Trying to win a few and it takes a TEAM
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Just look at the map.
https://bloombergcoalcountdown.com/
To fix the climate crisis, the world needs to stop burning coal as fast as possible.
One-third of all carbon emissions come from burning coal, making it the single largest contributor to climate change.
Thankfully, advancements in renewable energy technologies mean that coal is no longer necessary and the work to phase it out is already well underway. The US has shuttered or announced plans to retire more than 65% of its coal plants over the last decade, and nearly half of Europe’s coal fleet has been confirmed for retirement in just the past five years. Progress isn’t just happening — it’s accelerating.
The Bloomberg Global Coal Countdown has one singular mission: To track and count down the world’s remaining coal plant units as decision makers across governments and the private sector work together to accelerate the transition to a clean energy future.
6,593
Global Number of Operating Plant Units
+0.24%
Net Change in 1 Year
2,067,713
Top Global Coal Plant Capacity by MW
+0.56%
Net Change in 1 Year
Top 10 Country Ranking By...
Poland
South Korea
Indonesia
Germany
South Africa
Russia
Japan
United States
India
China
OPERATIONAL CAPACITY (MW)
COAL PLANT STATUS
PHASE-OUT STATUS
NO NEW COAL STATUS
Search
The Bloomberg Global Coal Countdown provides data on coal capacity and phase-out journey around the world. The Coal Plant Status map shows all existing coal plants of 30 MW or larger, as well as every plant proposed, by their operational status since January 1, 2010. The Phase-Out Status map shows the phase-out commitments of individual countries as of July 2021. The No New Coal Status map shows the no new coal commitments of individual countries as of July 2021.
Data is provided by Global Energy Monitor, University of Maryland Center for Global Sustainability, and Powering Past Coal Alliance.
SUPPORTED BY
bloomberg logo
IN PARTNERSHIP WITH
ppca logo
Global Coal Plants and Development Pipeline by Status
OPERATIONAL
CONSTRUCTION
PLANNED
HALTED
CANCELLED
RETIRED
0K
1K
2K
Capacity GW
2,068
185
297
113
1,716
415
Global Emission Reduction Scenarios
GHG Emissions from Coal Plants (in GtCO2e)
2010
2020
2030
2040
2050
0
2
4
6
8
10
12
14
16
Capacity Change 2017-2021 by Region
-800
-600
-400
-200
0
200
400
600
800
1000
1200
1400
1600
1800
2000
OECD+EU 2017
OECD+EU 2018
OECD+EU 2019
OECD+EU 2020
OECD+EU 2021
-800
-600
-400
-200
0
200
400
600
800
1000
1200
1400
1600
1800
2000
CHINA 2017
CHINA 2018
CHINA 2019
CHINA 2020
CHINA 2021
-400
0
400
1000
1600
Capacity GW
NON-OECD (NO CHINA) 2017
NON-OECD (NO CHINA) 2018
NON-OECD (NO CHINA) 2019
NON-OECD (NO CHINA) 2020
NON-OECD (NO CHINA) 2021
If you can't measure it, you can't manage it.
Michael R. Bloomberg
UN SECRETARY-GENERAL’S SPECIAL ENVOY FOR CLIMATE AMBITION AND SOLUTIONS
FOUNDER OF BLOOMBERG LP AND BLOOMBERG PHILANTHROPIES
I am calling on all governments, private companies, and local authorities to… cancel all global coal projects in the pipeline and end the deadly addiction to coal.
António Guterres
SECRETARY-GENERAL OF THE UNITED NATIONS
FEATURED ANALYSIS
Policy brief: A global plant-by-plant coal phase-out strategy
This policy brief series explores near-term coal retirement potentials and develops plant-by-plant retirement pathways to achieve 1.5°C-compatible phaseouts for individual countries. To balance broader national development goals, we apply a five-dimensional framework that integra ...
READ THE FULL ARTICLE
October 22, 2021
No New Coal Factbook
The global pipeline of proposed coal power plants has collapsed by 76% since the Paris Agreement in 2015, bringing the end of new coal power construction into sight. Since 2015, 44 governments (27 in the OECD & EU, 17 elsewhere) have already committed to no new coal, opening a pa ...
