FuelCell Energy inks a deal with U.S. Army Engineer Research and Development Center
Manufacturer of high temperature hydrogen fuel cells FuelCell Energy Inc., (Nasdaq: FCEL) reported before the opening bell Wednesday that received approval to scale up a product that separates hydrogen from a gas mixture while generating electricity.
The Danbury, C.T.-based company said it developed a electrochemical hydrogen separation system for the U.S. Army Engineer Research and Development Center's Construction Engineering Research Laboratory. FuelCell says its system enables the pure, extracted gas to be sold as fuel for hydrogen vehicles or for industrial uses.
The $1.225 million Phase II contract, supported in part by the U.S. Department of Defense, is expected to be complete by mid-2008.
Shares of Fuelcell climbed 3.43%, or $0.28, to $8.45 in pre-market trading Wednesday.
