FuelCell Energy Inc (NASDAQ: FCEL) is climbing in the market early this morning, following up on the tremendous gains that we’ve seen out of the stock as of late. As has been the case of the past few days, no new news has broke out of FCEL stock, but the excitement continues. The big question is… Why?
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Here’s Why FCEL Stock Is Climbing
Well, the excitement surrounding FCEL stock has to do with a coming change in tides in how the world views energy, and FuelCell Energy’s leadership position in the hydrogen fuel cell and carbon capture industry.
So, what’s so exciting?
A lot of the excitement comes from the fact that Joe Biden won the United States Presidential Election.
Throughout the past several years, Joe Biden has been a proponent of clean energy as a way to combat climate change. Through the years, he has pushed for legislative changes that would provide benefits to product and service providers in the clean energy industry, as well as the consumers that take advantage of those products and services.
As a result, Joe Biden is the best choice for FCEL and its investors.
However, the excitement surround FuelCell Energy goes far beyond Joe Biden.
FCEL Would Have Done Well Either Way
Even if President Trump would have won his bid for re-election, and tax benefits, grants, and other government perks weren’t likely in the years ahead, I believe FuelCell Energy would have done just fine on its own.
Over the past several years, the company has been perfecting its technology, and now provides the most effective fuel cell and carbon capture options on the market. Considering that many believe that these solutions will soon find their way across the electric utilities and transportation spaces, FCEL is well positioned to capitalize on the opportunity.
And it has done well doing so thus far.
In fact, FCEL has been at the center of grants issued by the Department of Defense, has built power plants for the Navy, has entered into multiple agreements with major companies like ExxonMobil (NYSE: XOM), Pfizer (NYSE: PFE), and Toyota, and has executed exceptionally on all of these agreements to date.
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The Bottom Line
The bottom line here is simple. FuelCell Energy is the right company, at the right time. The company is the cornerstone in the hydrogen fuel cell and carbon capture industries at a time when these industries are likely to see various perks from the United States Government and governments around the world.
At the same time, FCEL and its technology have been validated time and time again by the government grants and contract awards from some of the world’s largest companies.
All in all, if you’re not paying close attention to FCEL stock at the moment, you’re likely missing a huge opportunity.
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