FCEL, XOM: FuelCell Energy Inc Gets a Jolt From Exxon Mobil Corporation Deal

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William White Investorplace

Published

May 5, 2016 11:00AM EDT

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FuelCell Energy Inc ( FCEL ) stock jumped on Thursday following news of a deal with Exxon Mobil Corporation ( XOM )

The deal will have the two companies working on research that will focus on power plant carbon dioxide capture via a new use of carbonate fuel cells. The process could allow for better carbon dioxide separation and capture while increasing energy output.

FCEL claims that the new process can reduce nitrogen oxide, which produces smog, by 70% when used with large-scale natural gas power plants. The research will seek to find if the new system could reduce costs associated with carbon capture by one-third.

The agreement between FuelCell Energy and Exxon Mobil will have them spending the fist one to two years of research focusing on ways to continue increasing the efficiency of separating and concentrating carbon dioxide from natural gas power turbines.

FCEL shares were up 10% as of Thursday morning

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