BNET Industries

Market Cap:$228.4M
Last Fiscal Year Sales:$100.7M
- Public
Dow Jones Description
FuelCell Energy is the world leader in the development and production of stationary fuel cells for commercial, industrial, government, and utility customers. FuelCell Energys ultra-clean and high efficiency DFC ® power plants are generating power at approximately 50 locations worldwide. The Companys power plants have generated more than 275 million kWh of power using a variety of fuels including renewable wastewater gas, biogas from beer and food processing, as well as natural gas and other hydrocarbon fuels. Our Company was founded in 1969. Our core fuel cell products (Direct FuelCell ® or DFC ® Power Plants) offer stationary power generation applications for customers. In addition to our commercial products, we continue to develop our carbonate fuel cells, planar solid oxide fuel cell (SOFC) technology and other fuel cell technology with our own and government research and development funds.
Chairman, President & CEO
Daniel BrdarNumber of Employees 534
Contact Information
Peer Companies
NAICS Code All Other Miscellaneous Electrical Equipment and Component Manufacturing: 335999
Recent Events
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FuelCell finalizes deal with Posco
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U.S. Army renews contract with hydrogen power plant co. FuelCell for $1.5M
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FuelCell Energy Received $1.9 In Funding From Energy Department FCEL
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FuelCell Energy Awarded $1.9 Million From American Recovery and Reinvestment Act Funds
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FuelCell Energy posts slightly higher revenue
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www.PicksThatMove.com: "Picks that move" Alerts, August 27, 2009: FCEL, FMBI, CLNE, TMRK, DRRX and POZN.
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FuelCell Finally Getting Fired Up?
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POSCO Power Orders 30.8 MW of FuelCell Energy Modules and Components With Estimated Value of...
News & Analysis
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fuelcell energy inc. - All News and Analysis
FuelCell Energy, Inc. F3Q09 (Qtr End 07/31/09) Earnings Call Transcript
Question-and-Answer Session Operator Thank you. Operator Instructions Your first question comes from [Julie Kutu] – Simmons and Company. [Julie Kutu] – Simmons and Company With the new cost-reduced product that you’ve been producing this quarter, do you have a target or expectation on the magnitude that that’ll impact your...
FuelCell Energy, Inc. F2Q09 (Qtr End 04/30/09) Earnings Call Transcript
FuelCell Energy, Inc. FCEL Q2 2009 Earnings Call June 9, 2009 10:00 am ET
FuelCell Energy, Inc. F2Q09 (Qtr End 04/30/09) Earnings Call Transcript
Question-and-Answer Session Operator Operator Instructions Your first question comes from the line of Michael Lew – Think Equity Michael Lew – Think Equity First congratulations on the order from POSCO, also I wanted to clarify, is the composition, is it all for megawatt-class or the 2.8 MW...
FuelCell Energy Inc. F1Q09 (Qtr End 1/31/09) Earnings Call Transcript
Question-and-Answer SessionOperator Operator Instructions Your first call comes from Sanjay Shrestha – Lazard Capital Markets. Sanjay Shrestha – Lazard Capital Markets What exactly changes their decision? Is this sort of like the early signs of benefit that we're going to start to see from the stimulus package because this...
FuelCell Energy, Inc. F4Q08 (Quarter End 10/31/08) Earnings Call Transcript
Question-and-Answer Session Operator Operator Instructions Our first question comes from Michael Lew – Thinkequity, LLC. Michael Lew – Thinkequity, LLC. The question I had is that while FuelCell should benefit from increased market adoption based on the public policy incentives and you’ve talked about the current potential...
FuelCell Inc. Q3 2008 Earnings Call Transcript
Question-and-Answer Session Operator Thank you, sir. Operator Instructions. And for our first question, we go to John Quealy with Canaccord Adams. Chip Moore Thanks, sir. This is Chip Moore for John. I’d like to start with the $2 million charge really to the manufacturing defect. Is that all in-house...
