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FuelCell Energy +4% as Cowen lauds carbon capture technology

Sep. 19, 2017 2:50 PM ETFuelCell Energy, Inc. (FCEL) StockXOM, FCELBy: Carl Surran, SA News Editor48 Comments
  • FuelCell Energy (FCEL +4.1%) moves sharply higher after Cowen analyst Jeffrey Osborne says Exxon Mobil's (XOM +0.1%) foray into carbon capture and storage technology with the company is "making progress."
  • The technology, which has moved from the lab to a commercial test at a power plant in Alabama, could be licensed globally to help countries reach greenhouse gas reduction targets, Cowen says, viewing "a successful launch of this technology, albeit in the outer years, as material to the outlook for natural gas demand."
  • Capturing 90% of the emissions at just 1% of U.S. coal plants would require 2,160 MW of fuel cells, equal to ~$6.5 B in sales and $9.7B in service revenue, Osborne estimates; FCEL's total sales in FY 2016 were just $108M.

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