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FuelCell Energy, Inc. (FCEL) Lists Some of Their Recent Accomplishments

FuelCell Energy, Inc., one of the leading manufacturers of high efficiency, ultra-clean power plants using renewable and other readily available fuels for commercial, industrial, government and utility customers, recently released a list of their latest accomplishments. According to the latest 8k dated March 5th, 2008 the company had $29 million in orders for the first quarter, the highest ever in FuelCell Energy’s history. “The repeat order flow in Asia and California and expanding production capacity create a strong platform for continued growth,” stated R. Daniel Brdar, Chairman and CEO.

The first quarter product sales and revenues doubled over the prior year’s first quarter, while an increase in product backlog of 131 percent was realized. The company was in-line with the first quarter expectations of net cash used at 15.1 million. The first quarter net loss to common shareholders improved to $19.7 million.

FuelCell Energy has partnerships with major power plant developers, trading companies and power companies around the world. FuelCell is generating power at over 40 locations worldwide. The company continues to receive funding from the US Department of Energy and other government agencies for the development of leading edge technologies such as hybrid fuel cell/turbine generators and solid oxide fuel cells.

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