READ THE FULL ARTICLE
October 07, 2021
Coal-free cities: the health and economic case for a clean energy revolution
C40 research shows proposed coal expansion will ocst major cities USD 877 Billion, cause quarter-of-a-million premature deaths, and jeopardize climate goals. Analysis of 61 C40 cities shows strong action to phase out coal and expand renewable, zero-carbon energy could save thousa ...
READ THE FULL ARTICLE
September 29, 2021
LET’S END COAL NOW.
black logo
COAL is not going anywhere for a long time, even if we stopped the rest of the world is not ready. Not looking good for the planet.
How many coal-fired power plants are there in the world today?
FEBRUARY 28, 2021 BY 3 COMMENTS
The following data was submitted by a Mirror Reader.
Green New Deal???
The EU has 468 – building 27 more… Total 495
Turkey has 56 – building 93 more.. Total 149
South Africa has 79 – building 24 more… Total 103
India has 589 – building 446 more… Total 1035
The Philippines has 19 – building 60 more… Total 79
South Korea has 58 – building 26 more… Total 84
Japan has 90 – building 45 more… Total 135
China has 2,363 – building 1,171 more… Total 3,534
That’s 5,615 projected coal powered plants in just 8 countries.
USA has 15 – building 0 more…Total 15
And Democrat politicians with their “green new deal” want to shut down those 15 plants in order to “save” the planet.
This makes the point. Whatever the USA does or doesn’t do won’t make a Tinker’s Dam regarding CO2 unless the rest of the world, especially China and India reduces coal-fired power plants as well.
The whole “global warming” and “climate change” gambits by Democrats are to create a *supposedly* sound, scientific basis to justify a federal government power-grab and the passage of MORE laws to increase taxes and increased control of the privately owned power industry and its distribution. Never forget the *main* motivation they have!
“Oh, we will SAVE the planet!!”
http://www.capecharlesmirror.com/news/how-many-coal-fired-power-plants-are-there-in-the-world-today/
Thanks i have ordered it, will chime in after two weeks after taking it. I'm sure more who have tried will speak up.
Yep
Look up White hats and you see what he is talking about. I Think.
Very clear facts not Hogwash,your posts are to the point. You earn a Follow from me. I look forward to your posts. The market right now is FREE FALLING everywhere so we just have to look for better days ahead.
Whats the best product that Tsoi has for Prostate, i know many have tried there products or do i need to try more than one. Thanks
To approve an amendment to our Amended and Restated Certificate of Incorporation, as amended, to increase the total number of authorized shares of common stock from 250,000,000 shares to 500,000,000 shares (the “Authorized Share Proposal”); and
Going alot lower.
NOTICE OF SPECIAL MEETING OF STOCKHOLDERS
TO BE HELD ON JANUARY 27, 2022
To the Stockholders of Gevo, Inc.:
A special meeting of stockholders (the “Special Meeting”) of Gevo, Inc. (the “Company,” “we,” “us” or “our”) will be held at 10:00 a.m., Mountain Time, on Thursday, January 27, 2022. Due to the ongoing public health concerns resulting from the COVID-19 pandemic and to support the health and well-being of our stockholders, employees, directors and other stakeholders, the Special Meeting will be held entirely online live via audio webcast. The Special Meeting may be accessed at https://www.virtualshareholdermeeting.com/GEVO2022SM, where you will be able to listen to the Special Meeting live, submit questions and vote. The Special Meeting will be held for the following purposes:
1.
To approve an amendment to our Amended and Restated Certificate of Incorporation, as amended, to increase the total number of authorized shares of common stock from 250,000,000 shares to 500,000,000 shares (the “Authorized Share Proposal”); and
2.
To transact such other business as may properly come before the Special Meeting and any adjournment or postponement thereof.
