FuelCell Energy and ExxonMobil Continue Carbon Capture Technology Development Project Through March 31, 2024
Portfolio Pulse from Happy Mohamed
FuelCell Energy, Inc. (NASDAQ:FCEL) and ExxonMobil Technology and Engineering Company (EMTEC) have extended their joint development agreement for carbon capture technology through March 31, 2024. The extension will allow further development related to manufacturing scale-up and work towards advancing the carbonate fuel cell technology for carbon capture applications. A final investment decision on a potential demonstration project is expected later this year.
August 28, 2023 | 12:03 pm
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POSITIVE IMPACT
The extension of the joint development agreement with ExxonMobil could potentially boost FuelCell Energy's position in the carbon capture technology market.
The extension of the joint development agreement with ExxonMobil allows FuelCell Energy to continue advancing its carbonate fuel cell technology for carbon capture applications. This could potentially boost the company's position in the carbon capture technology market and positively impact its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
ExxonMobil's extension of the joint development agreement with FuelCell Energy could enhance its capabilities in carbon capture technology.
The extension of the joint development agreement with FuelCell Energy allows ExxonMobil to continue advancing its capabilities in carbon capture technology. This could potentially enhance the company's position in the carbon capture technology market and positively impact its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80