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Dec 1, 2021
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Back in 2019 on the brink of bankruptcy, FuelCell Energy signed a deal with Exxon that granted Exxon “a worldwide, non-exclusive, royalty-free, perpetual, irrevocable (except as set forth in the JDA), sub-licensable, non-transferable (except as set forth in the JDA), right and license to practice Program Results solely for power generation and hydrogen applications.” (Source
So while Exxon is gaining credit for “their” fuel cell technology and carbon capture efforts, it's really been FuelCell Energy doing it.
FCEL has other tech outside of carbon capture and storage, but it is their “creme de la creme” — and they won't see any profit from it so long as Exxon pursues carbon capture.
Yes, I know this was a desperation move on FCEL's end and they're responsible, I just feel like this is important information to share for current or potential shareholders of FCEL.
What are your thoughts?
Disclaimer: I'm long on FCEL and got in a couple years back.