FuelCell Energy, a leader in clean energy technology, has released its 2023 Annual Report and Form 10-K, highlighting a year of technological innovation and strategic partnerships. Despite not meeting its 2023 revenue target, the company reported $123.4 million in revenue and a significant backlog of $1.03 billion as of October 31, 2023. FuelCell Energy's global presence includes customers across Asia, Europe, and North America, with over 600 employees and a strong commitment to low-to-zero carbon energy solutions. The company's patented technology has generated millions of MWhs, and it continues to invest in research and development, including a collaboration with IBM to use AI for extending fuel cell stack life. Notable projects include the 14-megawatt Derby fuel cell park in Connecticut, a long-term...Show More

FuelCell Energy, a leader in clean energy technology, has released its 2023 Annual Report and Form 10-K, highlighting a year of technological innovation and strategic partnerships. Despite not meeting its 2023 revenue target, the company reported $123.4 million in revenue and a significant backlog of $1.03 billion as of October 31, 2023. FuelCell Energy's global presence includes customers across Asia, Europe, and North America, with over 600 employees and a strong commitment to low-to-zero carbon energy solutions. The company's patented technology has generated millions of MWhs, and it continues to invest in research and development, including a collaboration with IBM to use AI for extending fuel cell stack life. Notable projects include the 14-megawatt Derby fuel cell park in Connecticut, a long-term service agreement with Noeul Green Energy in Korea, and a pilot carbon capture technology project with Exxon Mobil in Rotterdam. The company is also involved in various initiatives to produce hydrogen using clean energy sources and is working with the U.S. Department of State to deploy solid oxide electrolysis in Ukraine. FuelCell Energy ended the fiscal year with a strong financial position, with over $400 million in cash and investments, and is focused on commercializing its technologies, expanding global sales, and maintaining a strong balance sheet for 2024.