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FuelCell Energy Inc ( FCEL ) stock jumped on Thursday following news of a deal with Exxon Mobil Corporation ( XOM )
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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The post FCEL, XOM: FuelCell Energy Inc Gets a Jolt From Exxon Mobil Corporation Deal appeared first on InvestorPlace .
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.