PartnershipJun 24, 2026, 07:16 AM
FuelCell Energy Partners with Fit Energy for 380 MW Data Center Power
AI Summary
FuelCell Energy Inc. announced a strategic agreement with Fit Energy USA LP to provide up to 380 megawatts (MW) of clean, baseload power for data centers using FuelCell Energy's utility-scale fuel cell technology. The agreement includes an immediate deposit for an initial 30 MW, with delivery scheduled to begin later this year. The partnership also involves the issuance of warrants to Fit Energy, allowing them to purchase up to 12,000,000 shares of FuelCell Energy's common stock at an exercise price of $26.44 per share, with vesting tied to future deployment milestones.
Key Highlights
- Strategic agreement with Fit Energy for up to 380 MW of fuel cell systems.
- Initial phase includes 30 MW capacity, with delivery expected this year.
- Agreement covers four phases: 30 MW, 100 MW, 125 MW, and an additional 125 MW.
- Fuel cell systems to supply baseload electricity for data center applications.
- Issued three tranches of warrants to Fit for up to 12,000,000 shares of common stock.
- Warrant exercise price set at $26.44 per share.
- Warrants vest based on deposits for subsequent phases of the agreement.
- Long-term service agreements (LTSAs) expected to have terms of 15 to 20 years.
Price Impact
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