Energy Inc (NASDAQ: FCEL) was a top gainer in yesterday’s trading session, and closed the day with gains of 49.40%. This came after the company announced that, it had started commercial operations of its 2.8-megawatt fuel cell project that is based in the city of Tulare, where California’s wastewater treatment facility is located.
The company announced that, the use of biogas started with its first commercial power shipment that happened in 2003. At the time, the company operated a 250kW system that worked on digester gas at a brewery in Japan. This was followed by a series of innovations in the clean energy space.
The company announced that it continues to focus on improving its technologies in the gas cleaning and purification techniques that it uses for on-site biogas applications. It listed some major advancements as below.
The first one is the dual-fuel capability. The company announced that back in 2003, the Japanese brewery did not generate biogas on weekends. FuelCell created a feature that ensured the molten carbonate fuel cells work on propane when biogas is unavailable. FuelCell announced that now all of its biogas projects now have this technology as a backup.
The company also announced that it made progress in fuel-blending capabilities. At the king county facility, it showed consistency in power output that was desirable for biogas production. The company also announced that it had developed a technology that allowed it to operate on a blend of natural gas and biogas. FuelCell also highlighted progress in gas cleanup stating that, it had developed a proprietary system that has been in operation without any issues since 2016.
Looking at its price action, the stock is gaining upside momentum, and in yesterday’s session, it gapped up to close with gains of 49%. It traded between a low of $1.96 and a high of $2.75 before closing the day at $2.51. Volumes in the day stood at 150.81 million.
About FuelCell Energy Inc
FuelCell is a clean energy solutions provider. It is based in Danbury, Connecticut.