FuelCell Energy +4% as Cowen lauds carbon capture technology
Seeking Alpha
Published Sep 19, 2017 02:50PM ET
FuelCell Energy +4% as Cowen lauds carbon capture technology
- FuelCell Energy (FCEL +4.1%) moves sharply higher after Cowen analyst Jeffrey Osborne says Exxon Mobil 's (XOM +0.1%) foray into carbon capture and storage technology with the company is "making progress."
- The technology, which has moved from the lab to a commercial test at a power plant in Alabama, could be licensed globally to help countries reach greenhouse gas reduction targets, Cowen says, viewing "a successful launch of this technology, albeit in the outer years, as material to the outlook for natural gas demand."
- Capturing 90% of the emissions at just 1% of U.S. coal plants would require 2,160 MW of fuel cells, equal to ~$6.5 B in sales and $9.7B in service revenue, Osborne estimates; FCEL's total sales in FY 2016 were just $108M.
- Now read: Why Not Buy This 3.9% Yielding Blue-Chip Energy Company For A DGI Portfolio?
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