First and foremost, FuelCell Energy is a comapny that’s innovating the way in the carbon capture fuel cell industry. However, the industry, and technology that it surrounds, is very young.
As a young technology, there are several kinks that need to be worked out in the carbon capture world for it to work well as a large, industrial scale solution. Considering this, further research and development is needed to perfect the technology.
At this stage of the game, partnering with leaders in the energy industry that have incredibly deep pockets is a great way to stay ahead of the curve in terms of innovation. With the partnership between FCEL and XOM in mind, the company now has very strong financial and operational backing when it comes to the development of larger-scale fuel cell solutions.
So, not only does this partnership open the door to potential revenues, it will help FCEL to gain a competitive edge through the development of large-scale technologies that aren’t available in today’s marketplace. All in all, this is a key partnership for the company.
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