FuelCell Energy, Inc. (NASDAQ:FCEL) shares are trading higher Tuesday. The company announced an extension of its ongoing joint development agreement with ExxonMobil Corporation (NYSE:XOM) on Monday.
What To Know:
FuelCell Energy and ExxonMobil Technology and Engineering Company (EMTEC) have agreed to extend their ongoing joint development agreement through March 31, 2024.
The joint development extension enables further development related to manufacturing scale-up and work towards advancing the carbonate fuel cell technology for point source carbon capture applications and joint marketing and sales efforts. The deal extension also allows for performance improvement and cost optimization.
FuelCell Energy will release its third-quarter financial results prior to the market open on Sept. 11 and will host a conference call with investors beginning at 10:00 a.m. ET the same day.
According to estimates from Benzinga Pro, the company is expected to report a loss of 8 cents per share and revenue of $27.72 million for the third quarter.
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FCEL Price Action: According to Benzinga Pro, shares of FCEL are up nearly 8% at $1.44 at the time of publication.
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