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Motion 55 - the FCEL bids are in trouble IMO.
In its SCEF Year 1 review, DEEP requested clarification from twenty-six of the thirty evaluated proposals. Thus, there were only four proposals that DEEP deemed sufficiently complete as to not require further clarification. As a practical matter, DEEP’s review could not be completed until after the bid deadline. All of the requests for clarification by DEEP had due dates after the July 27, 2020 proposal deadline. The timing of the request for clarifications was merely a function of when DEEP completed its review of the bid and not something that the projects could control. Without an opportunity for entities to provide this type of clarification, DEEP likely would have failed these proposals on the Appendix B evaluation and would have instructed Eversource and The United Illuminating Company (UI) (together, EDCs) to disqualify them. This could have resulted in a Year 1 SCEF program with only 4 eligible projects total across both EDCs’ territories.
The twenty-six proposals where DEEP issued requests for clarification involved requests to clarify a number of aspects of Appendix B, including but not limited to, documentation of site control, slope and topography of the project site, manufacturing equipment, and site plans. Again, when DEEP identified a potential source of ambiguity or a lack of clarity, it requested clarification. Multiple proposals failed to provide site control documentation as part of their initial Appendix B responses and DEEP requested such documentation through a subsequent clarification request. However, all but two of these projects did provide the site control
http://www.dpuc.state.ct.us/dockcurr.nsf/8e6fc37a54110e3e852576190052b64d/985f508d36dcb877852586320050d998/$FILE/12.1.2020%20Motion%20for%20Clarification%2019-07-01.pdf
Open the latest prospectus and do a text search for PURA. (Control F incase you are not familiar with test search)
Whole lot of bad news in those filings.
Triangle Street impairment
PURA reversal on 11.2MW projects in CT
LIPA projects highly questionable.
$87.3m payoff of an $80m loan that is a year old.
Maxing out AS (up next is either an AS increase or another RS)
$880m arbitration filed by POSCO
Withholding of $6.4m revenue from the KOSPO service agreement.
Might want to read the updated risk factors before you decide to repurchase.
JMO
Orion is making out pretty well on those 19m warrant shares they are now selling @ $6.50 and obtained for 24 cents!
For those interested in following the bill.
https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=SB-10
Depends on when they max out the os. They have around 25m to play with as we speak. If anyone is stupid enough to think they won’t do it, take a history lesson. Last rs was in May of 2019. Share count at that time was around 20m. Now it’s pushing 300m. It’s a business plan, and much more profitable than anything else they have going.
If it were me, I would wait til about 3 weeks after the 2021 reverse split.
Money to be had in this one but be very careful.
Yeah right, why don’t I take my gains now? Worried about tax liability for 2020. Gonna take
My losses and hold the gains. Looking forward to another FCELB distribution in November. Dammit, more tax liability.
Full disclosure, I took greater than 100k losses in 2019 on my legacy shares (2016-2019)
I don’t want to come across as a professional, but since you asked. Between FCEL and FCELB, I have 2020 realized gains of 145k And unrealized gains of 28k. Mostly due to the FCELB holdings on the unrealized.
If IHub would allow a screenshot I would post it to verify.
Gotta link to break even at 50 MW? That number hasn’t been floated by the company for at least 3 years when your old hero “Bottone” was In Charge.
Countdown to Groton T minus 75 days.
I have no doubt that you will be on the wrong side of the trade. Sophisticated amateur.
Ok, but you realize that one good PR doubles the price right? From there, we can handle the “gap needs to fill” folks. The stock is going to run in 2020 but will tank when the co announces the RS.
I’m shocked by how many “chartists” have emerged lately on this board. I thought the “fundamentalists” were in charge.
Support/resistance is the latest topic from unqualified posters. I guess we’ll just assume we’re dealing with folks that have no clue what’s happening from a Fundamental view.
Good things are in the works, but we will also be dealing with a reverse split in 2021.
Probable pump and dump on the horizon. Maybe just a never ending short attack!
Several of the companies CVI Investments has been involved with raise several red flags.
https://utopiacap.com/2020/04/21/cvi-investments/amp/
Companies from the Cayman Islands are always legit. That’s why they domicile offshore.
FuelCell Energy Announces Launch of Offering of Common Stock
FuelCell Energy, Inc. (Nasdaq: FCEL) (“FuelCell Energy” or the “Company”) today announced the launch of an underwritten public offering of 31,000,000 shares of its common stock
https://investor.fce.com/press-releases/press-release-details/2020/FuelCell-Energy-Announces-Launch-of-Offering-of-Common-Stock/default.aspx
No it doesn’t! It all depends on another 31-36 million shares hitting the float. Probably see another reverse split next year.