If you owned our common stock at the close of business on November 29, 2021, you may virtually attend and vote at the Special Meeting. A list of stockholders eligible to vote at the Special Meeting will be available for review during our regular business hours at our headquarters in Englewood, Colorado for the ten days prior to the date of the Special Meeting for any purpose related to the Special Meeting. The list of stockholders will also be available during the Special Meeting through the Special Meeting website for those stockholders who choose to attend. This notice and the accompanying proxy statement, or a Notice of Internet Availability of Proxy Materials, as applicable, are first being made available on or about November 29, 2021 to all holders of record of common stock entitled to notice and to vote at the Special Meeting and any adjournments thereof.
Your vote is important. Whether or not you plan to virtually attend the Special Meeting, we hope that you will vote as soon as possible. You may vote your shares via a toll-free telephone number or over the Internet. If you received a proxy card or voting instruction card by mail, you may submit your proxy card or voting instruction card by completing, signing, dating and mailing your proxy card or voting instruction card in the envelope provided. Any stockholder virtually attending the Special Meeting may vote electronically at the Special Meeting, even if you have already returned a proxy card or voting instruction card.
If you have any questions regarding the accompanying proxy statement or how to vote your shares, you may contact D.F. King & Co., Inc., our proxy solicitor, toll-free at (888) 625-2588.
By Order of the Board of Directors,
/s/ Geoffrey T. Williams, Jr.
Geoffrey T. Williams, Jr.
Vice President - General Counsel & Secretary
https://www.sec.gov/Archives/edgar/data/1392380/000143774921027480/gevo20211119_def14a.htm
So expect more shares to hit the MARKET is what i see coming.
I add a large chuck more @0.03 larger chucks moving forward if it can get the momo.
Best day in a long time, more to come. Cents you said to just sit back wait.
I think it because of the 8-K filing
https://www.otcmarkets.com/filing/html?id=15425743&guid=GZfwkWlPRu_vOth
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ?
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ?
https://www.sec.gov/corpfin/secg-accelerated-filer-and-large-accelerated-filer-definitions
Accelerated Filer and Large Accelerated Filer Definitions
A Small Entity Compliance Guide[1]
Introduction
On March 12, 2020, the U.S. Securities and Exchange Commission (“Commission”) voted to adopt amendments to the “accelerated filer” and “large accelerated filer” definitions in Rule 12b-2 under the Securities Exchange Act of 1934 (“Exchange Act”). The amendments more appropriately tailor the types of issuers that are included in the categories of accelerated and large accelerated filers and promote capital formation, preserve capital, and reduce unnecessary burdens and compliance costs for certain smaller issuers while maintaining investor protections. The amendments are consistent with the Commission’s and Congress’s historical practice of providing scaled disclosure and other accommodations to reduce unnecessary burdens for new and smaller issuers.
Who is affected by the amendments?
The amendments affect domestic and foreign issuers with classes of securities registered under the Exchange Act that file on domestic forms and present their financial statements pursuant to U.S. GAAP. The amendments include a specific provision applicable to business development companies (“BDCs”), because BDCs are not eligible to be smaller reporting companies, and to provide a definition of “revenue” for BDCs to use for this purpose.
What is the result of the amendments?
As a result of the amendments, certain low-revenue issuers will not be required to have their management’s assessment of the effectiveness of internal control over financial report (“ICFR”) attested to, and reported on, by an independent auditor, as required by Section 404(b) of the Sarbanes-Oxley Act (“SOX”). However, those issuers will remain obligated, among other things, to establish and maintain ICFR and, as required by SOX Section 404(a), have management assess the effectiveness of ICFR. Additionally, the amendments revise certain transition thresholds for accelerated and large accelerated filers and add an ICFR auditor attestation check box to the cover pages of Forms 10-K, 20-F, and 40-F.
What changes were made by the amendments?
1. Add a revenue / investment income condition to the accelerated and large accelerated filer definitions.
The amendments add a new condition to the accelerated and large accelerated filer definitions in Rule 12b-2 that:
Excludes from the accelerated and large accelerated filer definitions an issuer that is eligible to be a smaller reporting company and that had annual revenues of less than $100 million in the most recent fiscal year for which audited financial statements are available; and
Excludes from the accelerated and large accelerated filer definitions a BDC that had investment income of less than $100 million in the most recent fiscal year for which audited financial statements are available and a public float of $75 million or more, but less than $700 million.
