Fuelcell Energy, Inc. · NASDAQ:FCEL
Fuelcell Energy — Corporate Update (February 2021)
25 slides from Fuelcell Energy's corporate update, Feb 16, 2021
Slide 1: Company Update February 2021
Company Update February 2021 Exhibit 99.1
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements with respect to the Company’s anticipated financial results and statements r
Slide 3: FuelCell Energy: A Global Leader in Fuel Cell Technology
FuelCell Energy: A Global Leader in Fuel Cell Technology – Established in 1969 Demand for Clean, Reliable Electricity Driving Adoption of Fuel Cell Technology TOTAL FY 2020 REVENUE BREAKDOWN2: $70.9M Service & License Advanced Technologies Generation Product High Visibility to Recurring Revenue 1 As
Slide 4: Purpose Statement
Purpose Statement 4 Enable The World To Live A Life Empowered By Clean Energy
Slide 5: FuelCell Energy – Technology Overview
5 FuelCell Energy – Technology Overview Fuel cells cleanly and efficiently convert energy in hydrogen rich fuels into electricity and high quality heat The highly efficient electrochemical process emits negligible pollutants since there is no burning of fuel A fuel cell stack is comprised of many in
Slide 6: In-House Fuel Cell Manufacturing Expertise
In-House Fuel Cell Manufacturing Expertise 6 Carbonate Manufacturing Operations (Torrington, CT, USA) Solid Oxide Manufacturing Operations (Calgary, Canada) FuelCell Energy’s advanced manufacturing process utilizes proprietary designs and state-of-the-art manufacturing equipment to produce component
Slide 7: Multi-faceted Benefits of FuelCell Platform
Multi-faceted Benefits of FuelCell Platform Electrochemical conversion of fuel to power reduces emissions, increases efficiency, and improves siting 1 Clean Energy Significant Avoided Carbon Emissions and Negligible Particulates, NOx and SOx 1) Grid emissions rates for NOX and CO2 are from EPA eGrid
Slide 8: Multi-faceted Benefits of FuelCell Platform (Cont.)
Multi-faceted Benefits of FuelCell Platform (Cont.) Attractive Economics & Energy Security Easy to Site Fuel Flexible The compact footprint of a SureSource system is a large differentiating factor, specifically in urban settings where land is limited and / or expensive and the power is most needed B
Slide 9: Global Track Record of SureSource Plants' Reliable Power Generation
Utility-owned, rate-based Enhances resiliency 2.8 MW fuel cell on ¼ acre - ~23,000 MWh/yr. 2.2 MW solar on ~9 acres - ~3,000 MWh/yr. Power sold to grid Enhances resiliency Brownfield revitalization 15 MW on 1.5 acres Only 12 mo. installation Owned by FuelCell 5.6 MW with steam for company campus Pre
Slide 10: Positioned to Serve the Evolving Energy Grid with Current and In-Development Platforms
Positioned to Serve the Evolving Energy Grid with Current and In-Development Platforms a growing source of clean, reliable power for microgrid, Carbon Capture, electrolysis and Hydrogen Energy Storage 10
Slide 11: Unrivaled Technology To Meet Future Energy Requirements
Unrivaled Technology To Meet Future Energy Requirements FuelCell Energy Technology: Winner for Clean Baseload Power 11
Slide 12: Powerhouse Business Strategy: Well Positioned for LT Growth and Value Creation
Powerhouse Business Strategy: Well Positioned for LT Growth and Value Creation Disciplined Plan to Strengthen Business, Maximize Operational Efficiencies and Position FCE for Growth 12 Build a Durable Financial Foundation and Enhance Financial Results Drive Operational Excellence Penetrate Significa
Slide 13: Building on Multi-Featured Current Technology Strengths with Next-Gen Technologies
Building on Multi-Featured Current Technology Strengths with Next-Gen Technologies Commercializing an Advanced Clean Energy Technology Portfolio 13
Slide 14: Providing Flexible Hydrogen Solutions for the Global Energy Transformation
Providing Flexible Hydrogen Solutions for the Global Energy Transformation 14 BLUE HYDROGEN GRID HYDROGEN GREEN HYDROGEN Carbonate Platform Capture Solid Oxide Platform
Slide 15: FuelCell Energy Operating Portfolio and Project Backlog Overview
FuelCell Energy Operating Portfolio and Project Backlog Overview 15 Refers to FCEL fiscal quarter (1) (1)
Slide 16: Relaunched Effort in Europe Including Sub-Megawatt Solutions
Relaunched Effort in Europe Including Sub-Megawatt Solutions 16 International Growth Opportunities Are Expanding, Including A Large Number of Sub-MW Applications Increasing European Distributed Power Generation Demand European SureSource solutions include megawatt scale, as well as sub-megawatt plan
Slide 17: Introduction to Carbon Capture Technology
Introduction to Carbon Capture Technology Disruptive Carbon Capture Technology Opening New Markets FuelCell Energy has a joint development agreement with ExxonMobil Research and Engineering to develop, and commercialize a carbon capture system which utilizes the Company’s carbonate fuel cell technol
Slide 18: Distributed Hydrogen Technology & Toyota Project
Distributed Hydrogen Technology & Toyota Project The SureSource Hydrogen fuel cell power plant is configured to produce additional hydrogen beyond what is needed for power production; generating a stream of hydrogen suitable for industrial or transportation applications Application helps address the
Slide 19: Q4 and Fiscal 2020 Update & Financial Performance
Q4 and Fiscal 2020 Update & Financial Performance
Slide 20: Recent Company Messages
Recent Company Messages 20 Made continuing progress against our project backlog Fiscal year 2020 revenue grew approximately 17% to $70.9M Completed 2.8 MW biogas power platform in Tulare, CA Near completion on 8.8MW of new power platforms U.S. Navy base in Groton, CT Biogas project in San Bernardino
Slide 21: Backlog as of October 31, 2020
Backlog as of October 31, 2020 21 1 Refer to reconciliation in Appendix. Focused on Execution of Backlog FuelCell Project with CMEEC SureSourceTM 7.4 MW Location: U.S. Navy Subbase | Groton, CT 21
Slide 22: Cash and Liquidity
Cash and Liquidity 22 Improved Liquidity with Increased Unrestricted Cash, Lower-cost Capital Structure $39.8 $239.6 Significantly Improved Liquidity As of October 31, 2020, $192.1M in total cash, restricted cash, and equivalents Raised $173.2M through common stock sales and warrant exercises in fis
Slide 23: Operational Update
Operational Update Continued implementation of our Powerhouse Business Strategy is our major focus 23 Continuing progress against project backlog During fiscal year 2020 we completed our 2.8 MW biogas power platform in Tulare, CA Near completion on 8.8 MW of new power platforms U.S. Navy base in Gro
Slide 24: Focusing on Profitable Growth Enabled by Strengthened Financial Position
Focusing on Profitable Growth Enabled by Strengthened Financial Position 24 FUTURE GOALS Positive EBITDA Positive Free Cash Flow Deliver Returns on Invested Capital Revenue growth from commercialization of our hydrogen and carbon capture platforms, and carbon separation and utilization applications
Slide 25: Key Investment Highlights
Key Investment Highlights 25 1 2 3 4 Strengthened balance sheet with liquidity to complete project backlog and accelerate commercialization of new technologies Leadership committed to project execution, achieving financial milestones, and delivering state-of-the-art fuel cell platforms to contribute