helping data centers, industrial facilities and other large customers address their power requirements.

The company's latest capacity assessment could provide customers with an additional independent measure when evaluating on-site generation options.

Capacity Accreditation Could Support Market OpportunitiesThe strong accreditation also carries potential economic implications for FuelCell Energy and eligible projects using its systems within PJM. The grid operator uses ELCC assessments to evaluate the reliability contribution of power resources and convert installed capacity into accredited capacity.

A higher accredited capacity level may allow eligible projects to offer more capacity into PJM's capacity market, potentially increasing their revenue opportunities. However, actual participation and financial benefits remain subject to market requirements, procurement decisions and auction outcomes.

Future participation in the Reliability Backstop Procurement process would also depend on the applicable evaluation procedures. Following federal regulatory approval and delayed implementation of the procurement process, updated accreditation could be required using revised assumptions and study inputs.

FuelCell Energy emphasized that customers need to understand how much power they can depend on as they determine where and how quickly to expand. He noted that the assessment offers an independent measure of the platform's dependability and could have economic significance because accredited capacity influences the amount of generation that can potentially be monetized.

FuelCell Energy Targets Mission-Critical Power NeedsFuelCell Energy develops modular fuel cell systems designed to provide continuous, scalable baseload electricity for mission-critical applications. Its systems generate power at the point of use and serve data centers, industrial facilities, utilities and distributed-generation customers.

The 99.873% assessment result strengthens the company's case for consideration by customers seeking reliable on-site power amid rising electricity demand. It also highlights a potential avenue for eligible projects to participate in PJM's capacity market.

Nevertheless, the ultimate commercial benefit will depend on project eligibility, future accreditation assessments and applicable market outcomes. The latest result offers a positive reliability signal as FuelCell Energy seeks to address growing demand for dependable power solutions.

FCEL’s Zacks Rank & Key PicksFuelCell Energy is a clean energy company that develops and provides stationary fuel cell systems for on-site, continuous power generation. Currently, FCEL carries a Zacks Rank #3 (Hold).

Investors interested in the alternative energy sector may consider some top-ranked stocks like Montauk Renewables, Inc. (MNTK - Free Report) , Clearway Energy, Inc. (CWEN - Free Report) and Enlight Renewable Energy Ltd (ENLT - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Montauk Renewables is a fully integrated renewable energy company that specializes in the management, recovery and conversion of biogas into renewable energy. The Zacks Consensus Estimate for MNTK’s 2026 earnings indicates 1100% year-over-year growth.

Clearway Energy, along with its subsidiaries, owns and operates a diversified portfolio of contracted renewable and conventional generation in the United States. The Zacks Consensus Estimate for CWEN’s 2026 revenues indicates 17.6% year-over-year growth.

Enlight Renewable Energy provides a renewable energy platform that develops, finances, constructs, owns and operates renewable energy projects. The Zacks Consensus Estimate for ENLT’s 2026 revenues indicates 40.2% year-over-year growth.

Institutional holders of FuelCell Energy are being notified that a securities class action alleges the Company did not disclose that its manufacturing capacity was inadequate to produce at the rate required under its Fit Energy purchase agreement, leaving per-unit product costs above contractual pricing.

, /PRNewswire/ -- Levi & Korsinsky, LLP notifies institutional investors in FuelCell Energy, Inc. (NASDAQ: FCEL) that a class action lawsuit has been filed on behalf of shareholders who purchased securities between June 24, 2026 and September 1, 2026. Request an institutional investor loss assessment. You may also contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.

FCEL shares declined 15.69%, or $2.68 per share, in a single session on September 2, 2026, on unusually heavy trading volume. For a fund holding 500,000 shares, that one-day repricing corresponds to roughly $1.34 million of position value. Those wishing to serve as lead plaintiff must act by November 10, 2026.

Notice to Institutional Holders

The pleading asserts that FuelCell's public statements during the Class Period did not disclose that its manufacturing capacity was inadequate to generate the production rate required under the capital equipment purchase agreement with Fit Energy USA LP. As averred, the resulting shortfall drove higher product costs and manufacturing overhead and made contract-related charges reasonably likely, conditions the complaint charges were a known trend affecting profitability.

ERISA and Fiduciary Considerations

Pension plans, endowments, and asset managers that accumulated FCEL positions during the Class Period may wish to document the effect of the alleged misstatements on their holdings. Fiduciaries frequently treat evaluation of securities litigation claims as part of ordinary plan asset administration rather than as discretionary litigation activity.

Fiduciary Obligations and Recovery Options

Funds that purchased FCEL between June 24, 2026 and September 1, 2026 may hold claims regardless of whether the shares are still held. ERISA and public pension fiduciaries are generally expected to identify, document, and assess portfolio losses arising from alleged securities violations. Lead plaintiff appointment provides direct oversight of counsel selection, litigation strategy, and settlement decisions. Courts typically favor the movant with the largest documented financial interest that also satisfies adequacy and typicality requirements. Absent class members retain the ability to participate in any eventual recovery without seeking appointment. A loss assessment can be prepared from trade blotters or custodian records at no cost to the institution. "Institutional investors play a critical role in securities class actions, particularly where the alleged omissions concern production capacity and cost absorption that sophisticated holders price directly into their models. The allegations here concern information that a fiduciary would ordinarily consider material to a FuelCell position." -- Joseph E. Levi, Esq.

Contact us to learn more about institutional recovery options or call (212) 363-7500.

INSTITUTIONAL INVESTOR REPRESENTATION — Levi & Korsinsky, LLP provides sophisticated counsel to institutional investors evaluating lead plaintiff opportunities. The firm has recovered hundreds of millions of dollars. Ranked among ISS Top 50 for seven consecutive years.

Frequently Asked Questions About the FCEL Lawsuit

Q: When did FuelCell Energy allegedly mislead investors? A: The Class Period runs from June 24, 2026 to September 1, 2026. The complaint alleges that corrective disclosures revealed information that caused a significant stock decline.

Q: What court was the FCEL class action filed in? A: The case was filed in the United States District Court for the Southern District of New York, governed by the Private Securities Litigation Reform Act of 1995.

Q: Who are the defendants named in the FCEL lawsuit? A: The complaint names FuelCell Energy, Inc. and individual defendants including senior executives, CEO Jason B. Few and CFO Michael S. Bishop.

Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.

Q: What do FCEL investors need to do right now? A: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Submit your information for a no-cost, no-obligation evaluation of your potential recovery. No immediate action is required to remain eligible as an absent class member.

Q: What if I already sold my FCEL shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.

Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. If there is a settlement or recovery, eligible class members generally submit a claim form to seek their portion.

CONTACT:\
Levi & Korsinsky, LLP\
Joseph E. Levi, Esq.\
Ed Korsinsky, Esq.\
33 Whitehall Street, 27th Floor\
New York, NY 10004\
[email protected]\
Tel: (212) 363-7500\
Fax: (212) 363-7171

Attorney Advertising. Prior results do not guarantee similar outcomes.

SOURCE Levi & Korsinsky, LLP

NEW YORK, Oct. 19, 2026 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in FuelCell Energy, Inc. (NASDAQ: FCEL) that a class action lawsuit has been filed on behalf of shareholders who purchased securities between June 24, 2026 and September 1, 2026. Find out if you could qualify to recover your per-share losses. You may also contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.

FCEL closed at a Class Period high of $36.01 per share on June 30, 2026. On September 2, 2026, the stock fell $2.68, or 15.69%, to close at $14.40 after the Company reported a fiscal third quarter net loss of $45.3 million and a $17.0 million charge tied to its Fit Energy agreement. Investors have until November 10, 2026 to seek appointment as lead plaintiff.

The Promise

On June 24, 2026, the Company announced a Capital Equipment Purchase Agreement with Fit Energy USA LP for up to 380 megawatts of baseload on-site power for data centers, including an immediate deposit for an initial committed 30 MW phase scheduled to begin delivery later that year. Management stated that the agreement "further validates our decision to scale our operations to 500 MW, preserving our ability to serve a broad and growing pipeline of customers." Two weeks later, the Company priced an underwritten offering of approximately 12.3 million shares at $21.00 per share.

