FuelCell Energy Inc (FCEL)

[Maximilliano]

Spoke with the DOE today...and learned a few facts.

1/ The DOE is not tardy on monies due FCEL for the coal-fired Barry plant at Southern in Alabama, contrary to the CT delegation's demand illustrated in a recent news article. If you look at p. 5 of krays August 2017 presentation, (my post 4403) the budget there is correct. All monies due FCEL from the DOE are fully paid now for budget period 1 thru 12/31/17. The budget has four budget periods, and upon application from FCEL in January of 2018, new monies will begin to flow to FCEL for budget period 2, representing some $9.5M, which begins 1/1/18.

2/ The recent DOE report of $30M for fuel cells is for SOFC's and does not cover MCFC's.

3/ Carbon capture and storage, represented by MCFC's, is a separate DOE appropriation. The appropriation is roughly $90M, and any cuts to the DOE in the FY2018 federal budget will not stop the monies due FCEL.