Ryan Pfingst's questions to FUELCELL ENERGY (FCEL) leadership • Q3 2025
Question
Ryan Pfingst from B. Riley Securities questioned the expected timeline for the Inuverse MOU to convert into a firm order and the necessary steps involved. He also sought an update on the next milestones for the carbon capture project with ExxonMobil at the Rotterdam facility.
Answer
Jason Few (Director, President & CEO, FuelCell Energy) explained that Inuverse is securing gas and power supply, and the next step is securing offtake agreements from data center customers, with updates expected in coming quarters. For the ExxonMobil carbon capture project, Few stated that modules are in the conditioning phase for shipment to Rotterdam, with the project expected to be operational in 2026, focusing on module shipment and site COD.