Shares of FuelCell Energy Inc. (FCEL) surged 8.4% in premarket trading, putting it on track for a fourth-straight gain, after the fuel cell technology announced a government project award. The stock had run up 26% over the previous three sessions (). The company said it was selected by the U.S. Department of Energy for an $8 million funding award to design and make a SureSource electrolysis platform capable of producing hydrogen. "This project represents a key step in FuelCell Energy's path to commercialize its high efficiency solid oxide electrolysis technology," the company said in a statement. The stock has slipped 5.2% year to date through Thursday, while the S&P 500 has gained 6.7%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
October 09, 2020 08:10 ET (12:10 GMT)
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