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With Concerns Mounting, FuelCell Wins Deal With Exxon Mobil

Tanzeel Akhtar

Nano-cap Fuel Cell Energy (NASDAQ: FCEL) shares spiked higher after the company reported a licensing deal with Exxon Mobil (NYSE: XOM) Research and Engineering company.

This isn't the first partnership between the two companies. Back in 2016, Exxon Mobil partnered with FuelCell Energy to advance its technology that may improve CCS efficiency and affordability for large natural gas-fired power plants.

The safety of hydrogen fuel cell vehicles is being questioned after an explosion at a hydrogen fueling station in Norway. The explosion prompted Toyota and Hyundai to freeze new sales of hydrogen fuel cell vehicles.

FuelCell on Tuesday afternoon filed a non-timely 10-Q filing giving a comprehensive summary of a company's financial performance.

Fuel Cell Energy shares traded up 47 percent at 59 cents Wednesday afternoon.

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