NASDAQ: FCELB
FUELCELL ENERGY INCCIK 0000886128 · Electrical Industrial Apparatus
This Annual Report on Form 10-K contains statements that the Company believes to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “PSLRA”). All statements other than statements of historical fact included in this Form 10-K, including… About this business →
Summary not yet generated.
Summary not yet generated.
Partner
Trade FCELB commission-free
Open an account, get a free stock.
Investing involves risk. Free stock terms apply.
Summary not yet generated.
Summary not yet generated.
Summary not yet generated.
Summary not yet generated.
Summary not yet generated.
About FUELCELL ENERGY INC
Source: Item 1 (Business) from the 10-K filed December 18, 2025. Description as filed by the company with the SEC.
Item 1.BUSINESS
Index to Item 1. BUSINESS
Page
Forward-Looking Statement Disclaimer
4
Risk Factor Summary
6
General Information
8
Overview
9
Our Market Opportunity and Value Proposition
9
Our Markets
11
Our Business Strategy
11
Recent Restructuring
12
Our Business Model
12
Our Product Platform and Applications
13
Competition
16
Our Commitment to Sustainability
17
Research and Development
17
Proprietary Rights and Licensed Technology
19
Manufacturing and Service Facilities
20
Raw Material Sourcing and Supplier Relationships
21
Engineering, Procurement and Construction
22
Services and Warranty Agreements
22
Government Regulation and Public Policy
22
Significant Customers
24
Human Capital Management and Development
24
Available Information
25
3
Table of Contents
Forward-Looking Statement Disclaimer
This Annual Report on Form 10-K contains statements that the Company believes to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “PSLRA”). All statements other than statements of historical fact included in this Form 10-K, including statements regarding the Company’s future financial condition, future results of operations, plans, objectives, expectations, future performance, future business operations and business prospects, are forward-looking statements. Words such as “expects,” “anticipates,” “estimates,” “goals,” “projects,” “intends,” “plans,” “believes,” “predicts,” “should,” “seeks,” “will,” “could,” “would,” “may,” “forecast,” and similar expressions and variations of such words are intended to identify forward-looking statements and are included, along with this statement, for purposes of complying with the safe harbor provisions of the PSLRA. Forward-looking statements are neither historical facts, nor assurances of future performance. Instead, such statements are based only on our beliefs, expectations, and assumptions regarding the future. As such, the realization of matters expressed in forward-looking statements involves inherent risks and uncertainties. Such statements relate to, among other things, the following:
Read full description ↓
●the development and commercialization by FuelCell Energy, Inc. and its subsidiaries (“FuelCell Energy,” “Company,” “we,” “us” and “our”) of fuel cell technology and products and the market for such products,
●the expected timing of completion of our ongoing projects,
●our business plans and strategies,
●the markets in which we expect to operate,
●expected operating results such as revenue growth and earnings,
●our belief that we have sufficient liquidity to fund our business operations for the next 12 months,
●future funding under Advanced Technologies contracts,
●future financing for projects, including equity and debt investments by investors and commercial bank financing, as well as overall financial market conditions,
●the expected cost competitiveness of our technology,
●our ability to successfully implement our restructuring plans during the expected timeframe and the expected effects and impacts of the Company’s restructuring plan, and
●our ability to achieve our sales plans, our plans to increase our annualized production rate in the future in connection with sales growth, market access and market expansion goals, and cost reduction targets.
The forward-looking statements contained in this report are subject to risks and uncertainties, known and unknown, that could cause actual results and future events to differ materially from those set forth in or contemplated by the forward-looking statements, including, without limitation, the risks described under