The Reality

Results revealed on September 2, 2026 described a very different production picture. The Company reported that per-unit product costs and absorbed fixed manufacturing overhead reflected "the annualized production rate of approximately 37.1 MW at which we operated during the quarter, which remains below the production volume at which we expect our cost structure to align with market-based pricing for orders of this scale." Product costs and manufacturing overhead exceeded the contractual pricing established under the Fit Energy agreement, and the Company recorded $17.0 million in charges tied to inventory and firm purchase commitments arising from Phase 0.

Promise vs. Actual: By the Numbers

Announced program scale of up to 380 MW; actual annualized production rate of approximately 37.1 MW.Stated intent to scale operations to 500 MW; disclosed maximum annualized Torrington capacity of 100 MW under its current configuration.Contractual pricing under the agreement; product costs and overhead that exceeded that pricing, producing $17.0 million in charges.Quarterly revenue of $33.0 million versus $46.7 million a year earlier, a decrease of approximately 29%.Gross loss of $(24.5) million versus $(5.1) million a year earlier, an increase of approximately 377%.A Class Period high of $36.01 per share on June 30, 2026 against a $14.40 close on September 2, 2026. The gap demonstrates what the lawsuit contends investors were never told: that manufacturing capacity was allegedly inadequate to generate the production rate the agreement required, that the resulting cost overruns were allegedly a known trend affecting profitability, and that charges tied to Phase 0 were allegedly reasonably likely well before they were disclosed.

"Companies that make specific promises to investors about future performance have an obligation to disclose known risks to those projections. Here, the complaint alleges that Fuel Cell did not appropriately caution investors that the production rate needed to support the announced Fit Energy commitment was not achievable at the time the agreement was promoted to the market." -- Joseph E. Levi, Esq.

Submit your information here or call (212) 363-7500.

WHY LEVI & KORSINSKY — Ranked in ISS Securities Class Action Services' Top 50 Report for seven consecutive years, Levi & Korsinsky, LLP is a nationally recognized leader in shareholder rights litigation. With a team of over 70 professionals, the firm has recovered hundreds of millions of dollars for investors. Investors who suffered losses have until November 10, 2026 to seek appointment as lead plaintiff.

Frequently Asked Questions About the FCEL Lawsuit

Q: What is the FCEL lead plaintiff deadline? A: The deadline to apply for lead plaintiff appointment is November 10, 2026. This deadline applies only to investors seeking to serve as lead plaintiff. Class members who do not apply may still participate in any recovery without taking action before this date.

Q: How much did FCEL stock drop? A: Shares fell approximately 15.69%, a decline of $2.68 per share, after the Company disclosed a fiscal third quarter net loss of $45.3 million and a $17.0 million charge reflecting contractual pricing provisions tied to inventory and firm purchase commitments under the Fit Energy agreement. Investors who purchased shares during the Class Period at artificially inflated prices and suffered losses may be eligible to seek compensation.

Q: What specific misstatements does the FCEL lawsuit allege? A: The complaint alleges FuelCell Energy, Inc. made materially false or misleading statements or otherwise omitted known information regarding the adequacy of its manufacturing capacity to generate the production rate required under the Fit Energy agreement, and the likelihood of incurring the resulting product cost and manufacturing overhead increases.

Q: What do FCEL investors need to do right now? A: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Submit your information for a no-cost, no-obligation evaluation of your potential recovery. No immediate action is required to remain eligible as an absent class member.

Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.

Q: What if I already sold my FCEL shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.

Q: What does it cost me to participate? A: There is no upfront cost to submit your information and review whether you may be eligible to recover. Should you choose to participate in the securities class action, they are generally handled on a contingency basis, with any attorneys' fees and expenses subject to court approval.

Q: How long will the lawsuit take to resolve? A: Securities class actions typically take two to four years from initial filing to resolution. Timing depends on the court schedule, case developments, and whether the matter is dismissed, settled, or litigated further.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171

Attorney Advertising. Prior results do not guarantee similar outcomes.

Investors who purchased FuelCell Energy stock between June 24, 2026 and September 1, 2026 retain specific rights under the federal securities laws, following a class action alleging the Company did not disclose that its production rate was running far below the level needed to cover the contractual pricing of its Fit Energy agreement.

, /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in FuelCell Energy, Inc. (NASDAQ: FCEL) that a securities class action has been filed on behalf of shareholders who purchased securities between June 24, 2026 and September 1, 2026. Submit your information. You may also contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.

FCEL closed at a Class Period high of $36.01 per share on June 30, 2026. On September 2, 2026, shares fell $2.68, or 15.69%, to close at $14.40 on unusually heavy volume after the Company reported a net loss of $45.3 million and $17.0 million in charges tied to Phase 0 of the Fit Energy agreement. Lead plaintiff applications must be submitted by November 10, 2026.

Rights Held by Every FCEL Class Period Purchaser

Every investor who bought FuelCell securities during the Class Period is automatically a member of the proposed class if the case proceeds, whether or not they ever contact a law firm. The action alleges that purchasers paid prices that did not reflect the Company's reported annualized production rate of approximately 37.1 MW, a level the Company described as below the volume at which it expected its cost structure to align with market-based pricing.

What Class Period Purchasers Are Entitled To

Membership in the proposed class without any filing, payment, or court appearance
The right to seek appointment as lead plaintiff and direct how the litigation is conducted
The right to have trading records reviewed at no cost to assess potential eligibility
The right to participate in any recovery obtained for the class, even without serving as lead plaintiff
The right to select their own counsel rather than accept a firm chosen by others
The right to do nothing now and still preserve absent class member status

Why Eligibility Turns on Purchase Dates, Not Share Count

There is no minimum position size. Plaintiffs contend that FuelCell securities traded at artificially inflated prices from the June 24, 2026 announcement of the up-to-380 MW capital equipment purchase agreement until the fiscal third quarter results reported revenue of $33.0 million, down approximately 29% year over year, and a gross loss of $(24.5) million. Eligibility depends on when shares were purchased and whether a loss was sustained, not on whether the shares are still held.

"Shareholders who bought FCEL during this window have rights regardless of the size of their position. The complaint alleges that investors were not told the production rate was below the level required under the Fit Energy pricing terms, and those allegations will be tested in court." -- Joseph E. Levi, Esq.

Act now. Click here to learn more or call (212) 363-7500.

ABOUT LEVI & KORSINSKY, LLP — Over the past 20 years, Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders. The firm has extensive expertise in complex securities litigation and a team of over 70 employees. For seven consecutive years, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report. Investors who suffered losses have until November 10, 2026 to seek appointment as lead plaintiff.

Frequently Asked Questions About the FCEL Lawsuit

Q: Who is eligible to join the FCEL investor lawsuit? A: Investors who purchased FCEL stock or securities between June 24, 2026 and September 1, 2026 and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses -- not on whether you still hold the shares.

Q: What is the FCEL lead plaintiff deadline? A: The deadline to apply for lead plaintiff appointment is November 10, 2026. This deadline applies only to investors seeking to serve as lead plaintiff. Class members who do not apply may still participate in any recovery without taking action before this date.

Q: How much did FCEL stock drop? A: Shares fell approximately 15.69%, a decline of $2.68 per share, after the Company disclosed fiscal third quarter 2026 results including a $45.3 million net loss and $17.0 million in charges reflecting contractual pricing provisions tied to Phase 0 of the Fit Energy CEPA. Investors who purchased shares during the Class Period at artificially inflated prices and suffered losses may be eligible to seek compensation.

Q: What do FCEL investors need to do right now? A: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Submit your information for a no-cost, no-obligation evaluation of your potential recovery. No immediate action is required to remain eligible as an absent class member.

Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.

Q: What if I already sold my FCEL shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.

Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. If there is a settlement or recovery, eligible class members generally submit a claim form to seek their portion.

Q: What does it cost me to participate? A: There is no upfront cost to submit your information and review whether you may be eligible to recover. Should you choose to participate in the securities class action, they are generally handled on a contingency basis, with any attorneys' fees and expenses subject to court approval.

