FuelCell Energy

Stationary fuel cells are FuelCell Energy's whole business. The company designs, builds and operates power plants based on molten carbonate fuel cells, which generate electricity through a chemical reaction rather than combustion and can run on natural gas, biogas or hydrogen. Its systems go to utilities, universities and industrial sites that want on-site power, and it can also capture carbon or produce hydrogen alongside electricity.

Founded in 1969 and based in Danbury, Connecticut, the company has a long engineering history but has struggled for years to turn its technology into consistent profits. It leans on government clean-energy incentives and a services backlog for revenue, and its stock tends to move with the shifting enthusiasm for hydrogen and decarbonization rather than with steady earnings.

On MyRWA, FCEL trades tokenized across 2 on-chain venues - see the listings below.