FuelCell Falls as Alternative Energy Fad Fades
Stephanie Grimmett submits: FuelCell Energy FCEL fell 13% and counting yesterday on news that its loss widened in the third quarter see earnings call transcript. But FuelCell’s stock is suffering, not from bad quarterly results, but from the deflation of a "fashionable investment" bubble. In the last year, alternative energy...
FuelCell Inc F2Q08 (Qtr End 4/30/08) Earnings Call Transcript
Question-and-Answer SessionOperator Operator Instructions We will take our first question from John Quealy with Canaccord Adams; please go ahead. John Quealy - Canaccord Adams Joe I don’t know if you did this or not; could you breakout Q2 revenues for us and give us the moving...
FuelCell Energy Inc. F1Q08 (Qtr End 01/31/08) Earnings Call Transcript
Question-and-Answer SessionOperator Thank you sir. The question-and-answer session will be conducted electronically. Operator instructions And our first question comes from Sanjay Shrestha with Lazard Capital Markets. Sanjay Shrestha - Lazard Capital Markets Great. Good morning, guys. First of all, congratulations here on a good backlog front and the outlook....
In- Depth Research on FuelCell Energy Inc.
M2 PRESSWIRE-4 June 2007-Resource News: In- Depth Research on FuelCell Energy IncC1994-2007 M2 COMMUNICATIONS LTD RDATE:04062007 In- Depth Research on FuelCell Energy Inc (NASDAQ:FCEL) FuelCell Energy is the world leader in the development and production of stationary fuel cells...
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Decision Makers
| Name (plus bio) | Position |
|---|---|
| Christopher R. Bentley | Chief Operating Officer |
| Hansraj C. Maru | CTO |
| Joseph G. Mahler | Senior Vice President, CFO, CS, Treasurer |
| Christof von Branconi | Executive Vice President |
| Bruce A. Ludemann | Senior Vice President, Sales & Marketing |
| Herbert Nock | Senior Vice President, Marketing & Sales |
| Lisa D. Lettieri | Vice President, Ir & Corp Comm |
| John A. Rolls | Managing Partner |
| Alex Kellogg | Engineer |
| James L Kempner | Director |
| Warren D. Bagatelle | Director |
Board of Directors
| Name (plus bio) | Position |
|---|---|
| Daniel Brdar | Chairman, President & CEO |
| R. Daniel Brdar | Chairman, President & CEO |
| James D. Gerson | Chairman |
| George K. Petty | Board of Directors |
| Glenn H. Epstein | Board of Directors |
| Herbert England James | Board of Directors |
| J. H. England | Board of Directors |
| Michael Bode | Board of Directors |
| Richard A. Bromley | Board of Directors |
| Thomas L. Kempner | Board of Directors |
| Togo Dennis West | Board of Directors |
| William A. Lawson | Board of Directors |
R. DANIEL BRDAR named FuelCell Energy’s Chief Executive Officer at the start of 2006, Mr. Brdar was appointed Chairman of the Board in 2007. Mr. Brdar has an extensive track record as a member of the company’s management team. Since joining the firm in 2000, he has led manufacturing, sales and marketing, and product development operations, and was responsible for the FuelCell Energy’s successful cost-out efforts. Mr. Brdar has 24 years of combined technology development and new product introduction experience in a variety of executive positions within the industry. Prior to joining FuelCell Energy, he held management positions at General Electric, where he focused on new product introduction programs for its GE Power Systems business unit, and was product manager for its gas turbine technology. Prior to GE he was Associate Director, Office of Power Systems Product Management, at the U.S. Department of Energy where he was responsible for directing the research, development and demonstration of advanced power systems including advanced gas turbines, gasification systems and fuel cells. He earned his Bachelor of Science Degree in Engineering from the University of Pittsburgh in 1981.