CONTACT:\
Levi & Korsinsky, LLP\
Joseph E. Levi, Esq.\
Ed Korsinsky, Esq.\
33 Whitehall Street, 27th Floor\
New York, NY 10004\
[email protected]\
Tel: (212) 363-7500\
Fax: (212) 363-7171

Attorney Advertising. Prior results do not guarantee similar outcomes.

SOURCE SueWallSt.com

New York, New York--(Newsfile Corp. - October 11, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities FuelCell Energy, Inc. (NASDAQ: FCEL) between June 24, 2026 and September 1, 2026, inclusive (the "Class Period"), of the important November 10, 2026 lead plaintiff deadline.

SO WHAT: If you purchased FuelCell securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the FuelCell class action, go to https://rosenlegal.com/cases/fuelcell-energy-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 10, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) FuelCell's manufacturing capacity was inadequate to generate the production rate required under the capital equipment purchase agreement ("CEPA"); (2) as a result, FuelCell's annualized production rate for deliveries under the CEPA with Fit Energy was slower than expected; (3) as a result, FuelCell was incurring higher product costs and manufacturing overhead expenses; (4) as a result of the slower production rate, FuelCell was reasonably likely to incur charges in connection with the CEPA; (5) the foregoing was a known trend affecting FuelCell's profitability; and (6) as a result of the foregoing, defendants' positive statements about FuelCell's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the FuelCell class action, go to https://rosenlegal.com/cases/fuelcell-energy-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/318387

Source: The Rosen Law Firm PA

Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.

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New York, New York--(Newsfile Corp. - October 8, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities FuelCell Energy, Inc. (NASDAQ: FCEL) between June 24, 2026 and September 1, 2026, inclusive (the "Class Period"), of the important November 10, 2026 lead plaintiff deadline.

SO WHAT: If you purchased FuelCell securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the FuelCell class action, go to https://rosenlegal.com/cases/fuelcell-energy-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 10, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) FuelCell's manufacturing capacity was inadequate to generate the production rate required under the capital equipment purchase agreement ("CEPA"); (2) as a result, FuelCell's annualized production rate for deliveries under the CEPA with Fit Energy was slower than expected; (3) as a result, FuelCell was incurring higher product costs and manufacturing overhead expenses; (4) as a result of the slower production rate, FuelCell was reasonably likely to incur charges in connection with the CEPA; (5) the foregoing was a known trend affecting FuelCell's profitability; and (6) as a result of the foregoing, defendants' positive statements about FuelCell's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the FuelCell class action, go to https://rosenlegal.com/cases/fuelcell-energy-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/318173

Source: The Rosen Law Firm PA

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Matthew Latino appointed CFO; Michael Bishop to continue as senior advisor  | Source: FuelCell Energy, Inc.

DANBURY, Conn., Oct. 07, 2026 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. (Nasdaq: FCEL) today announced that Michael Bishop will transition from his role as Executive Vice President, Chief Financial Officer and Treasurer of the Company. Matthew Latino will succeed him as Executive Vice President, Chief Financial Officer and Treasurer effective October 7, 2026, as part of a planned transition. Bishop, who has served as the Company’s CFO for 15 years during an overall tenure with the Company of more than two decades, will remain with FuelCell Energy as a senior advisor through the Company’s 2027 Annual Meeting of Stockholders to support continuity and the transition.

FuelCell Energy also reaffirmed its previously stated target of achieving positive Adjusted EBITDA results in the fourth quarter of fiscal 2027, subject to the planned increase in annualized production rate, the conversion of awarded capacity backlog into committed backlog, customer delivery schedules and continued execution of the Company’s cost reduction initiatives. The Company remains focused on converting its growing commercial pipeline—driven by demand for reliable, always-on power for AI and data center infrastructure—into durable growth, while scaling manufacturing, advancing customer financing structures and maintaining disciplined capital allocation, liquidity and balance sheet strength.

“Mike has been a steward of this Company through every stage of its journey,” said Jason Few, President and Chief Executive Officer. “Over more than two decades, he led our finance organization through periods that tested our business and our industry while maintaining a clear focus on financial discipline, integrity, the long-term interests of the business, and our commitment to shareholders. His leadership across capital formation, project finance and balance sheet management strengthened our financial foundation and supported the evolution of our strategy. I am grateful for his service and pleased that we will continue to benefit from his perspective during the transition.”

“Serving as CFO of FuelCell Energy has been one of the great privileges of my career,” said Bishop. “I am proud of what our finance team and our colleagues across the Company have accomplished together and of the strong foundation we have built. I have tremendous confidence in Jason, the leadership team, and the Board, and I look forward to supporting a seamless transition and sharing in the Company’s success as a continuing shareholder.”

Latino joins FuelCell Energy from Xylem Inc. (NYSE: XYL), where he served as Senior Vice President, Finance and Segment Chief Financial Officer of its approximately $2 billion Measurement & Control Solutions business. He previously led Xylem’s investor relations function, giving him direct experience engaging the investment community and communicating strategy, performance and long-term value creation. Latino began his career at Deloitte & Touche LLP.

“As we scale, our responsibility to shareholders is to grow with discipline-every megawatt we build and every dollar we deploy must compound value,” Few said. “Matt has led finance for a large-scale industrial technology business, partnered with operating leaders to drive performance, and led investor relations for a global public company. He understands how the market measures execution and how to build the operating rhythm that delivers it. We believe he is the right leader to help us convert a significant commercial opportunity into durable shareholder value.”

“I am honored to join FuelCell Energy at an important point in the Company’s evolution,” said Latino. “The Company has a differentiated technology platform, a strong financial foundation and clear strategic priorities. I look forward to partnering with Jason, the leadership team and the Board to build on the foundation Mike helped establish, maintain rigorous financial discipline, and support the execution and investment decisions required to scale the business and create sustainable value.”

FuelCell Energy, Inc. (Nasdaq: FCEL) is an American clean energy technology company delivering continuous, scalable baseload power for mission-critical applications globally. The company’s fuel cell systems generate electricity directly at the point of use, enabling reliable, low-emissions power for data centers, industrial facilities, utilities, and distributed generation customers. FuelCell Energy delivers commercially proven, modular, utility-scale systems—backed by global fuel cell deployments approaching one gigawatt. Learn more at www.FuelCellEnergy.com. 

Cautionary Language

This news release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 regarding future events or our future financial performance that involve certain contingencies and uncertainties. The forward-looking statements include, without limitation, statements with respect to the Company’s anticipated financial results and statements regarding the Company’s plans and expectations regarding the continuing development, commercialization and financing of its current and future fuel cell technologies, the Company’s business plans and strategies, the Company’s plan to reduce operating costs, the capabilities of the Company’s products, the Company’s plans and ability to achieve positive Adjusted EBITDA, subject to the planned increase in annualized production rate, the conversion of awarded capacity backlog into committed backlog, customer delivery schedules and continued execution of the Company’s cost reduction initiatives, the Company’s potential sales pipeline, opportunities, and partners, and the markets in which the Company expects to operate. Projected and estimated numbers contained herein are not forecasts and may not reflect actual results. These forward-looking statements are not guarantees of future performance, and all forward-looking statements are subject to risks and uncertainties, known and unknown, that could cause actual results and future events to differ materially from those projected. Factors that could cause such a difference include, without limitation: general risks associated with product development and manufacturing; general economic conditions; changes in interest rates, which may impact project financing; supply chain disruptions; changes in the utility regulatory environment; changes in the utility industry and the markets for distributed generation, distributed hydrogen, and fuel cell power plants configured for carbon capture or carbon separation; potential volatility of commodity prices that may adversely affect our projects; availability of government subsidies and economic incentives for alternative energy technologies; our ability to remain in compliance with U.S. federal and state and foreign government laws and regulations; our ability to maintain compliance with the listing rules of The Nasdaq Stock Market; rapid technological change; competition; the risk that our bid awards (or other non-binding commitments) will not convert to contracts or that our contracts will not convert to revenue; market acceptance of our products; changes in accounting policies or practices adopted voluntarily or as required by accounting principles generally accepted in the United States; factors affecting our liquidity position and financial condition; government appropriations; the ability of the government and third parties to terminate their development contracts at any time; the ability of the government to exercise “march-in” rights with respect to certain of our patents; our ability to successfully market and sell our products internationally; delays in our timeline for bringing commercially viable products to market; our ability to develop additional commercially viable products in the future; our ability to implement our strategy; our ability to reduce our levelized cost of energy and deliver on our cost reduction strategy generally; our ability to protect our intellectual property; litigation and other proceedings; the risk that commercialization of our new products will not occur when anticipated or, if it does, that we will not have adequate capacity to satisfy demand; our need for and the availability of additional financing; our ability to generate positive cash flow from operations; our ability to service our long-term debt; our ability to increase the output and longevity of our platforms and to meet the performance requirements of our contracts; our ability to expand our customer base and maintain relationships with our largest customers and strategic business allies; our ability to reduce operating costs; and our ability to achieve positive Adjusted EBITDA in the future, as well as other risks set forth in the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K for the fiscal year ended October 31, 2025. The forward-looking statements contained herein speak only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement contained herein to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which any such statement is based.