The table below summarizes the conditions required to be considered an accelerated and large accelerated filer under the amendments to Rule 12b-2.
Accelerated Filer Conditions Large Accelerated Filer Conditions
The issuer has a public float of $75 million or more, but less than $700 million, as of the last business day of the issuer’s most recently completed second fiscal quarter.
The issuer has a public float of $700 million or more, as of the last business day of the issuer’s most recently completed second fiscal quarter.
The issuer has been subject to the requirements of Exchange Act Section 13(a) or 15(d) for a period of at least twelve calendar months.
Same.
The issuer has filed at least one annual report pursuant to Exchange Act Section 13(a) or 15(d).
Same.
The issuer is not eligible to use the requirements for smaller reporting companies under the revenue test in paragraph (2) or (3)(iii)(B), as applicable, of the “smaller reporting company” definition in Rule 12b-2 or, in the case of a BDC, does not meet the requirements of the revenue test in those paragraphs using annual investment income as the measure of its annual revenues.
Same.
2. Increase the public float transition thresholds for accelerated and large accelerated filers.
The amendments increase the transition thresholds for accelerated and large accelerated filers becoming non-accelerated filers from $50 million to $60 million, and for exiting large accelerated filer status from $500 million to $560 million.
The table below summarizes how an issuer’s filer status will change based on its subsequent public float determination.
Amendments to the Public Float Thresholds
Initial Public Float Determination Resulting Filer Status Subsequent Public Float Determination Resulting Filer Status
$700 million or more
Large Accelerated Filer
$560 million or more
Large Accelerated Filer
Less than $560 million but $60 million or more
Accelerated Filer
Less than $60 million
Non-Accelerated Filer
Less than $700 million but $75 million or more
Accelerated Filer
Less than $700 million but $60 million or more
Accelerated Filer
Less than $60 million
Non-Accelerated Filer
3. Add a revenue test to the transition thresholds for accelerated and large accelerated filers.
For consistency with the amendments to the accelerated and large accelerated filer definitions, the amendments also add the revenue test and investment income test to the transition thresholds for exiting from both accelerated and large accelerated filer status.
4. Add a check box to indicate whether an ICFR auditor attestation is in a filing.
The amendments add a check box to the cover pages of annual reports on Forms 10-K, 20-F, and 40-F to indicate whether an ICFR auditor attestation is included in the filing.
What are the relationships between smaller reporting companies and non-accelerated, accelerated, and large accelerated filers under the amendments?
Under the amendments, some, but not all, smaller reporting companies become non-accelerated filers. The table below summarizes the relationships between smaller reporting companies and non-accelerated, accelerated, and large accelerated filers under the amendments.
Relationships between Smaller Reporting Companies and Non-Accelerated, Accelerated, and Large Accelerated Filers under the Amendments
Status Public Float Annual Revenues
Smaller Reporting Company and Non-Accelerated Filer
Less than $75 million
N/A
$75 million to less than $700 million
Less than $100 million
Smaller Reporting Company and Accelerated Filer
$75 million to less than $250 million
$100 million or more
Accelerated Filer (not a Smaller Reporting Company)
$250 million to less than $700 million
$100 million or more
Large Accelerated Filer (not a Smaller Reporting Company)
$700 million or more
N/A
What are the compliance dates of the amendments?
The amendments are effective April 27, 2020 and apply to an annual report filing due on or after the effective date. Even if that annual report is for a fiscal year ending before the effective date, the issuer may apply the amendments to determine its status as a non-accelerated, accelerated, or large accelerated filer.
For example, an issuer that has a March 31, 2020 fiscal year end and that is due to file its annual report on or after April 27, 2020 may apply the amendments to determine its filing status even though its fiscal year end date precedes the effective date. An issuer that determines it is eligible to be a non-accelerated filer under the amendments is not subject to the ICFR auditor attestation requirement for its annual report due and submitted on or after April 27 and may comply with the filing deadlines that apply, and other accommodations available, to non-accelerated filers.
Other Resources
The adopting release for these amendments can be found on the Commission’s website at https://www.sec.gov/rules/final/2020/34-88365.pdf.
