FuelCell (NASDAQ:FCEL) stock is in the news Wednesday as investors learn that the fuel cell energy company will be taking part in a U.K. study.
According to a press release from FuelCell, it has been contracted by EDF Energy to take part in a study evaluating hydrogen and nuclear energy. That will see it work alongside the Bay Hydrogen Hub consortium.
That study will result in FuelCell’s electrolyzer being analyzed for use at the nuclear power plant in Heysham. This is part of the Bay Hydrogen Hub project that seeks to decarbonize the asphalt industry via hydrogen made at this site.
Jason Few, president and CEO of FuelCell, said the following about the news:
“Solid oxide electrolysis is ideal for producing hydrogen from nuclear power sources. The already high efficiency of solid oxide electrolysis systems can be raised even higher using waste heat from the nuclear power plant, lowering the cost per kilogram of the hydrogen produced.”
FCEL Stock Movement Today
Despite news of FuelCell taking part in the U.K. study, the company’s shares aren’t seeing much movement on Wednesday. Only about 95,000 shares have changed hands as of this writing. That’s still well below its daily average trading volume of about 11.4 million shares.
FCEL stock is up 1.1% as of Wednesday morning but was down 47.7% year-to-date as of yesterday’s close.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