Contacts

Media:
Kathleen Blomquist
[email protected]
203.546.5844

Investor Relations:
[email protected]

A month has gone by since the last earnings report for FuelCell Energy (FCEL - Free Report) . Shares have added about 13% in that time frame, outperforming the S&P 500.

But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is FuelCell Energy due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.

FCEL Q3 Loss Wider Than Expected on Fit Energy ChargesFuelCell Energy reported a fiscal third-quarter 2026 adjusted net loss of 64 cents per share, narrowing from the year-ago adjusted loss of 95 cents. Still, the loss was wider than the Zacks Consensus Estimate, resulting in a negative surprise of 100%. Revenues fell 29.4% year over year to $33 million and missed the $39 million consensus by 15.65%.

Lower Korean module deliveries and weaker generation output pressured sales, while $17 million of Fit Energy Phase 0 charges deepened the gross loss. Committed backlog rose 4.1% to $1.3 billion, while awarded capacity backlog totaled $2.4 billion.

FCEL Revenue Mix Declines Across BusinessesProduct revenues fell to $18 million from $26 million a year earlier, reflecting fewer module deliveries to South Korea as the Gyeonggi Green Energy repowering program neared completion. Service revenues declined to $2.4 million from $3.1 million.

Generation revenues dropped to $8.8 million from $12.4 million, principally due to lower output from the generation portfolio, including the 7.4-MW Groton project, which was offline for the quarter. Advanced Technologies revenues declined to $3.8 million from $5.3 million.

FuelCell Margins Absorb Fit Energy ChargesGross loss widened to $24.5 million from $5.1 million. The quarter included $17 million of charges related to the initial phase of a new data center equipment agreement with Fit Energy USA LP, a customer that contracted with FuelCell Energy for up to 380 MW of fuel cell systems. The charges reflected inventory write-downs and losses on firm purchase commitments because FuelCell’s current manufacturing costs exceeded the pricing set for the initial 30-MW order.

Operating expenses fell to $22.2 million from $90.2 million as the prior-year period included sizable impairment and restructuring charges. Loss from operations narrowed to $46.7 million from $95.4 million, although adjusted EBITDA worsened to negative $36.7 million from negative $16.4 million.

FCEL Builds Data Center BacklogFuelCell Energy’s agreement with Fit Energy USA LP covers up to 380 MW of fuel cell systems intended to provide baseload electricity for data center applications. The first 30-MW phase is a committed order, with deliveries expected to begin in the fiscal fourth quarter. Fit Energy can separately elect to proceed with another 350 MW across three additional phases.

After quarter-end, FCEL also signed a 75-MW capacity reservation for a planned Texas data center project. Fiscal 2026 proposals reached about 10 GW, with data centers representing roughly 97% of the third-quarter pipeline.

FuelCell Ramps Torrington for ProfitabilityFuelCell operated at an annualized production rate of about 37.1 MW and is targeting 100 MW in October 2026. The broader Torrington expansion targets 500 MW of annualized capacity by June 2028 at an expected cost of $200 million to $275 million, with management describing the project as fully funded. FCEL targets positive adjusted EBITDA in the fourth quarter of fiscal 2027, dependent on backlog conversion, customer delivery schedules and manufacturing cost reductions.

FCEL Liquidity Supports Capacity ExpansionCash, cash equivalents and restricted cash totaled $737.3 million at July 31, 2026, including $658.1 million of unrestricted cash. During the quarter, FuelCell raised about $245.5 million in net proceeds from an underwritten stock offering and another $52.9 million through its open-market sale agreement. FCEL's balance sheet was strengthened through equity issuance as it funds manufacturing expansion.

FuelCell Advances Global Technology ProjectsFuelCell completed the 42-module Gyeonggi Green Energy repowering program in South Korea during the quarter. It also delivered and installed the first two carbonate fuel cell carbon-capture modules at ExxonMobil's Rotterdam complex, moving the jointly developed technology into its first industrial-scale demonstration.

Management said the Rotterdam system is designed to capture more than 90% of carbon while producing power, thermal energy and hydrogen. The company also signed an MOU with Siemens aimed at supporting faster, lower-cost deployment of commercial projects above 100 MW through integrated electrical balance-of-plant systems.

How Have Estimates Been Moving Since Then?Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.

VGM ScoresCurrently, FuelCell Energy has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. Following the exact same course, the stock was allocated a grade of F on the value side, putting it in the bottom 20% quintile for this investment strategy.

Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook FuelCell Energy has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Philadelphia, Pennsylvania--(Newsfile Corp. - September 15, 2026) - Berger Montague, a leading national plaintiffs' law firm, announces that a class action lawsuit has been filed against FuelCell Energy, Inc. (NASDAQ: FCEL) ("FuelCell Energy" or the "Company") on behalf of investors who purchased or acquired FuelCell Energy securities during the period from June 24, 2026 through September 1, 2026 (the "Class Period"). The deadline to apply for lead plaintiff is November 10, 2026.

Q&A

What is this lawsuit about?
The complaint filed in this class action alleges that throughout the Class Period, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts, about the Company's business, operations, and prospects. Specifically, defendants failed to disclose to investors that: (1) the Company's manufacturing capacity was inadequate to generate the production rate required under its capital equipment purchase agreement ("CEPA") with Fit Energy USA LP ("Fit Energy"); (2) the Company's annualized production rate for deliveries under the CEPA with Fit Energy was slower than expected; (3) the Company was incurring higher product costs and manufacturing overhead expenses; (4) as a result of the slower production rate, the Company was reasonably likely to incur charges in connection with the CEPA.

On September 2, 2026, before the market opened, FuelCell reported its fiscal third quarter 2026 financial results, reporting a net loss of $45.3 million. According to the Company's press release, this reflected a higher gross loss than the prior year period, which was caused by product costs and manufacturing overhead that currently exceed the contractual pricing established under the CEPA with Fit Energy. Further, FuelCell reported that the annualized production rate was below the production volume at which it expects its cost structure to align with market-based pricing for orders of this scale, and as a result, the Company recorded a $17 million charge to reflect the impact of contractual pricing provisions associated with specific inventory and firm purchase commitments arising from Phase 0 of the CEPA.

On this news, FuelCell shares fell $2.68, or 15.69%, to close at $14.40 per share on September 2, 2026, thereby injuring investors.

Who is FuelCell Energy?
FuelCell Energy, headquartered in Danbury, Conn., is a global energy company that designs, manufactures, undertakes project development, installs, operates, and maintains megawatt-scale fuel cell systems.

What do I need to do?

Investor Deadline: Investors who purchased or acquired FuelCell Energy securities during the Class Period may, no later than November 10, 2026, seek to be appointed as a lead plaintiff representative of the class.

If you are a FuelCell Energy investor and would like to learn more about this action, or to discuss your rights, please contact Berger Montague: Andrew Abramowitz at [email protected] or (215) 875-3015 or Caitlin Adorni at [email protected] or (267) 764-4865 or visit our website.

