Replies to post #16713 on FuelCell Energy Inc (FCEL)

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FuelCell Energy Announces End of Engagement with Huron Based on Progress

https://investor.fce.com/press-releases/press-release-details/2019/FuelCell-Energy-Announces-End-of-Engagement-with-Huron-Based-on-Progress/default.aspx

11/5/2019 DANBURY, Conn., Nov. 05, 2019 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc.  (Nasdaq: FCEL), a global leader in delivering clean, innovative and aordable fuel cell solutions for the supply, recovery and storage of energy, today announced that based on the progress made by the Company, the Board ended the engagement with Huron and the restructuring services being provided eective October 31, 2019. Beginning on June 2, 2019, Huron provided various services related to the Company’s restructuring and contingency planning initiatives. The Board’s decision was based on the outcome of many actions undertaken by Huron at the direction of the Board that led to the Company’s successful restructuring, including the right sizing of the business, implementation of cost control measures, and pay o of substantial corporate debt. “Huron did an exceptional job on behalf of FuelCell throughout the restructuring and their eorts toward our stronger future is appreciated," said Jason Few, President and Chief Executive Ocer, FuelCell Energy, Inc. "Huron engaged at a dicult time in the Company’s history and has completed its role successfully positioning FuelCell Energy in a much stronger position just four months after the initial engagement.” The Company will continue delivering world class dierentiated clean continuous power, the work of revitalizing FuelCell Energy, its overall operational eectiveness, enhanced commercial activity, geographic expansion and improving nancial results.