FuelCell Partners with Exxon on Carbon Capture Tech, But Investors Remain Wary
• FuelCell Energy announced a partnership with ExxonMobil to test carbonate fuel cell technology for carbon capture
• The technology uses methane to generate electricity and heat while capturing some CO2 emissions
• FuelCell stock initially surged 15% on the news but later gave back most gains, closing up just 2.9%
• Investors may be impatient given FuelCell's 25 years without profitability
• The announcement lacked revenue projections or profitability promises for the new technology