The Commission’s disclosure forms can be accessed on the agency’s website at https://www.sec.gov/forms.
Contacting the SEC
The Commission’s Division of Corporation Finance is happy to assist small companies and others with questions regarding the amendments. You may contact the Division for this purpose at (202) 551-3400 or https://www.sec.gov/forms/corp_fin_interpretive.
Questions on other Commission regulatory matters concerning small companies may be directed to the Division’s Office of Small Business Policy at (202) 551-3460 or smallbusiness@sec.gov.
The Commission’s Division of Investment Management’s Chief Counsel’s Office is also available to assist small entities and others with questions regarding the rule amendments applicable to BDCs. You may contact the Office for this purpose at 202-551-6825 or IMOCC@sec.gov.
[1] This guide was prepared by the staff of the U.S. Securities and Exchange Commission as a “small entity compliance guide” under Section 212 of the Small Business Regulatory Enforcement Fairness Act of 1996, as amended. The guide summarizes and explains the rules adopted by the Commission, but is not a substitute for any rule itself. Only the rule itself can provide complete and definitive information regarding its requirements.
I believe today will tell us if its bad or good news, something always gets out to the market. There is always a leak. We will see.
Very true i believe it's going alot lower till the big boys get what they want, then bring back up make them self look good. Same game just different year.
If we drop to around $5.70 we will fill two gaps this year and last year, lets see if thats all. NEVER say never. This is not a looking so good. Sorry wish i had good news but that has to come from FCEL. JMHO
Who cares as long as it is a great post to eat up those shares, might just be what they are waiting for the NEW YEAR. Can always look at the other side of the coin, glass half full or just dumb luck.
old news
Energy
Posco Energy to sue FuelCell EnergyPosted : 2020-04-05 17:09Updated : 2020-04-06 09:31
All i can say about TSOI.
This one is running, lets see how good it works.
https://www.theguardian.com/environment/2021/sep/09/worlds-biggest-plant-to-turn-carbon-dioxide-into-rock-opens-in-iceland-orca
This caught my attention.
FABER: And you talked about the use in the hub, and you talked about, you know, carbon capture obviously. There’s a lot of carbon that comes out of there. But we’re not in a technological place where we can actually suck it out of the air in an efficient way and just store it somewhere or are we?
Your right, they use it. Company own words. Not that they are bad.
Capstone Hydrogen Development
As a thought-leader in the energy sector Capstone recognized years ago that hydrogen would play an important role as a key part of the future of renewable, green energy landscape. Hydrogen microturbines are the perfect complement for the intermittent nature of wind and solar power, making them an ideal component of the modern clean and green microgrid. When wind and solar energy production exceeds demand, excess energy can be used in the production of storable renewable hydrogen energy. Stored hydrogen provides a convenient high-density fuel source and can then be used as carbon-free fuel for Capstone’s microturbines. Microturbines benefit from immediate use as a decentralized energy source, located where hydrogen can be produced and stored locally.
Through long-standing federal, university, and international research partnerships, Capstone has patented technology for the use of hydrogen and works closely with these agencies to assure a clean energy future. We continue to explore the ever-changing energy landscape for complementary partners, technologies, and applications that enables carbon reduction goals to be achieved. Hydrogen pilot facilities, hybrid systems, hydrogen conversion technologies, microgrids, and thermal storage are all energy areas that Capstone is currently pursuing.
Plug Logo will be added to all the tanks now the deal is done. To get smaller companies to join in on the change, you have tanks to store and get it to the little guys. Cost cutting out the middle man smart move the way i see it. Linde try to screw us once now pay back. Only thing i see is Plug will help with some of there cost hurting bottom line with the tank setup.
We need the tanks now we have it.
https://www.appliedcryotech.com/blog/
Looks like BLDP got the backup deals.
https://finance.yahoo.com/news/ballard-teams-caterpillar-microsoft-demonstrate-134500570.html
It gets better, two birds with one stone. Makes you go Hmmmmmm
https://www.greencarcongress.com/2021/11/20211117-heliogenbloom.html
I like what this guy is looking at. Buying
This i believe is in the making with FCEL.
https://newatlas.com/fuel-cell-submarines-offer-underwater-stealth/3434/
This will be used for space travel where space and weight are critical,and maybe your backyard grill on the moon. I always try to look forward, just to many ways to run with this. Best to you anyway.
