FuelCell Energy
stock jumped Monday after the producer of units that make electricity from hydrogen announced a partnership with energy giant
Exxon Mobil.
In a news release Monday,
Exxon Mobil
said its affiliate, Esso Nederland BV, plans to build a pilot plant at its Rotterdam Manufacturing Complex to test a type of technology that could reduce CO2 emissions from different industries.
“The pilot plant aims to obtain data on performance and operability of the carbonate fuel cell technology, jointly developed with
FuelCell
Energy,” the news release said.
Shares of FuelCell were up 5.3% to $1.62. Coming into the session, the stock has dropped 45% this year. Exxon Mobil stock was up 1.4%.
FuelCell is expected to report fiscal fourth-quarter earnings before the opening bell on Tuesday.
Write to Angela Palumbo at [email protected]
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