FCEL gap at 2.20 on the previous run up and then gap at 2.20 on the way down. I am holding this puppy for that $2.20 --- might buy more on Monday then play the daily chart for flips.
As the name implies, the company generates large-scale electric power from hydrogen-storing fuel cells, a technology you've heard plenty about in the context of powering the next generation of cars. The concept is great: Take organic waste materials like chicken droppings and household trash, extract hydrogen gas from said detritus, and use it to power anything from factories to small towns. It works, it's already in production in places like South Korea and California, and FuelCell should make a lot of people very rich ... eventually. My two cents so buy and hold
FCEL - Already in business with the US NAVY -- read the last part of the news. in RED - These are the first sold to LOGANEnergy; now look at how many they have more than 150 installations at 100 sites. - if LOGANEnergy converts all the plants in time to DFC300 fuel cell power .
Add the news about the $3 Million from the Government (not released yet; see glassy post) ; the sales and products will increase. As stated by MotleyFool FCEL could make people rich with time.
FuelCell Energy Power Plants to be Installed at U.S. Naval Submarine Base New London Two DFC300 Fuel Cell Power Plants to Provide Reliable and Efficient Power for Base Energy Plant
DANBURY, Conn., Aug. 9, 2010 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. (Nasdaq:FCEL) a leading manufacturer of high efficiency ultra-clean power plants using renewable and other fuels for commercial, industrial, government, and utility customers today announced the sale of two 300 kilowatt DFC300 fuel cell power plants to be installed at the U.S. Naval Submarine Base New London, located in Groton, CT.
The two DFC300 fuel cell power plants will be installed adjacent to the existing energy plant on the Base and will provide reliable base load electricity to the Base. The byproduct heat generated by the fuel cell energy conversion process will be utilized for pre-heating the water used in the boiler at the existing energy plant, reducing fuel costs for the Base. FuelCell Energy's partner, LOGANEnergy will purchase, install and operate the fuel cell power plants, subcontracting maintenance services to FuelCell Energy under a three year service contract.
The efficiency of fuel cells is almost 80% when the byproduct heat from the energy conversion process is utilized for facility heating or heating water. This high efficiency reduces greenhouse gas emissions, improving the carbon footprint for the Base.
"We are pleased with this opportunity to broaden our relationship with the U.S. Department of Defense and the U.S. Navy as we assist them in reaching their clean energy goals," said Richard Shaw, Director Business Development FuelCell Energy, Inc. "Our fuel cell power plants decrease greenhouse gas emissions and virtually eliminate the emission of harmful pollutants compared to combustion based power generation alternatives while improving the security and reliability of the power supply."
Naval Submarine Base New London is the U.S. Navy's first submarine base and is the home port for a fleet of attack submarines and the Navy's nuclear research deep submersible NR-1. The base is located on the east side of the Thames River in Groton, CT and the main base occupies more than 687 acres. The base supports more than 70 tenant commands including, Commander Submarine Group 2, Naval Submarine School, Naval Submarine Support Facility, three submarine squadron staffs, and the housing and support facilities for more than 21,000 civilian workers, active-duty service members and their families.
LOGANEnergy is a dedicated fuel cell energy service company, specializing in designing and developing fuel cell projects. Founded in 1993, LOGANEnergy's worldwide portfolio exceeds 11 MW of fuel cell capacity with more than 150 installations at 100 sites.