This came from Plug board from LEMMI, this is a game changer. Need to watch. https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166784131
This is a game changer and at the same time could be a danger for the world, rockets that can fly long distance with a BAD payload. Still WOW
Might have something to do with this.
https://finance.yahoo.com/news/notable-bloom-energy-insider-trades-154606247.html
Looks like TANKING to me.
It would also boost carbon capture technologies and more environmentally-friendly electricity sources like clean hydrogen.
MODERNIZING THE ELECTRIC GRID
To protect against the widespread power outages that have become more frequent in recent years, the bill would spend $65 billion to improve the reliability and resiliency of the nation's power grid. It would also boost carbon capture technologies and more environmentally-friendly electricity sources like clean hydrogen.
https://www.aol.com/roads-transit-internet-whats-infrastructure-044017277-115745499.html
Tsoi needs to get going more will come up with these pills. I know they do more but this is the money maker and this would help to get notice.
https://finance.yahoo.com/news/pfizer-develops-covid-pill-cuts-122927302.html
The spread between BID and ASK are much tighter now, good sign.
Read the deal with EXXON.
Item 1.01.Entry into a Material Definitive Agreement.
Amendment No. 1 to Joint Development Agreement between FuelCell Energy, Inc. and ExxonMobil Research and Engineering Company and Related Letter Agreement
On October 29, 2021, FuelCell Energy, Inc. (the “Company”) and ExxonMobil Research and Engineering Company (“EMRE”) entered into Amendment No. 1 to the Joint Development Agreement between the Company and EMRE (“Amendment No. 1”).
The Joint Development Agreement between the Company and EMRE (the “Original Agreement”) was executed on November 5, 2019, was effective as of October 31, 2019, and had a term of two years from the effective date, ending on October 31, 2021. Under the Original Agreement, the Company has engaged in exclusive research and development efforts with EMRE to evaluate and develop new and/or improved carbonate fuel cells to reduce carbon dioxide emissions from industrial and power sources in exchange for (i) payment by EMRE of certain fees and costs as well as certain milestone-based payments to be paid only if certain technological milestones are met, two of which had not been satisfied as of the execution of Amendment No. 1, and (ii) certain licenses, in each case as described in the Original Agreement. The terms of the Original Agreement are described more fully in the Current Report on Form 8-K filed by the Company on November 6, 2019.
In Amendment No. 1, which is effective as of October 31, 2021, the Company and EMRE agreed, among other things, to extend the term for an additional six months, ending on April 30, 2022, unless terminated earlier in accordance with the provisions of the Original Agreement. Amendment No. 1 allows for the continuation of research that would enable incorporation of design improvements to current Company fuel cell design in order to support a decision to use the improvements in a future demonstration of the technology for capturing carbon at ExxonMobil’s Rotterdam refinery in the Netherlands (such demonstration, the “Rotterdam Project”) and provides additional time to achieve Milestone 1, as defined in the Original Agreement. Under the terms set forth in the Original Agreement, upon achievement by the Company of Milestone 1 to EMRE’s satisfaction, the Company would be entitled to receive a milestone payment of $5.0 million from EMRE. However, there can be no assurance that the Company will achieve Milestone 1 (or any other milestone) to EMRE’s satisfaction.
In a related letter agreement between the Company and EMRE dated as of October 28, 2021 and executed on October 29, 2021 (the “Letter Agreement”), the Company agreed to invest with EMRE in the Rotterdam Project, should EMRE move forward with the demonstration project. In the Letter Agreement, the Company agreed that, if (i) the Company achieves Milestone 1, as set forth in the Original Agreement, as amended by Amendment No. 1, and (ii) EMRE and the Company execute a contractual agreement to proceed with the Rotterdam Project, then at EMRE’s option, the Company will either make an investment in the amount of $5.0 million in the Rotterdam Project or discount EMRE’s purchase of the Company’s fuel cell module and detailed engineering design, as agreed to by the parties, required for the Rotterdam Project by said amount.
