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FuelCell Energy (FCEL) shares bounced back on Thursday, climbing toward $25 after the company announced a major collaboration with Siemens Corporation, a U.S. subsidiary of Siemens AG (SMERY). The stock was up 5.72% at $23.83 at the time of publication, according to market data.
The sharp rise helped the stock claw back losses from a steep sell-off just one day prior, when dilution fears sent shares down over 13%.
FuelCell Energy and Siemens formalized their collaboration with a memorandum of understanding. Siemens will design and supply electrical balance-of-plant systems for fuel cell installations. The systems will enable rapid deployment of commercial projects exceeding 100 megawatts.
This collaboration integrates FuelCell Energy's fuel cell technology with Siemens' electrical infrastructure and integration expertise. The company aims to help customers deploy reliable on-site power more quickly, reduce costs, shorten project timelines, and scale distributed energy systems.
The partnership involves joint development, integration, and delivery of distributed energy systems that combine fuel cells, battery energy storage, microgrid controls, and medium-voltage electrical equipment.
FuelCell Energy priced its upsized public offering of 10.71 million shares at $21.00 per share, with gross proceeds of $225 million. The $21.00 price represented a steep 19% discount to Tuesday's closing price of $25.96. The announcement triggered dilution fears, sending the stock down over 13% Wednesday to close at $22.54.
FCEL carries significant weight in several clean energy and hydrogen ETFs, which means any significant inflows or outflows for these funds will likely force automatic buying or selling of the stock. Here are the key ETFs to watch:
Photo: Courtesy FuelCell Energy
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