FuelCell Energy jumps on power agreement with Fit Energy USA
BUZZ-FuelCell Energy jumps on power agreement with Fit Energy USA ** Shares of FuelCell Energy FCEL.O rise 15% to $25.10 premarket
** The renewable power company and Fit Energy USA, a power solutions developer, announce a strategic agreement for up to 380 megawatts of clean, baseload on-site power for data centers, using FCEL's utility-scale fuel cell technology
** Agreement includes an immediate deposit for an initial 30 MW of power, scheduled to begin delivery later this year
** Under the arrangement, Fit Energy will be eligible to receive warrants tied to future deployment milestones of up to 380 MW
** "This agreement further validates our decision to scale our operations to 500 MW, preserving our ability to serve a broad and growing pipeline of customers," says FCEL CEO Jason Few
** Up till last close, stock up 198.5% YTD
(Reporting by Pooja Menon in Bengaluru)
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