Why FuelCell Energy (FCEL) Stock Is Up Today

What Happened?

Shares of carbonate fuel cell technology developer FuelCell Energy (NASDAQ:FCEL) jumped 3% in the afternoon session after the company announced a strategic collaboration with Sustainable Development Capital LLP (SDCL) to explore deploying up to 450 megawatts of its fuel-cell power systems. 

The partnership aimed to support the growing power needs of data centers and other critical applications around the world. This move addressed the increasing energy demands driven by artificial intelligence (AI), which is causing a fundamental shift in how data center power systems are designed. The collaboration highlighted the need for reliable and scalable on-site power generation to handle the constant, high-intensity workloads that AI requires.

After the initial pop the shares cooled down to $8.92, up 3.2% from previous close.

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What Is The Market Telling Us

FuelCell Energy’s shares are extremely volatile and have had 85 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

FuelCell Energy is up 9.1% since the beginning of the year, but at $8.92 per share, it is still trading 22% below its 52-week high of $11.43 from October 2025. Investors who bought $1,000 worth of FuelCell Energy’s shares 5 years ago would now be looking at an investment worth $17.19.

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