FuelCell Energy Inc (FCEL)

[Maximilliano]

Inventory 10Q March 2024 for Q1

The amount of total inventory as of January 31, 2024 and October 31, 2023 was $105.6 million ($2.7 million is classified as long-term inventory) and $91.8 million ($7.3 million is classified as long-term inventory), respectively, which includes work in process inventory totaling $67.3 million and $55.6 million, respectively. Work in process inventory can generally be deployed rapidly while the balance of our inventory requires further manufacturing prior to deployment. To execute on our business plan, we must produce fuel cell modules and procure balance of plant (“BOP”) components in required volumes to support our planned construction schedules and potential customer contractual requirements. As a result, we may manufacture modules or acquire BOP components in advance of receiving payment for such activities. This may result in fluctuations in inventory and cash as of any given balance sheet date.
(page 30)

https://d18rn0p25nwr6d.cloudfront.net/CIK-0000886128/e5c4e04d-5a76-4fd7-8964-ef88e209233d.pdf

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Manufacturing of the modules for the Rotterdam demonstration has begun in FuelCell Energy’s Torrington, Connecticut, manufacturing facility. (April 8, 2024)

https://investor.fce.com/press-releases/press-release-details/2024/Recently-Updated-and-Extended-Joint-Development-Agreement-between-ExxonMobil-Technology-and-Engineering-Company-and-FuelCell-Energy-Aimed-at-Accelerating-Access-to-Carbonate-Fuel-Cell-Technology-for-Carbon-Capture/default.aspx