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FuelCell Energy | 8-K: Received Written Notice from Exxonmobil Technology and Engineering Company

SEC announcement ·  Mar 15 05:05
Summary by Futu AI
FuelCell Energy, Inc. has announced that it received a notice from ExxonMobil Technology and Engineering Company (EMTEC) on March 8, 2024, expressing EMTEC's intention to negotiate a follow-on commercial agreement for the commercialization of Generation 2 Technology. This technology was developed under a Joint Development Agreement (JDA) initiated on November 5, 2019, and subsequently amended several times, with the latest amendment on August 25, 2023. The current JDA is set to expire on March 31, 2024, and discussions are underway to potentially extend the JDA and include new commercial terms. However, FuelCell Energy has indicated that there is no certainty that an extension of the JDA, a new commercial agreement, or the continuation of the pilot project at the Esso Nederland B.V. Rotterdam Manufacturing Complex will be realized if no agreement is reached.
FuelCell Energy, Inc. has announced that it received a notice from ExxonMobil Technology and Engineering Company (EMTEC) on March 8, 2024, expressing EMTEC's intention to negotiate a follow-on commercial agreement for the commercialization of Generation 2 Technology. This technology was developed under a Joint Development Agreement (JDA) initiated on November 5, 2019, and subsequently amended several times, with the latest amendment on August 25, 2023. The current JDA is set to expire on March 31, 2024, and discussions are underway to potentially extend the JDA and include new commercial terms. However, FuelCell Energy has indicated that there is no certainty that an extension of the JDA, a new commercial agreement, or the continuation of the pilot project at the Esso Nederland B.V. Rotterdam Manufacturing Complex will be realized if no agreement is reached.
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