FuelCell, ExxonMobil Extend Joint Development Agreement Through March 2024
August 28 2023 - 11:11AM
Dow Jones News
By Chris Wack
FuelCell Energy and ExxonMobil Technology and Engineering have
agreed to extend their ongoing joint development agreement through
March 31, 2024.
FuelCell Energy shares were up 5% to $1.45, and are down 66% in
the past 12 months.
The extension enables further development related to
manufacturing scale-up and work toward advancing the carbonate fuel
cell technology for point source carbon capture applications
against a broader set of carbon capture opportunities including
lower carbon intensity flue streams.
The extended development work also will enable continued joint
marketing and sales efforts as well as performance improvement and
cost optimization.
FuelCell Energy and ExxonMobil Technology and Engineering will
continue to work on finalization of engineering and cost elements
of a potential demonstration of the technology with ExxonMobil. A
final investment decision on the demonstration project is expected
later this year.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
August 28, 2023 10:56 ET (14:56 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
FuelCell Energy (NASDAQ:FCEL)
Historical Stock Chart
From Mar 2024 to Apr 2024
FuelCell Energy (NASDAQ:FCEL)
Historical Stock Chart
From Apr 2023 to Apr 2024