| Organization | Position | Status |
|---|---|---|
| FuelCell Energy, Inc. | Chairman, President & CEO | Current |
| FuelCell Energy, Inc. | Vice President, Product Development | Former |
| University of Pittsburgh | B.S. In Engineering | Former |
Named FuelCell Energy's Chief Executive Officer at the start of 2006, and Chairman in January 2007, Mr. Brdar has an extensive track record as a member of the company's management team. During his tenure, he led manufacturing, sales and marketing, and product development operations, and was responsible for the company's successful cost-out efforts. Mr. Brdar has 24 years of combined technology development and new product introduction experience in a variety of executive positions around the industry. Prior to joining FuelCell Energy, he held management positions at General Electric, where he focused on new product introduction programs for its GE Power Systems business unit, and was product manager for its gas turbine technology. Prior to GE he was Associate Director, Office of Power Systems Product Management, at the U.S. Department of Energy where he was responsible for directing the research, development and demonstration of advanced power systems including advanced gas turbines, gasification systems and fuel cells. He earned his Bachelor of Science Degree in Engineering from the University of Pittsburgh in 1981.
| Organization | Position | Status |
|---|---|---|
| FuelCell Energy, Inc. | Chairman, President & CEO | Current |
| FuelCell Energy, Inc. | Board of Directors | Current |
| University of Pittsburgh | Bachelor of Science Degree in Engineering | Former |
| Organization | Position | Status |
|---|---|---|
| FuelCell Energy, Inc. | Chief Operating Officer | Current |
| Zeep Energy Ltd | Executive Vice President | Current |
| Versa Power Systems, Inc. | Board of Directors | Current |
| FuelCell Energy, Inc.-Manufacturing | President | Former |
| FuelCell Energy, Inc. | Executive Vice President, Govt R & D Operations & Strategic Manufacturing Dev | Current |
| Chromalloy Gas Turbine Corporation | Former | |
| Tufts University | B.S. In Mechanical Engineering | Former |
| Organization | Position | Status |
|---|---|---|
| FuelCell Energy, Inc. | CTO | Current |
| Farmers Cooperative Equity Co. | Former |
Mr. Mahler joined the Company in October 1998 as Vice President, Chief Financial Officer, Corporate Secretary, and Treasurer. Mr. Mahler's responsibilities include finance, accounting, corporate governance, strategy, treasury, information systems and human resources. Mr. Mahler was Vice President-Chief Financial Officer at Earthgro, Inc. from 1993 to 1998 and worked at Ernst & Young in the New York and Hartford offices from 1974 to 1992. Mr. Mahler was a partner in the Hartford office's Entrepreneurial Services Group. Mr. Mahler received a B.S. in Accounting from Boston College in 1974.
| Organization | Position | Status |
|---|---|---|
| FuelCell Energy, Inc. | Senior Vice President, CFO, CS, Treasurer | Current |
| Zeep Energy Ltd | Senior Vice President of Corporate Strategy, Cfo and Treasurer | Current |
| Versa Power Systems, Inc. | Chairman | Current |
| FuelCell Energy, Inc. | Treasurer | Current |
| FuelCell Energy, Inc. | Vice President | Former |
| Ernst & Young | Former | |
| Boston College | B.S. In Accounting | Former |
| Organization | Position | Status |
|---|---|---|
| FuelCell Energy, Inc. | Executive Vice President | Current |
| FuelCell Energy, Inc. | Board of Directors | Current |
| Lurgi AG | Chief Operating Officer | Former |
| The Commercial | Chief Financial Officer | Former |
Mr. Ludemann joined the Company in April 2006. His responsibilities encompass all the Company's business development activities across global markets. Prior to joining the Company, Mr. Ludemann had been a senior marketing and sales executive with Siemens, where he oversaw sales and marketing efforts for the firm's Power Generation and Transmission & Distribution business units. Earlier, he had been with ABB Power Transmission & Distribution Inc.; the industrial control firm Square D; and Swiss electrical equipment manufacturer BBC Brown Boveri. He also served four years in the U.S. Navy specializing in electric power generation and distribution systems. Mr. Ludemann studied business at Barry University in Miami and holds an Executive MBA from the University of Pittsburgh.
