Benzinga | Oct 9, 2020 10:35AM EDT

Why FuelCell Energy's Stock Is Trading Higher Today

FuelCell Energy (NASDAQ:FCEL) shares are trading higher on Friday after the company announced it has won an $8 million funding award from the Department of Energy to design and manufacture a SureSource electrolysis platform.

FuelCell Energy is a fuel-cell power company. FuelCell designs manufactures, sells, installs, operates, and services fuel-cell products, which efficiently convert chemical energy in fuels into electricity through a series of chemical reactions. It serves various industries such as Industrial, Wastewater treatment, Commercial and Hospitality, Data centers and Communications, Education and Healthcare, and others. Geographically, the company generates a majority of its revenue from the United States followed by South Korea

FuelCell Energy shares traded up 4.83% to $2.50 on Friday at the time of publication. The stock has a 52-week high of $3.50 and a 52-week low of 23 cents.