Excited for Monday as the NJ CHP project start date is July 1st
There were no specifics as to what phase of the project is starting (negotiations, going forward with already set orders, etc.) but hopefully we get an update on Monday with at least a scope of the size of the CHP projects that FCEL has in line.
The NJ grant program is a "rolling solicitation" where proposals get evaluated as they are submitted and they continue funding projects that meet the acceptance criteria for the project until the funding runs out. Given that, companies/agencies seriously interested in getting their projects funded probably had their proposals in by March. I think the State estimated a review/approval cycle of about 90 days, so it's likely that some projects have already been funded and that others are close to getting a funding decision.
That said, I don't think we should assume that means that news from FCEL is imminent. The timeline for putting out news will be dictated by the agencies/companies that submitted applications. In California, the current funding for the tri-generation plant at the Orange County Wastewater Treatment Facility ends in September of next year. Based on what I've read, I'm pretty sure that there are funds to upgrade that plant included in the $18 million in grant funds California recently released for hydrogen fuel stations, but I suspect we're months away from FCEL being able to announce that.
Choco, what you know about grant projects would obviously fit in a thimble designed for a child's finger.
$3 million is the maximum the state provides, but the state provides no more than 50% of the total project value, so any company/agency that submitted a grant for $3M did so for a project worth at least $6M.
Note the words "at least". If you were a New Jersey business interested in doing a $15M fuel cell project in the state, I suspect the idea of having the state pay for 20% of the cost would make the project more appealing to you, wouldn't it?
Choco, take your two id's and go short/bash a stock worth bashing. It is obvious you have two id's because you give everything two thumbs down that someone else posts but you can only give yourself one thumbs up because no one else supports you. You are wasting your breath on here and FCEL is trending up AFTER the convertible notes were issued. If that isn't a sign to avoid shorting a stock then I don't know what is. If you go silent when the news hits I will assume you lost your life savings and can no longer trade. Good luck either way.
67Mil$ incentive from NJ alone, for max 3 Mil$ per project. Max 50% incentive per project.
(max size single project is 6 Mil$... not bad).
I've found on njcleanenergy
said EDA Chief Executive Officer Michele Brown. “The six projects approved under the competitive program will not only create hundreds of new construction jobs and leverage more than $67 million of total investment in New Jersey’s economy, but also will reduce carbon dioxide emissions by 85,695 tons annually.”
There's a lot of info, except timing..... where can I find it?