| Organization | Position | Status |
|---|---|---|
| FuelCell Energy, Inc. | Senior Vice President, Sales & Marketing | Current |
| Zeep Energy Ltd | Senior Vice President of Sales & Marketing | Current |
| University of Pittsburgh | MBA | Former |
| Organization | Position | Status |
|---|---|---|
| FuelCell Energy, Inc. | Senior Vice President, Marketing & Sales | Current |
| Organization | Position | Status |
|---|---|---|
| FuelCell Energy, Inc. | Vice President, Ir & Corp Comm | Current |
| Organization | Position | Status |
|---|---|---|
| Select Sector Spdrs | President and Chief Executive Officer, Thermion Systems International | Current |
| MBIA Inc. | President and Chief Executive Officer, Thermion Systems International | Former |
| Core Capital Group | Managing Partner | Current |
| Core Capital Group, LLC. | Managing Partner | Current |
| FuelCell Energy, Inc. | Managing Partner | Current |
| Thermion, Inc. | Director | Current |
| Select Sector Spdrs | Board of Directors | Current |
| Thermion Systems International, Inc. | Director | Current |
| MBIA Inc. | Director | Current |
| FuelCell Energy, Inc. | Director | Current |
| Bowater Incorporated | Director | Current |
| Thermion Systems International, Inc. | Chief Executive Officer | Former |
| Thermion Systems International, Inc. | President | Former |
| United Technologies Corporation | Chief Financial Officer | Former |
| United Technologies Corporation | Executive Vice President | Former |
| Abitibibowater Inc. | Chairman | Former |
| Bowater Incorporated | Chairman | Former |
| Abitibibowater Inc. | Board of Directors | Former |
Alex graduated from UConn in the Sping of 2008 with a BS in Chemical Engineering, and is currently working as a process engineer at Fuel Cell Energy. He has been dancing on the team since his sophomore year in 2005. In 2006 he held the position of team trainer, and in his senior year Alex held the position of President. One of Alex's passions is music, and one of the reasons he enjoys ballroom dancing is that it allows him to dance to the music he loves so much.
| Organization | Position | Status |
|---|---|---|
| FuelCell Energy, Inc. | Engineer | Current |
| Uconn Ballroom Dance | Board of Directors | Current |
| Uconn Ballroom Dance | President | Former |
| Uconn Ballroom Dance | BS In Chemical Engineering | Former |
| Organization | Position | Status |
|---|---|---|
| FuelCell Energy, Inc. | Chairman | Current |
| Evercel, Inc. | Chairman of the Board | Current |
| FuelCell Energy, Inc. | Director | Current |
| Ilight Technologies, Inc. | Director | Current |
| Ciprico, Inc. | Director | Current |
| V.E. Enterprises Inc. | Director | Current |
| Gambit Communications, Inc. | Board of Directors | Current |
| American Power Conversion Corporation | Director | Current |
| Oppenheimer & Co. Inc. | Vice President | Former |
| Columbia University | MBA | Former |
| American Power Conversion Corporation | Member | Former |
| Organization | Position | Status |
|---|---|---|
| Enbridge, Inc. | Corp Director | Current |
| Enbridge Energy Partners LP | boards of directors | Current |
| Enbridge, Inc. | Chair of the Governance Committee | Current |
| Enbridge Energy Management, L.L.C. | Board of Directors | Current |
| FuelCell Energy, Inc. | Board of Directors | Current |
| Enbridge Energy Company, Inc. | Board of Directors | Current |
| Enbridge, Inc. | Member of the Corporate Social Responsibility Committee | Current |
| TELUS Corporation | Chief Executive Officer | Former |
| TELUS Corporation | President | Former |
| Eeci, Inc. | Elected A Director | Former |
| Enbridge, Inc. | Director | Former |
Mr. Epstein began his career as an engineer at General Electric before moving to the U.K. to take on progressive management roles with Oxford Instruments plc. He was recruited to Intermagnetics in 1997 as President and COO, took over as CEO in 1999 and was elected Chairman in 2002. Mr. Epstein led Intermagnetics through multiple years of high growth and expansion until negotiating the sale of Intermagnetics to Royal Philips for $1.3 billion last year. He recently left Philips after leading a successful integration of both companies MR imaging businesses.
