Benzinga | Sep 17, 2020 08:37AM EDT

FuelCell Energy Announces $3M Funding Award From US Department Of Energy

* $3.0 million funding award to advance the development and commercialization of FuelCell Energy's Reversible Solid Oxide Fuel Cell Systems

DANBURY, Conn., Sept. 17, 2020 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. (NASDAQ:FCEL) -- a global leader in fuel cell technology -- with a purpose of utilizing its proprietary, state-of-the-art fuel cell platforms to enable a world empowered by clean energy -- announces that the Company's reversible solid oxide project has been selected by the U.S. Department of Energy (DOE) to receive funding support in the amount of $3.0 million. The project focuses on developing performance improvements to advance the commercialization of FuelCell Energy's reversible solid oxide fuel cell systems. A reversible solid oxide fuel cell (RSOFC) system is a hybrid operation system that performs water electrolysis for the production of hydrogen, stores the hydrogen, and then produces power by using the produced hydrogen.