FuelCell Energy, Inc. has expanded its lease agreement with 52nd Street Business Centre LP for its subsidiary, Versa Power Systems Ltd. The Lease Expansion and Amending Agreement, effective as of August 2, 2024, extends the lease term for the Second Additional Premises located at 4800 – 52nd Street SE, Calgary, Alberta, Canada, until September 30, 2028. This space, which is approximately 18,627 square feet, is in addition to the Original Premises and the Additional Premises previously leased by Versa. The Second Additional Premises are utilized for office, research and development, and manufacturing of the company's solid oxide platform. Under the new terms, Versa will pay an initial annual base rent of about $149,000 CAD, with annual increases and will cover its share of operating expenses and taxes. The lease...Show More

FuelCell Energy, Inc. has expanded its lease agreement with 52nd Street Business Centre LP for its subsidiary, Versa Power Systems Ltd. The Lease Expansion and Amending Agreement, effective as of August 2, 2024, extends the lease term for the Second Additional Premises located at 4800 – 52nd Street SE, Calgary, Alberta, Canada, until September 30, 2028. This space, which is approximately 18,627 square feet, is in addition to the Original Premises and the Additional Premises previously leased by Versa. The Second Additional Premises are utilized for office, research and development, and manufacturing of the company's solid oxide platform. Under the new terms, Versa will pay an initial annual base rent of about $149,000 CAD, with annual increases and will cover its share of operating expenses and taxes. The lease agreement includes a five-month base rent abatement starting from the new lease term for the Second Additional Premises, provided there is no Event of Default. The details of the Lease Expansion and Amendment will be included in the company's upcoming Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2024.