| Organization | Position | Status |
|---|---|---|
| FuelCell Energy, Inc. | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| FuelCell Energy, Inc. | Board of Directors | Current |
Mr. England is an independent business consultant and the CEO and a director of Stahlman-England Irrigation Inc. and HEMS, LLC, an investment partnership. Previously, Mr. England was Chairman, President and CEO of Sweet Ripe Drinks, Ltd., a fruit beverage company. Prior to that, he spent 18 years at John Labatt Ltd., a $5 billon public company, and served as the company's CFO from 1990-1993. Mr. England started his career with Arthur Anderson & Co. in Toronto after serving in the Canadian infantry. Mr. England is a director of Enbridge, Inc. and is a past member of the board of directors of John Labatt Ltd., Canada Malting Co., Ltd., and the St. Clair Paint and Wallpaper Corporation.
| Organization | Position | Status |
|---|---|---|
| FuelCell Energy, Inc. | Board of Directors | Current |
James L. Kempner has served on our Board of Directors since August 2006. Mr. Kempner is a Managing Director at Lazard Freres & Co. LLC, which he joined in 1983, and was named a General Partner in 1993. Mr. Kempner has been involved in numerous banking and capital markets transactions, including advising Intersections on its initial public offering, and ran Lazard s Corporate Finance department from 1995-1998. Mr. Kempner serves on the Board of The New York Eye and Ear Infirmary and its Finance Committee. Mr. Kempner is the son of Thomas L. Kempner. Thomas L. Kempner has served on our Board of Directors since the inception of CreditComm, the predecessor to Intersections Inc. Mr. Kempner has been Chairman and Chief Executive Officer of Loeb Partners Corporation and its predecessors since 1979. Mr. Kempner is currently a director of Dyax Corporation, FuelCell Energy, Inc. and IGENE Biotechnology, Inc., and is currently a director emeritus at Northwest Airlines, Inc. Mr. Kempner is the father of James L. Kempner.
| Organization | Position | Status |
|---|---|---|
| Loeb Partners Corporation | Chief Executive Officer | Current |
| Intersections Inc. | Managing Director at Lazard Freres | Current |
| Loeb Partners Corporation | Chairman | Current |
| CCP Equity Partners | Director | Current |
| FuelCell Energy, Inc. | Director | Current |
| Igene Biotechnology, Inc. | Director | Current |
| Intersections Inc. | Board of Directors | Current |
| Diversinet Corp. | Director | Current |
| Harvard University | M.B.A. | Former |
| Yale University | B.A. | Former |
| Organization | Position | Status |
|---|---|---|
| FuelCell Energy, Inc. | Board of Directors | Current |
| Biomedical Venture | Board of Directors | Current |
Richard Bromley began his career at the law firm of Riddell, Riddell & Williams in Seattle, Washington, before joining AT&T in 1965. During his 38-year career at AT&T, he served as an attorney for Pacific Northwest Bell, Western Electric, Bell Labs, and as a general attorney in AT&T's New York headquarters. As VP-Law and Government Affairs, Mr. Bromley was responsible for all of AT&T's legal, regulatory and governmental matters west of the Mississippi. He is a member of the bar in California, New York, Washington, and Oregon, as well as the United State Supreme Court.