About Berger Montague

Berger Montague is one of the nation's preeminent law firms focusing on complex civil litigation, class actions, and mass torts in federal and state courts throughout the United States. With more than $2.4 billion in 2025 post-trial judgments alone, the Firm is a leader in the fields of complex litigation, antitrust, consumer protection, defective products, environmental law, employment law, securities, and whistleblower cases, among many other practice areas. For over 55 years, Berger Montague has played leading roles in precedent-setting cases and has recovered over $50 billion for its clients and the classes they have represented. Berger Montague is headquartered in Philadelphia and has offices in Chicago; Malvern, PA; Minneapolis; San Diego; San Francisco; Toronto, Canada; Washington, D.C., and Wilmington, DE.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/314352

Source: Berger Montague

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SAN FRANCISCO, Sept. 08, 2026 (GLOBE NEWSWIRE) -- On September 2, 2026, investors in FuelCell Energy, Inc. (NASDAQ: FCEL) saw the price of their shares fall $2.68 (-15.7%) after the company reported a massive year-over-year Q3 gross loss, mostly attributable to its agreement to supply its products to Fit Energy.

The revelations have prompted national shareholders rights firm Hagens Berman to open an investigation into whether FuelCell has been sufficiently transparent about the economics of its Fit Energy and, if not, whether the company may have violated the U.S. securities laws.

The firm encourages FuelCell investors who suffered substantial losses to submit your losses now. Persons with knowledge who may be able to assist the investigation are invited to contact the firm’s attorneys.

Visit: www.hbsslaw.com/cases/fcel
Direct Contact Email: [email protected]
Firm Telephone: 844-916-0895

FuelCell Energy (FCEL) Investigation

On June 23, 2026, FuelCell announced that it and Fit Energy entered into a capital equipment purchase agreement (“CEPA”) under which Fit would purchase FuelCell’s carbonate fuel cell block systems whose total aggregate generating capacity was up to 380 megawatts (“MW”) across four phases.

CEO Jason Few said, “[t]his agreement further validates our decision to scale our operations to 500 MW, preserving our ability to serve a broad and growing pipeline of customers.”

Then, on or about July 7, 2026 (three weeks before its quarter ended on July 31, 2026), FuelCell issued about 12 million shares at $21 per share. While the offering documents disclosed the structure and terms under the CEPA, they may not have been sufficiently transparent about financial pressures already occurring.

Investors learned more on September 2, 2026, when FuelCell reported a Q3 2026 gross loss of $24.5 million compared to the year earlier quarter gross loss of $5.1 million. The company blamed the 380% increase on $17 million of charges “recorded in connection with Phase 0 of our capital equipment purchase agreement, or CEPA with Fit Energy, due to the fact that our current product costs and manufacturing overhead exceed the contractual pricing established under that agreement.”

The market swiftly reacted, sending the price of FuelCell shares down $2.68 (-15.7%) to close at $14.40, about 31% lower than the offering price.

“We’re focused on whether FuelCell may have misled investors about its product costs and overhead, and if so, whether there may be an adverse impact on Fit Energy’s decisions to proceed with the remaining phases of the CEPA,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation.

If you invested in FuelCell and have substantial losses, or have knowledge that will assist the firm’s investigation, submit your losses now.

Whistleblowers: Persons with non-public information regarding FuelCell should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

Attorney Advertising. Prior results do not guarantee a similar outcome in any future case.

Contact: Hagens Berman, Reed Kathrein, 715 Hearst Avenue, Suite 300, Berkeley, CA 94710, 844-916-0895, [email protected]

Key Takeaways FCEL is shifting its data center focus from a 10 GW proposal pipeline toward firm customer commitments.FuelCell targets a 100 MW annualized production rate in October 2026 as Torrington capacity ramps.FCEL targets positive adjusted EBITDA in fiscal Q4 2027, requiring at least 100 MW of production volume. FuelCell Energy, Inc. (FCEL - Free Report) used its fiscal third-quarter 2026 earnings call to emphasize movement from a large data center pipeline toward customer commitments, while acknowledging pressure from current manufacturing economics.

President, CEO and director Jason Few and executive vice president, CFO and treasurer Michael Bishop tied progress to backlog conversion, production scaling and cost reduction, with a new adjusted EBITDA profitability target providing a clearer execution benchmark.

Fiscal third-quarter revenues were $33 million, below the Zacks Consensus Estimate of $39.1 million. The loss of 64 cents per share was wider than the Zacks Consensus Estimate of a 32-cent loss.

FCEL Converts Data Center Demand Into CommitmentsFuelCell’s CEO said fiscal 2026 year-to-date proposals reached roughly 10 gigawatts, with data centers representing about 97% of the fiscal third-quarter pipeline.

The Fit Energy agreement covers up to 380 MW across four phases. Few said the initial 30 MW is committed, while the remaining 350 MW is awarded capacity backlog subject to Fit Energy elections. Bishop stressed that awarded capacity is not firm contracted backlog.

Few also highlighted a post-quarter 75 MW capacity reservation with a major colocation data center operator in Texas and said he anticipates follow-on opportunities with the same customer.

FuelCell Scales Torrington Toward 100 MWBishop stated FuelCell operated at an annualized production rate of about 37 MW and is targeting 100 MW in October 2026.

In Q&A, FuelCell’s CFO said the ramp includes added labor and supply-chain scaling. Bishop said FuelCell had added another factory shift and expected a meaningful production increase during the fiscal fourth quarter.

He also informed that the broader Torrington expansion targets 500 MW of annualized capacity by June 2028, with an estimated $200 million to $275 million requirement that is fully funded.

FCEL Maps a Path to Positive Adjusted EBITDABishop said FuelCell now targets positive adjusted EBITDA in the fourth quarter of fiscal 2027, dependent on backlog conversion, customer schedules and manufacturing cost reductions.

A B. Riley Securities analyst asked what production level supports the target. Bishop said at least 100 MW of volume would be needed, with customer demand influencing the ultimate level.

A Canaccord Genuity analyst questioned reliance on customer decisions. Bishop pointed to the broader 10 GW pipeline and said FuelCell has a defined cost-reduction curve under execution.

FuelCell Explains Phase 0 Economics in Q&AFiscal third-quarter included a $24.5 million gross loss, including $17 million of charges tied to Fit Energy Phase 0 inventory and firm purchase commitments as current costs exceeded contractual pricing.

A Jefferies analyst asked about the timing of those costs and revenues. Bishop said Phase 0 revenues should begin in the fiscal fourth quarter and continue into fiscal 2027.

FCEL Broadens Partnerships Beyond Data CentersFew said the first two carbonate fuel cell carbon capture modules were delivered to ExxonMobil's Rotterdam complex. The demonstration targets more than 90% carbon capture while producing power, thermal energy and hydrogen.

Few also discussed a memorandum of understanding with Siemens intended to support faster, lower-cost deployment of projects above 100 MW through integrated electrical balance-of-plant systems.

He said completion of the 42-module Gyeonggi Green Energy repowering program in South Korea demonstrated FuelCell's ability to execute utility-scale international repowering work.

FuelCell Keeps Execution at the CenterFew emphasized conversion and delivery rather than pipeline size alone. He identified closing transactions, disciplined manufacturing expansion and customer execution as the company's central priorities.

Bishop added measurable milestones through the October 2026 production target and the fiscal fourth-quarter 2027 adjusted EBITDA objective.

He also reiterated that awarded capacity backlog is not firm contracted backlog, keeping conversion into definitive agreements as a key operating marker as capacity expands.

FCEL Shows Mixed Zacks SignalsFCEL carries a Zacks Rank #3 (Hold). The Zacks framework reserves its strongest combinations for Zacks Rank #1 (Strong Buy) or 2 (Buy) stocks paired with A or B Style Scores. You can see the complete list of today’s Zacks #1 Rank stocks here.

FCEL’s Growth Score of B and Momentum Score of B are favorable within their styles, while the Value Score of F and VGM Score of D weaken the combined profile. The Zacks Rank can change as earnings estimates are revised after the just-reported results.

FuelCell Energy, Inc. (NASDAQ:FCEL) will release its third quarter earnings report before the opening bell on Wednesday, Sept. 2.

