FuelCell releases 2024 annual report

The 2024 Annual Report provides shareholders with a comprehensive overview of FuelCell (FCEL) Energy’s financial performance, key achievements, strategic initiatives implemented throughout the year, and a look at the current fiscal year ahead. FuelCell Energy added approximately $250 million to its revenue backlog in 2024 by completing utility scale projects and advancing breakthrough, clean energy technology such as our carbon capture platform with ExxonMobil. Additionally, through long-term service agreements with Gyoenggi Green Energy Co., Ltd. and Sacramento Area Sewer District, FuelCell Energy expanded its service lines of business. Heading into 2025, FuelCell Energy remains focused on growth while continuing to streamline its business operations after implementing a global restructuring in late 2024. FuelCell Energy President & CEO Jason Few’s letter to stockholders underscores the Company’s commitment to empowering customers with innovative energy solutions, driving commercial excellence, offering a practical path to manage energy delivery and emissions, and optimizing core business operations. His message highlights FuelCell Energy’s strategic focus on meeting today’s most critical energy challenges while positioning the Company for future growth and continued leadership in the industry. He also shares the Company’s outlook for the 2025 fiscal year, saying, “FuelCell Energy’s solutions fit well into today’s pragmatic ‘all of the above’ energy perspective that sees the value of both renewable and traditional sources of energy to support a stable and secure supply.” Few emphasized the significant opportunities ahead, stating, “Our technology is fuel-flexible, and our commercial platforms are proven.” Few continued, “Our carbonate platform is well positioned to benefit from a focus on and acceptance of natural gas as a low carbon fuel, and it supports our longstanding ethos of helping customers pursue a practical path on the energy transition.”