FuelCell Energy $FCEL Stock Higher On Senator Manchin Inflation Reduction Act of 2022

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FuelCell $FCEL stock exploded higher in after-hours trading on July 27, 2022, after Senator Manchin said he supports his democrat colleague Schumer on the Inflation Reduction Act of 2022.

In the name of combating inflation, democrats are putting forth a massive $430 billion in new spending.

The Inflation Reduction Act of 2022 includes investment in technologies for all fuel types, including hydrogen, nuclear, and renewables.

📺 Schumer and Manchin reach deal on reconciliation bill

FuelCell Energy Earns Top Product of the Year Award for its Trigeneration Platform from Environment + Energy Leader

On July 20, 2022, FuelCell Energy announced that the FuelCell Energy Trigeneration Platform received a Top Product of the Year Award in the elite Environment + Energy Leader Awards program. The announcement was made today at the Environment + Energy Leader Solutions Summit 2022.

The win indicates that the program’s expert judges consider the FuelCell Energy Trigeneration Platform a top example of exemplary work in energy and environmental management today.

With renewable gas supply, the FuelCell Energy Trigeneration platform will enable an onsite, industrial scale, zero-carbon solution for the Toyota Logistics Services facility in the Port of Long Beach, California. The co-location of hydrogen generation and hydrogen fueling at the facility is the first of its kind and the only platform in the world to produce electricity, hydrogen, and water from a single platform.

The FuelCell Energy Trigeneration platform will leverage renewable natural gas commercially to generate green hydrogen and zero-carbon electricity and provide produced water delivering the trifecta of sustainable solutions. The platform will provide the green hydrogen needed to create a zero-emissions hydrogen truck and car fueling depot, along with a zero-carbon footprint Toyota facility and a net water producer supporting its operations. The additional benefit of the project is that the platform will generate water that will be used for Toyota’s car washing operations, furthering its environmental stewardship in an arid region.

The FuelCell Energy platform will also help the Port of Long Beach lower its emissions, improving the air quality in a region struggling with poor air quality.

FuelCell Energy Director of Technology and Product, Paul Fukumoto, and Toyota North America, Sustainability Manager Mark Yamauchi will be present to discuss the project at a Q & A session during the Solutions Summit on July 21, from 10:15 to 11:00 a.m.

“We’re honored to be recognized for this project,” said Tony Leo, CTO for FuelCell Energy. “The Trigeneration project will help Toyota drive to their announced zero emission goals and provide the hydrogen needed to power zero-emissions fuel cell electric vehicle transportation for passenger cars and class 8 heavy-duty trucks. Leveraging our distributed hydrogen Trigeneration platform will serve as a model for delivering hydrogen at the point of consumption, thus leapfrogging midstream infrastructure challenges. Zero carbon power and zero carbon hydrogen are key energy supplies for Toyota, which combined with the production of water in a drought region are key elements of meeting their sustainability and business objectives.”

One judge said, “Ultimately, we need more hydrogen-based solutions to drive de-carbonization in our industry. Any projects like this that start pushing the envelope to use hydrogen will allow our industry to learn and grow.”

Another added: “This Tri-Gen project is expected to generate 2.3MW of electricity and 1.3 tons of hydrogen per day to support Toyota Logistics Services operations at the port. The uniqueness of this project is that the plant will be powered by renewable directed biogas (biogas which is purified to pipeline quality and delivered to the plant through the natural gas pipeline).”

The Environment + Energy Leader Awards is a program recognizing excellence in products and services that provide companies with energy and environmental benefits and in projects implemented by companies that improve environmental or energy management and increase the bottom line.

“With a very experienced and critical judging panel and a strict set of judging criteria, entrants faced an extremely high bar to qualify for an award in 2022,” says Sarah Roberts, Environment Energy Leader publisher.

📈 FuelCell $FCEL Chart

We have an interesting candle-over-candle turn in the daily time frame; however, the TTM Squeeze bands have yet to turn up. The TTM Squeeze indicator should turn up tomorrow because of the enormous surge of 10% in after-hours trading on July 27, 2022.

Fcel Barchart Interactive Chart
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