Analysts expect the Danbury, Connecticut-based company to report a quarterly loss of 39 cents per share, versus a loss of $1.02 per share in the year-ago period. The consensus estimate for FuelCell Energy’s quarterly revenue is $38.82 million. It reported $46.74 million last year, according to Benzinga Pro.

On July 9, FuelCell Energy announced a collaboration with Siemens to accelerate the growth of fuel cell-based power generation.

Shares of FuelCell Energy fell 3% to close at $17.23 on Monday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

UBS analyst Manav Gupta upgraded the stock from Neutral to Buy and raised the price target from $22 to $27 on July 14, 2026. This analyst has an accuracy rate of 74%. B. Riley Securities analyst Ryan Pfingst upgraded the stock from Neutral to Buy and increased the price target from $13 to $32 on June 29, 2026. This analyst has an accuracy rate of 62%. Wells Fargo analyst Praneeth Satish maintained an Underweight rating and raised the price target from $6 to $8 on June 16, 2026. This analyst has an accuracy rate of 57%. Jefferies analyst Laurance Alexander maintained a Hold rating and boosted the price target from $7.2 to $16 on June 10, 2026. This analyst has an accuracy rate of 74%. Canaccord Genuity analyst George Gianarikas upgraded the stock from Hold to Buy and increased the price target from $12 to $30 on June 9, 2026. This analyst has an accuracy rate of 59%. Trending

Considering buying FCEL stock? Here’s what analysts think:

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A congressional disclosure just turned one fuel cell stock into the morning's biggest mover, but the filer's cost basis tells a very different story than today's price tag.

Shares of Bloom Energy (NYSE:BE) are up 5% to $214.98 in early Tuesday trading, and FuelCell Energy (NASDAQ:FCEL) stock is up 4% to $19.45. The Global X Hydrogen ETF (NASDAQ:HYDR) sits unchanged at $42.34 while two of its largest U.S. components rally.

That’s the framing contrast that matters this morning. Yesterday the same fund traded roughly flat because its components moved in different directions, and today it’s flat again while Bloom Energy stock and FuelCell Energy stock move the same way. Either way, the fund reports almost nothing about what’s happening underneath it.

Through Monday’s close, Bloom Energy stock was up 135% year to date, FuelCell Energy stock was up 157%, and the Global X Hydrogen ETF was up 34%. This morning’s move sits on top of an already extended year for the two rallying names, which matters for how a reader should size a fresh position.

Congressional Disclosure Turns Bloom Into the Trade A congressional financial disclosure filed Monday, August 24 revealed a new Bloom Energy position in Nancy Pelosi’s household. The primary filing shows 15,000 Bloom Energy Class A common shares acquired in two transactions dated July 24 and July 28, plus 200 call options carrying a $100 strike and a June 17, 2027 expiration. Under congressional disclosure value ranges, the combined transactions were reported as roughly $4.25 million to $14.5 million. The filing marks these purchases with the “SP” owner code, indicating they belong to Pelosi’s spouse rather than to her personally. Some outlets reported 100 Bloom Energy call options, while the primary filing indicates 200, and that primary filing is the source used here.

The buying itself is dated to late July, so Monday’s filing is what’s new, not the trades. That distinction matters because Bloom Energy stock trades meaningfully higher today than on those late-July purchase dates, so a reader buying on the disclosure isn’t entering at the filer’s cost basis.

Why the Same News Moves Bloom More Than the Rest Bloom Energy is the name in this cluster with an already-established data center power business, and a large new position read as confirmation of a thesis the market was already trading. Bloom Energy sells solid oxide fuel cell systems that supply onsite power to data centers and other large commercial customers, which is why AI power demand has become the central pillar of its investment case.

Bloom Energy’s Q2 2026 revenue reached a record $1.07 billion, up 166% year over year and above $1 billion for the first time, with non-GAAP gross margin of 34.3%. Management raised full-year 2026 revenue guidance to a range of $3.9 billion to $4.2 billion, which builds on backlog conversion and reserved manufacturing capacity.

The read-through goes beyond Bloom Energy itself, since the same data center buildout has to be powered, cooled, and networked by somebody (we profiled seven of those suppliers in a free report here: 7 Stocks Powering the AI Boom (That Aren’t Chipmakers)).

The same disclosure also included Intel (NASDAQ:INTC | INTC Price Prediction) shares and Intel call options. Intel is an established Bloom Energy customer for data center power systems, which is what links the two positions in a single filing: one bet on the chips running AI workloads, the other on the electricity those workloads consume.

FuelCell Energy carries its own data center pipeline narrative, yet doesn’t have a dedicated catalyst of its own today, so FuelCell Energy stock is riding sympathy rather than a name-specific event. Plug Power (NASDAQ:PLUG) belongs to the same hydrogen and fuel-cell cluster and only got a 2% lift to $2.22, which is part of why the sector ETF isn’t moving strongly in a single direction.

Position Sizing and What Comes Next A disclosure isn’t a thesis, and congressional trades are reported weeks after they happen. A reader buying Bloom Energy stock on this news is buying at a price the filer didn’t pay, and Bloom Energy stock has run hard enough that a large amount of AI power adoption is embedded in the current multiple.

That argues for a smaller position size than the headline enthusiasm suggests. FuelCell Energy stock carries the additional risk of moving purely on sympathy, which tends to reverse when the catalyst name cools, so any exposure taken today should size for a possible round trip.

Traders can watch for whether Bloom Energy stock holds its early gain into the regular session and whether FuelCell Energy stock follows through once the initial headline is fully digested. The Global X Hydrogen ETF is a comparatively blunt instrument here, since its international basket dilutes the U.S. names driving today’s move.

Contact [email protected] for any questions or corrections.

Patient FuelCell Energy (FCEL 8.56%) investors have been rewarded thus far this year, with the power plant fuel cell specialist's stock rising more than 187% in 2026 and over 275% in the past 12 months.

Shareholders received more good news this week as FuelCell announced a collaboration and memorandum of understanding with Siemens (SIEGY 0.15%). Through this partnership, Siemens will support the rapid deployment of commercial projects involving molten carbonate fuel cells designed and produced by FuelCell Energy.

Image source: Getty Images.

This is a strong signal as to where FuelCell is heading. Siemens' electrical infrastructure expertise, sheer size, and capabilities will enable the company to scale at a new level.

FuelCell has a large backlog of projects totaling $1.14 billion as of the company's second-quarter 2026 earnings report. The sales pipeline grew 267% sequentially between Q1 and Q2 of 2026, signaling that the company has growing demand.

Today's Change

(

-8.56

%) $

-1.97

Current Price

$

21.03

FuelCell remains a higher-risk investment, with a beta of 2.3; investors in the company need a stomach for volatility. Yet, as shares trade well below their 52-week high of $37.88, FuelCell looks like a rocket ship poised to launch into the AI power crisis.

Investors are also concerned about dilution, as FuelCell recently announced an offering of new common stock worth about $225 million. The short-term pain seems relatively insignificant given the opportunity FuelCell has in the intermediate and long terms. Data center power demand is expected to double in the next year.

On-site generation is the future for data centers that desperately need reliable power. Successful execution and scaling of FuelCell's technology could lead to serious recurring revenue for years to come.

If you are OK with short-term share price volatility, you might want to give this infrastructure stock a closer look.

Catie Hogan has positions in FuelCell Energy. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Collaboration advances on-site energy deployment through aligned electrical infrastructure and fuel cell technologies July 09, 2026 07:00 ET  | Source: FuelCell Energy, Inc.; Siemens

WENDELL, N.C. and DANBURY, Conn., July 09, 2026 (GLOBE NEWSWIRE) -- Siemens and FuelCell Energy, Inc. (Nasdaq: FCEL) have announced a collaboration to accelerate the growth of fuel cell-based power generation. The agreement aligns electrical design and supply with fuel cell technologies to support deployment of distributed energy systems.

As part of the collaboration, formalized in a memorandum of understanding, Siemens will design and supply electrical balance of plant (EBOP) systems for fuel cell installations, supporting the rapid deployment of 100+ MW commercial projects.

