FuelCell Energy Inc (NASDAQ: FCEL) is screaming for the top in the market this morning, following up on the strong gains that we’ve seen from the stock as of late. However, as has been the case in recent sessions, the gains can’t be explained by an analysis of a press release or SEC filing. The company hasn’t issued any news.
Nonetheless, with a clean energy boom coming, there’s good reason to be excited about FCEL stock.
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FCEL Stock Keeps Piling The Gains On
As mentioned above, FuelCell Energy is screaming for the top in the market this morning with no news to back up the move. However, recently FCEL hasn’t needed to issue any news. Excitement surrounding a coming clean energy boom is news enough.
Keep in mind, the next President of the United States will be Joe Biden, a man who has been overwhelmingly outspoken about the devastating environmental effects of the burning of fossil fuels. As a result, Biden has aggressive plans to combat the growing carbon footprint by focusing on clean, renewable energy and transportation.
This bodes well for any company in the clean energy space, and FCEL isn’t just in the space, it’s carving a niche that may soon become a cornerstone in clean energy from both a utilities and a transportation perspective.
FuelCell Energy is an innovative leader in the area of carbon capture and fuell cell technology. Ultimately, the company uses hydrogen to create clean energy. Moreover, the company has technology capable of producing the carbon needed to generate the energy. To add icing to the cake, the company’s carbon capture technology has garnered quite a bit of attention for use in nuclear power plants.
Going forward, transportation is going to become a big part of feul cell plays like FCEL stock. Hydrogen fuel cells may be the newest way to power vehicles, and has garnered attention from a massive company you likely know, ExxonMobil, a company that’s creating a fuel cell consortium for further research and perfection of the technology, which happens to include FuelCell Energy.
However, that’s not the only big name interested in FCEL either. In the past, the company has successfully completed projects for Pfizer, Toyota, and even the United States Armed Forces. It has also been the subject of multiple grants from the United States Department of Defense.
So, it’s clear that FuelCell Energy is indeed an innovative leader in the fuel cell and carbon capture technology space. So, with Joe biden coming into office, there’s a strong chance that the company will benefit from further grants, tax benefits, and legislation pushing consumers, both large and small, toward clean energy.
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The Bottom Line
FuelCell Energy is no new company. Over the years, the company has innovated new technologies that could very well become cornerstones in the clean energy world that’s likely ahead. Now, is the time for the company to shine.
With the incoming leader of the Free World behing set on improving the energy infrastructure and changing the way we see energy, it only makes sense that clean energy plays are a great investment target. Moreover, with FCEL being the decisive leader in the fuel cell and carbon capture technology space, it’s hard to ignore the opportunity the stock provides.
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