Dumping shares is by far the largest revenue source for this outfit!
Here comes $2
FuelCell Energy Announces Multiple Awards to Provide Clean Energy to Northeast Power Grid
https://investor.fce.com/press-releases/press-release-details/2020/FuelCell-Energy-Announces-Multiple-Awards-to-Provide-Clean-Energy-to-Northeast-Power-Grid/default.aspx
Shareholders only consolation is that the utter failure of the Clearway/Pittsburgh project didn’t completely kill the FCEL SOFC program in the eyes of the DOE.
Correction, $3m vs the $299,125,000 I originally posted.
Doesn’t matter much, cept it’s gonna cost FCEL more than they can afford.
How many years does it take to develop a sofc that is commercially viable?
Project Selections for FOA 2300
SEPTEMBER 15, 2020
$3m award
DOE Funding: $2,999,125; Non-DOE Funding: $88,044; Total Value: $3,087,169
(6) Performance Improvements for Reversible Solid Oxide Fuel Cell Systems – FuelCell Energy, Inc. (Danbury, CT) and its partner, the Center for Power Electronics Systems at Virginia Polytechnic Institute and State University (Virginia Tech), will work to advance high efficiency and low cost reversible solid oxide fuel cell (RSOFC) system technology for the hybrid operation of water electrolysis for hydrogen production, as well as for power generation using hydrogen. Research in three areas will be pursued concurrently: (1) improvements to the fundamental repeat unit materials in the RSOFC stack (cell, seal, interconnects, and coatings) to improve efficiency and reduce degradation; (2) stack design improvements, particularly in the area of thermal management, which offer the potential for improved degradation characteristics and/or increased power density; and (3) advanced fuel cell power management technology.
https://www.energy.gov/fe/articles/project-selections-foa-2300
Sold in the mid 20’s and watched it go to 90. Argh
What a gift! Looking for a bottom to go in heavy! I was pissed at myself for taking 100% while it was VTIQ.
Took a small reentry with my gains at 40ish but now thinking I should go heavy, with anything less than 30. Profits booked already, but thinking that there’s a lot more to be had!!
Likely a reaction to the newly issued (47m @ 41ish$) shares.
I still like the deal, and think it’s good dilution, if there is such a thing.
https://www.freightwaves.com/news/behind-the-scenes-how-the-gm-nikola-tie-up-came-together
Asian prices boost Driftwood LNG commercial efforts: Tellurian CEO
https://www.spglobal.com/platts/en/market-insights/latest-news/natural-gas/082820-asian-prices-boost-driftwood-lng-commercial-efforts-tellurian-ceo
Average weekly increase in outstanding shares? C’mon man the suspense is killing me??
Makes me wonder why FCEL is currently paying >10% to finance their late deliveries.
It’s either the 15yr mortgage interest rate or the amount of down payment you currently have at your disposal.
I own my home free and clear.
Thanks for your input liltom.
Yesterday was a dilution event.
Mission accomplished
I’ll try to help
What?
“It disturbs me how much of FCEL's intellectual property assets have a lien at any given time.”
They all do FYI
http://legacy-assignments.uspto.gov/assignments/assignment-pat-50899-262.pdf
Btw, it was nice to see the FCELB dividend hit my account today. Dividends have paid my initial entry costs and it’s all gravy from here. Not to mention the gains I’ve seen from my cost basis.
Post didn’t get much notice but it is a significant development.
Couple quotes contained in the links
Tim Barckholtz, (Senior scientific advisor at ExxonMobil)
“the two-year research project has taken us a step closer to using molten carbonate fuel cells to capture CO2”
Well thought out bull case scenario.
https://investorplace.com/2020/08/dont-bet-against-innovation-and-nikola-stock/
Exxon and molten carbonate CO2 article
Find out how ExxonMobil’s Tim Barckholtz and the University of Genoa’s Prof. Barbara Bosio built a transatlantic partnership to progress CO2 capture technology that could help lower emissions: https://t.co/yF3dz6YGUY pic.twitter.com/0nZtN0FsFa
— ExxonMobil EU (@ExxonMobil_EU) August 14, 2020
If they price the offering at $10, it will add approximately 30m shares not 300m so more like a 10% increase.