Siemens’ expertise in EBOP design and integration supports its position as a premier provider of electrical infrastructure for fuel cell-based power solutions. A leading turnkey fuel cell power producer, FuelCell Energy designs, manufactures, operates, and services fuel cell power plants for a range of mission-critical applications globally, including data centers, industrial facilities, utilities, and other distributed generation customers.

The work includes joint project development spanning engineering, integration, and delivery of distributed energy systems incorporating fuel cells, battery energy storage, microgrid controls, and medium-voltage electrical equipment. The companies will evaluate opportunities to scale and deploy solutions that improve timelines, reduce costs, and increase deployments.

“The rapid growth of electrification and distributed energy is redefining how power must be delivered at scale,” said Kevin Brown, Head of Sustainability Solutions, Electrification and Automation, at Siemens Smart Infrastructure USA. “By combining FuelCell Energy’s fuel cell technology with Siemens’ electrical infrastructure, service, and integration expertise, we can deliver scalable, on-site power solutions for energy-intensive applications – helping customers deploy power faster, scale with confidence, and advance their transition to lower-emission, more resilient energy systems.”

FuelCell Energy’s Chief Product and Technology Officer, Shankar Achanta, said, “This collaboration with Siemens enables us to deliver what the market has been asking for—bringing generation and electrical infrastructure together into a single, scalable solution. For customers, that means reliable, on-site power that is faster to deploy and built to scale, beginning with the data centers driving today’s demand.”

Additional efforts include pilot projects and solution development initiatives to assess new applications for fuel cell systems and electrical infrastructure, including medium-voltage DC power delivery and modular electrical systems. The agreement defines a path to transition successful pilot outcomes into full-scale commercial deployments, including the identification of target markets and deployment approaches.

Press Contacts

About Siemens

Siemens Corporation is a U.S. subsidiary of Siemens AG, a leading technology company focused on industry, infrastructure, transport, and healthcare. The company’s purpose is to create technology to transform the everyday, for everyone. By combining the real and the digital worlds, Siemens empowers customers to accelerate their digital and sustainability transformations, making factories more efficient, cities more livable, and transportation more sustainable. A leader in industrial AI, Siemens leverages its deep domain know-how to apply AI – including generative AI – to real-world applications, making AI accessible and impactful for customers across diverse industries. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a leading global medical technology provider pioneering breakthroughs in healthcare. For everyone. Everywhere. Sustainably.

In fiscal year 2025, which ended on September 30, 2025, the Siemens Group USA generated revenue of $24.427 billion with 25 manufacturing sites across the U.S. and more than 50,000 employees serving customers in all 50 states and Puerto Rico.

Siemens Smart Infrastructure (SI) is shaping the market for intelligent, adaptive infrastructure for today and the future. It addresses the pressing challenges of urbanization and climate change by connecting energy systems, buildings, and industries. SI provides customers with a comprehensive end-to-end portfolio from a single source – with products, systems, solutions, and services from the point of power generation all the way to consumption. With an increasingly digitalized ecosystem, it helps customers thrive and communities progress while contributing toward protecting the planet. To protect this journey, we foster holistic cybersecurity to ensure secure and reliable operations. Siemens Smart Infrastructure has its global headquarters in Zug, Switzerland, and its U.S. corporate headquarters in Peachtree Corners, Georgia, USA. As of September 30, 2025, the business had around 79,400 employees worldwide.

About FuelCell Energy 

FuelCell Energy, Inc. (NASDAQ: FCEL) is an American clean energy technology company delivering continuous, scalable baseload power for mission-critical applications globally. The company’s fuel cell systems generate electricity directly at the point of use, enabling reliable, low-emissions power for data centers, industrial facilities, utilities, and distributed generation customers. FuelCell Energy delivers commercially proven, modular, utility-scale systems—backed by global fuel cell deployments approaching one gigawatt. Learn more at www.FuelCellEnergy.com. 

Key Takeaways FCEL is drawing investor interest as AI data centers increase demand for steady on-site power.FCEL's proposal pipeline reached about 4 GW, with 89% tied to potential data-center customers.FCEL plans to lift Torrington capacity to 500 MW as its 12.5-MW modular block supports growth. FuelCell Energy (FCEL - Free Report) has been one of the strongest clean-energy stocks recently, with shares climbing nearly 300% in the past three months. After such a sharp move, investors may wonder whether the opportunity has already passed. However, FCEL’s rally is not based only on short-term excitement. The company is gaining attention because artificial intelligence (AI) data centers need huge amounts of steady electricity, and existing power grids often cannot supply that power quickly enough. FuelCell Energy offers on-site fuel-cell systems that can provide continuous power where it is needed. This gives FCEL a clearer growth story, especially as investors also watch Bloom Energy (BE - Free Report) and Plug Power (PLUG - Free Report) in the clean-power and hydrogen space.

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AI Data Centers Are Driving FCEL’s Opportunity

AI data centers run powerful computers around the clock. These facilities cannot afford power shortages or long delays in getting electricity. FuelCell Energy’s systems are designed to provide reliable baseload power directly at customer sites, helping reduce dependence on slow grid upgrades, new transmission lines or long utility interconnection timelines.

This is why FCEL’s business pipeline has expanded sharply. The company’s submitted proposal pipeline reached about 4 gigawatts in the fiscal second quarter, up more than 250% from the prior quarter. Around 89% of that pipeline is tied to potential data-center customers. That means most of FCEL’s current growth opportunity is linked to AI and digital infrastructure. Bloom Energy is also benefiting from the same theme, as BE markets on-site power systems for data centers and mission-critical facilities. Plug Power, meanwhile, is pursuing hydrogen and fuel-cell applications across several markets. While Bloom Energy and Plug Power are larger clean-energy names, FuelCell Energy is building a focused story around AI-driven demand for dependable electricity.

Image Source: FuelCell Energy

Modular Product and Manufacturing Scale Add Support

FuelCell Energy has introduced a standardized 12.5-megawatt (“MW”) FuelCell Energy Block. For a layman, this works like a power building block. A customer can begin with one block and add more as electricity demand increases. This is important for data centers because they often want to grow in phases instead of building all their power capacity at once.

The company says the 12.5-MW block uses its proven 1.25-MW modules and is designed to reduce repeat engineering and permitting work. That could make projects easier to plan and faster to deploy. FuelCell Energy is also expanding its Torrington, CT, manufacturing facility. Management now plans to raise annual production capacity to 500 MW, compared with the earlier 350-MW target. The company has said it will expand capacity in line with customer demand, contracted backlog and capital support. This disciplined approach matters because investors want growth, but not reckless spending. Bloom Energy and Plug Power also need strong execution to capture clean-energy demand, so FCEL’s ability to convert proposals into firm contracts will be critical.

Partnerships and Earnings Estimates Strengthen the Case for FCEL

FCEL’s story is not limited to data centers. The company continues to deliver fuel-cell modules to Gyeonggi Green Energy in South Korea and is involved in work tied to the AI Daegu Data Center opportunity. These projects support its international clean-energy presence. Another important opportunity is carbon capture. FuelCell Energy is working with ExxonMobil on technology that can capture carbon while producing power. Two carbon-capture modules were sent to Rotterdam for delivery to ExxonMobil’s facility. If this technology proves successful, FCEL could gain another long-term market beyond power generation.

Apart from price performance, FCEL’s earnings outlook is also improving. The Zacks Consensus Estimate for fiscal 2026 earnings implies a 59% improvement, while the estimate for fiscal 2027 points to another 27% improvement. This does not mean FCEL is already highly profitable, but it suggests analysts expect losses to narrow as the business scales. FuelCell Energy also ended the latest quarter with nearly $441 million in total cash, cash equivalents and restricted cash. That gives the company flexibility to support manufacturing expansion and commercial activity. Management has indicated that reaching a consistent annual production of at least 100 MW is important for moving toward positive adjusted EBITDA. Simply put, FCEL needs more volume to spread costs across a larger revenue base.