| Organization | Position | Status |
|---|---|---|
| FuelCell Energy, Inc. | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| Pinpoint Partners | President | Current |
| Loeb Holding Corporation | President | Current |
| Intersections Inc. | Beneficial Owner | Current |
| Central Park Conservancy, Inc | Chairman (Click On Pdf to View Board List) | Current |
| FuelCell Energy, Inc. | Board of Directors | Current |
| Intersections Inc. | Director | Current |
| Insight Communications Company, Inc. | Director | Current |
| Diversinet Corp. | Director | Current |
| CCP Equity Partners | Director | Current |
| CCC Information Services, Inc. | Director | Current |
| Igene Biotechnology, Inc. | Vice Chairman of the Board of Directors | Current |
| Hereditary Angioedema | Board of Directors | Current |
| Igene Biotechnology, Inc. | Director | Current |
| Dyax Corp. | Director | Current |
| Wharton Investment Management Conference | Executive Managing Member, Davidson Kempner Capital Management | Current |
| Central Park Conservancy, Inc | Trustee | Current |
| Loeb Partners Corporation | Chief Executive Officer | Current |
| Hereditary Angioedema | Chairman and Chief Executive Officer, Loeb Partners Corporation | Former |
| First City Capital | Vice President | Former |
| Loeb Partners Corporation | Vice President | Former |
| Loeb Partners Corporation | Chairman | Current |
| Intermagnetics General Corporation | Director | Former |
| Northwest Airlines Corporation | Director | Former |
| Yale College | Former | |
| Insight, Inc. | member | Former |
In the administration of President Gerald R. Ford, Secretary West was Associate Deputy Attorney General in the U.S. Department of Justice. Under President Jimmy Carter’s administration, he was General Counsel of the Navy, then Special Assistant to the Secretary and the Deputy Secretary of Defense, and, later, General Counsel of the Department of Defense. During the first Clinton administration he was Secretary of the Army and, during the President’s second term, was named Secretary of Veterans Affairs and a member of the President’s Cabinet. During his career in private practice, Secretary West was a partner at the New York law firm of Patterson, Belknap, Webb and Tyler and was of counsel to the Washington D.C.- based law firm of Covington & Burling. Secretary West was also the Senior Vice President for Government Affairs with defense contractor Northrop Corporation prior to serving as Secretary of the Army. Secretary West received a Bachelor o
| Organization | Position | Status |
|---|---|---|
| FuelCell Energy, Inc. | Board of Directors | Current |
Mr. Bagatelle has served as a Director since 2004. He is currently Chairman of the Audit and Finance Committee and a member of the Corporate Governance and Nominating Committee. He has been a Managing Director of Loeb Partners Corporation, an investment banking firm, and a director of Full Cell Energy, Inc. (Nasdaq: FCEL), a world leader in the development of high temperature hydrogen fuel cells for clean electric power generation, since 1988. Mr. Bagatelle is also the Chairman of the Board of VirtualScopics, Inc. (Nasdaq: VSCP), a medical imaging and technology services company.
| Organization | Position | Status |
|---|---|---|
| Loeb Partners Corporation | Managing Director | Current |
| FuelCell Energy, Inc. | Director | Current |
| Electro Energy Inc. | Member of the Board of Directors | Current |
| VirtualScopics, Inc. | Chairman | Former |
| Rutgers University | M.B.A. | Former |
Mr. Lawson has been President of W.A. Lawson Associates, an industrial and financial consulting firm, since 1987. Mr. Lawson is past Chairman of the Board of Directors of Newcor, Inc.
| Organization | Position | Status |
|---|---|---|
| FuelCell Energy, Inc. | Board of Directors | Current |
| FuelCell Energy, Inc. | Chairman | Former |
| Newcor, Inc. | Chairman | Former |
| Evercel, Inc. | Director | Former |
Executive News
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FuelCell Energy Reports Third Quarter 2009 Results and Latest Accomplishments
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FuelCell Energy Reports Third Quarter 2009 Results and Latest Accomplishments
| Volume | 436,124 |
| Shares Outstanding | 70.3M |
| Market Cap | 228.4M |
| Year High | 5.47 |
| Year Low | 1.98 |
| Earnings Per Share | -1.15 |
| P/E Ratio | N/A |
| Dividend | 0.00 |
| Yield | 0.00 |
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