For decades, fuel cells have captivated the attention of innovators and investors alike. And why not? Fuel cells can generate electricity with low to no emissions and have many applications, from utilities to fuel cell vehicles. Their potential as a clean energy source and a storage of power is immense. Yet fuel cell companies of all kinds are largely struggling to become profitable. With the costs of renewable power and fuel cells falling, has the time finally come for fuel cell makers?
Let's take a closer look at a longtime player in the fuel cell segment, FuelCell Energy (NASDAQ: FCEL) . The company's stock has fallen 45% so far this year and is 78% off its 2021 high price. Let's see if the stock's fall presents a buying opportunity.
FuelCell Energy offers carbonate fuel cell products that generate electricity from natural gas or biogas. The company's fuel cells reform the input fuel inside the fuel cell itself to generate hydrogen, which then produces power through an electrochemical process. This is a much cleaner way to generate power than burning the fuel directly.
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FuelCell Energy Stock Is Down 45% This Year. Time To Buy?