NEW YORK, NY--(Marketwire -02/27/12)- President Obama's commitment to renewable energy continues to be one of the driving forces behind the industry. Earlier this month while speaking in Florida, the President called on the country to refocus the nation's energy production on renewable sources. While on the election campaign, Obama has promised a series of business tax reforms that include making tax credits for renewable energy generation permanent. Five Star Equities examines the outlook for companies in the Alternative Energy Sector and provides equity research on FuelCell Energy Inc. (NASDAQ: FCEL - News) and Ballard Power Systems, Inc. (NASDAQ: BLDP - News) (TSX: BLD.TO - News). Access to the full company reports can be found at:
FuelCell Energy, Inc., together with its subsidiaries, engages in the development, production, and sale of high temperature fuel cells for clean electric power generation.
Shares of FuelCell Energy skyrocketed earlier this month after the company reported that it will form a joint venture with Germany's Fraunhofer IKTS to develop projects in Europe. FuelCell will lead market development and retain majority ownership of the joint venture through a German unit. The venture will seek to use incentives in the region for combined heat and power generated by fuel-cell power plant running on natural gas or biogas, FuelCell said in a statement.
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Canada's Ballard Power Systems Inc. engages in the design, development, manufacture, sale, and service of fuel cell products for motive and stationary power markets primarily in the United States, Canada, the United Kingdom, and Germany.
The company narrowed its net loss in the fourth quarter to US$7.3 million or 9 cents per share. "Given the challenges of developing new markets in a tough global economy, we are pleased with continued progress posted in 2011 and believe Ballard is well positioned to take a milestone step in 2012 on our path to profitability," John Sheridan, President and CEO said in a statement.
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