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Conclusion

FuelCell Energy is not a risk-free stock. The company still needs to turn its large proposal pipeline into signed contracts, grow backlog, improve profitability and compete with Bloom Energy and Plug Power. However, the stock’s sharp rally looks supported by real growth themes, including AI data-center power demand, modular fuel-cell products, manufacturing expansion, international projects, carbon-capture potential and improving earnings estimates. For investors who understand the risks, FCEL may still offer upside even after its near-quadruple move in three months. FCEL stock is currently a Zacks Rank #2 (Buy).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

FuelCell stock is challenging resistance. Why are FCEL shares at highs? The Fit Energy DealThe deal represents a major step in FuelCell’s pivot toward the AI data center power market, a segment where the company says more than 80% of its 1.5-gigawatt proposal pipeline is now concentrated.

The EXIM FinancingCritically, the financing is structured as a loan guarantee through EXIM’s program, making it non-dilutive—providing capital without a share sale, which had been a persistent concern among investors.

Analyst Consensus & Recent ActionsThe stock carries a Hold rating with an average price target of $22.00. Recent analyst moves include:

B. Riley Securities: Upgraded to Buy (Raises Target to $32.00) (June 29) UBS: Neutral (Raises Target to $22.00) (June 26) Jefferies: Upgraded to Buy (Raises Target to $24.00) (June 26) FuelCell Shares Shoot HigherFCEL Price Action: At the time of publication, FuelCell shares are trading 3.42% higher at $37.24, according to data from Benzinga Pro.

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FuelCell Energy stock is charging ahead with explosive momentum. Why are FCEL shares rallying? Thursday’s Deal With Fit Energy Set The StageIn the prior session, FuelCell Energy revealed a new commercial arrangement with Fit Energy that covers as much as 380 megawatts of clean on-site power for data center customers. The plan uses the company’s large-scale fuel cell systems to supply baseload power directly at the facilities.

The agreement includes an upfront deposit tied to an initial 30 megawatts that are expected to begin delivery later this year. Fit Energy can also earn warrants based on future deployment milestones up to the full 380 megawatts, which ties long term value creation to successful project progress.

Friday’s Move Comes From A Fresh Analyst UpgradeOn top of yesterday’s arrangement, Jefferies analyst Dushyant Ailani upgraded FuelCell Energy from Hold to Buy and raised the price target from $16 to $24. The upgrade arrives immediately after the Fit Energy announcement, reinforcing the idea that the agreement could play a meaningful role in the company’s growth outlook.

Critical Levels To Watch For FCEL StockMomentum indicators support the move. MACD is above its signal line and the histogram is positive, which signals that buying pressure is improving compared with the previous downswing. When MACD stays above its signal line, it often means buyers are absorbing pullbacks quickly and maintaining control of the trend.

Key Resistance: $27.50 — This level sits near the 52-week high zone and can act as a ceiling where rallies may slow. FCEL Shares Are FlyingFCEL Price Action: FuelCell shares were up 25.50% at $24.66 at the time of publication on Friday, according to Benzinga Pro.

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Initial 30 MW delivery is expected to begin this year June 24, 2026 07:00 ET  | Source: FuelCell Energy, Inc.

DANBURY, Conn. and BOCA RATON, Fla., June 24, 2026 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. (Nasdaq: FCEL), a clean energy technology company that manufactures utility scale power solutions, and Fit Energy USA LP (“Fit Energy”), a developer of reliable power solutions to support advanced computing infrastructure and artificial intelligence, today announced a strategic agreement for up to 380 megawatts (MW) of clean, baseload on-site power for data centers using FuelCell Energy’s utility-scale fuel cell technology. The agreement includes an immediate deposit for an initial 30 MW of power scheduled to begin delivery later this year.

“We are pleased to partner with Fit Energy on its development plans. We’ve engaged with a diverse range of prospective customers across the digital infrastructure landscape, and Fit Energy has distinguished itself through its commitment to ‘energy as a service’ power solutions that support both communities and the environment,” said Jason Few, President and CEO of FuelCell Energy. He added, “This agreement further validates our decision to scale our operations to 500 MW, preserving our ability to serve a broad and growing pipeline of customers.”

Joel Leonoff, CEO of Fit Energy, added, “Today’s announcement marks a critical step in building the power foundation required for the next generation of AI infrastructure. FuelCell Energy’s technology aligns with our growth objectives and our goal of delivering behind-the-meter power solutions to data centers at gigawatt scale.”

Under the arrangement, Fit Energy will be eligible to receive warrants tied to future deployment milestones of up to 380 MW. The warrant structure is designed to align long-term value creation with successful project execution and customer deployment.

Canaccord Genuity served as a financial advisor to FuelCell Energy Inc. on certain aspects of this transaction.

About Fit Energy

Fit Energy is an energy infrastructure company focused on long-term ownership of generation assets formed to deliver near-term, scaled energy solutions for the digital economy. The platform is designed to serve large power requirements through a hybrid model supporting behind-the-meter, microgrid and grid-connected structures ranging from fuel cell technology to natural gas turbines. Learn more about Fit Energy at www.Fitenergygroup.com.

About FuelCell Energy

FuelCell Energy, Inc. (Nasdaq: FCEL) is an American clean energy technology company delivering continuous, scalable baseload power for mission critical applications globally. The company’s fuel cell systems generate electricity directly at the point of use, enabling reliable, low emissions power for data centers, industrial facilities, utilities, and distributed generation customers. FuelCell Energy delivers commercially proven, modular, utility-scale systems—backed by global fuel cell deployments approaching one gigawatt. Learn more at www.fuelcellenergy.com.

Cautionary Language

This news release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 regarding future events or our future financial performance that involve certain contingencies and uncertainties. The forward-looking statements include, without limitation, statements with respect to the Company’s anticipated financial results and statements regarding the Company’s plans and expectations regarding the continuing development, commercialization and financing of its current and future fuel cell technologies, the Company’s business plans and strategies, the Company’s plan to reduce operating costs, the capabilities of the Company’s products, the Company’s potential sales pipeline, opportunities, and partners, and the markets in which the Company expects to operate. Projected and estimated numbers contained herein are not forecasts and may not reflect actual results. These forward-looking statements are not guarantees of future performance, and all forward-looking statements are subject to risks and uncertainties, known and unknown, that could cause actual results and future events to differ materially from those projected. Factors that could cause such a difference include, without limitation: general risks associated with product development and manufacturing; general economic conditions; changes in interest rates, which may impact project financing; supply chain disruptions; changes in the utility regulatory environment; changes in the utility industry and the markets for distributed generation, distributed hydrogen, and fuel cell power plants configured for carbon capture or carbon separation; potential volatility of commodity prices that may adversely affect our projects; availability of government subsidies and economic incentives for alternative energy technologies; our ability to remain in compliance with U.S. federal and state and foreign government laws and regulations; our ability to maintain compliance with the listing rules of The Nasdaq Stock Market; rapid technological change; competition; the risk that our bid awards will not convert to contracts or that our contracts will not convert to revenue; market acceptance of our products; changes in accounting policies or practices adopted voluntarily or as required by accounting principles generally accepted in the United States; factors affecting our liquidity position and financial condition; government appropriations; the ability of the government and third parties to terminate their development contracts at any time; the ability of the government to exercise “march-in” rights with respect to certain of our patents; our ability to successfully market and sell our products internationally; delays in our timeline for bringing commercially viable products to market; our ability to develop additional commercially viable products in the future; our ability to implement our strategy; our ability to reduce our levelized cost of energy and deliver on our cost reduction strategy generally; our ability to protect our intellectual property; litigation and other proceedings; the risk that commercialization of our new products will not occur when anticipated or, if it does, that we will not have adequate capacity to satisfy demand; our need for and the availability of additional financing; our ability to generate positive cash flow from operations; our ability to service our long-term debt; our ability to increase the output and longevity of our platforms and to meet the performance requirements of our contracts; our ability to expand our customer base and maintain relationships with our largest customers and strategic business allies; and our ability to reduce operating costs, as well as other risks set forth in the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K for the fiscal year ended October 31, 2025. The forward-looking statements contained herein speak only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement contained herein to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which any such statement is based.

FuelCell Energy Contacts
Media Relations: [email protected]
Investor Relations: [email protected]

Fit Energy Media Contact
Zenergy Communications
[email protected]