FuelCell Energy’s stock went into free fall: Within a few days, the company’s shares had lost half of their value. Management didn’t even see the need to comment on the price drop for some time. On Dec.1, 2016, the Canadian business finally broke its silence and announced in a business update that it was letting go staff to adapt to new and lower projections of annual megawatt power closer to 25 than 50 MW. The move is reported to cut costs by USD 6 million each year.
FuelCell Energy specializes in large-scale projects using fuel-cell technology to generate clean energy (electricity and heat). It is also leading in technologies such as CO2 capture and storage. The company recently secured a contract award by the American Department of Energy for a scalable CO2 capturing project (e.g., for coal-fired power plants) potentially worth around US$ 24 million. The system used