FuelCell Energy Announces Debt Financing Deals for Fuel Cell Projects in Connecticut
New Funds Incoming
FuelCell has entered into debt financing deals with two local lenders for its fuel cell projects. Liberty Bank and Connecticut Green Bank will provide a total of $13 million, with different facilities and terms.
The funds, amounting to $11.6 million after accounting for transaction fees, will support the development of a 14-megawatt and a 2.8-megawatt fuel cell project in Connecticut.
Effective, Inexpensive, and Useful
FuelCell Energy's CFO expressed confidence in the performance of the company's fuel cell platforms due to the efficient and cost-effective financing provided by the banks.
Should You Invest in FuelCell Energy?
Despite the positive developments, investors may want to consider other stock options recommended by The Motley Fool Stock Advisor team for potential higher returns in the future.
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