The foregoing summary of the terms of Amendment No. 1 and the Letter Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of Amendment No. 1 and the Letter Agreement, copies of which are attached as Exhibit 10.1 and Exhibit 10.2, respectively, to this Current Report on Form 8-K and incorporated herein by reference.
Other Material Relationships with ExxonMobil Research and Engineering Company
In addition to the Original Agreement (as amended by Amendment No. 1) and the Letter Agreement, in June 2019, the Company and EMRE entered into a license agreement to facilitate the further development of the Company’s SureSource CaptureTM product. Pursuant to this license agreement, the Company granted EMRE and its affiliates a non-exclusive, worldwide, fully-paid, perpetual, irrevocable, non-transferable license and right to use the Company’s patents filed on or before April 30, 2021, and any data, know-how, improvements, equipment designs, methods, processes and the like provided directly by the Company or its affiliates to EMRE or its affiliates under any agreement or otherwise, on or before April 30, 2021, to the extent it is useful to research, develop and commercially exploit carbonate fuel cells in applications in which the fuel cells concentrate carbon dioxide from industrial and power sources and for any other purpose attendant thereto or associated therewith.
This license agreement is being described only for the purpose of describing the material relationships between the Company and EMRE and is not impacted by Amendment No. 1 or the Letter Agreement.
Item 7.01 Regulation FD Disclosure.
On November 2, 2021, the Company issued a press release announcing the extension of the term of its Joint Development Agreement with EMRE. A copy of this press release is furnished with this Current Report on Form 8-K as Exhibit 99.1.
The information furnished in this Item 7.01, including Exhibit 99.1, is not deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section. This information will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except to the extent that the Company specifically incorporates it by reference.
Item 8.01.Other Events.
Long Island Power Authority Project Awards Update
As previously reported, in July 2017 the Company was awarded three projects on Long Island, New York totaling 39.8 MW by the Long Island Power Authority (“LIPA”). In December 2018, the Company executed a power purchase agreement for one of the three awards (a 7.4 MW project in Yaphank, Long Island), which is currently reflected in the Company’s backlog, is in late-stage construction and is expected to reach commercial operations in the near term.
The other two awards, for which there are no executed power purchase agreements, and which are not part of the Company’s reported backlog, had been progressing through the required interconnect process while the Company worked to find a commercial resolution and enter into such agreements with LIPA. Given the passage of time without a resolution, the Company has made a decision to no longer pursue the interconnection process and will no longer pursue development of these two projects. As a result of this decision, the Company expects to record a non-material impairment charge estimated at approximately $1.8 million in its financial statements for the quarter and fiscal year ended October 31, 2021.
U.S. Navy Submarine Base in Groton, Connecticut Update
On September 14, 2021, the Company disclosed that the process of commissioning the 7.4 MW platform at the U.S. Navy Submarine Base in Groton, Connecticut was temporarily suspended due to a needed repair. The Company also disclosed that if commercial operations were delayed beyond October 18, 2021, an extension would be required from the Navy. An extension was received from the Navy extending the date by which commercial operations are to be achieved to December 31, 2021. As of the date of filing of this Current Report on Form 8-K, the Company has completed all necessary repairs and has resumed commissioning of the project.
In addition, as previously disclosed on September 14, 2021, in August 2021, the Company closed on a tax equity financing transaction with East West Bancorp, Inc. (“East West Bank”) for this project. East West Bank’s tax equity commitment totals $15 million. In connection with the initial closing, the Company was able to draw down $3.0 million. The Company is eligible to draw the remaining amount of the commitment, approximately $12 million, once the Groton project achieves commercial operation. Under the terms of the Company’s agreement with East West Bank, the project had a required commercial operation deadline of October 18, 2021. On October 18, 2021, East West Bank granted an extension of the commercial operation deadline to December 31, 2021.
https://ih.advfn.com/stock-market/NASDAQ/fuelcell-energy-FCEL/stock-news/86435754/current-report-filing-8-k
Hope you are right.