FCEL

EX-99.1

2 fcel-20260902xex99d1.htm

EX-99.1

FuelCell Energy

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Exhibit 99.1

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FuelCell Energy Reports Third Fiscal Quarter 2026 Results;

Executes First Data Center Power Agreement, Increases Annualized Production Rate & Focuses on Capacity Expansion

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DANBURY, Conn., September 2, 2026 (GLOBE NEWSWIRE) — FuelCell Energy, Inc. (“FuelCell Energy” or the “Company”) (NASDAQ: FCEL) today reported financial results for its third quarter ended July 31, 2026.

Third Fiscal Quarter 2026 Operational and Financial Highlights

(All comparisons are year-over-year unless otherwise noted)

●Committed Backlog of $1.3 billion as of July 31, 2026, compared to $1.24 billion as of July 31, 2025, an increase of approximately 4.1% which includes the commitment by Fit Energy USA LP (“Fit Energy”) to purchase fuel cell systems representing generation capacity of 30 MW

●Added $2.4 billion to Awarded Capacity Backlog related to Fit Energy’s option to purchase additional fuel cell systems representing generation capacity of up to 350 MW

●Subsequent to the third quarter, signed the Company’s first Capacity Reservation Agreement with a major data center operator for a planned 75 MW project in Texas, supported by an upfront reservation payment

●Sales pipeline1 in Q3 2026 increased to a total of approximately 10 gigawatts (“GW”) for fiscal year 2026

●Continued work on expansion of Torrington, CT fuel cell manufacturing facility to 500 MW of total annualized production capacity; completion expected by June 2028

●Signed an MOU with Siemens with the goal of supporting faster, lower-cost deployment of 100+ MW commercial projects

●Delivered first two carbon capture modules to ExxonMobil Technology and Engineering Company in Rotterdam, The Netherlands in connection with the companies’ carbon capture collaboration

●Revenue of $33.0 million, compared to $46.7 million, a decrease of approximately 29%

●Gross loss of $(24.5) million, compared to $(5.1) million, an increase of approximately 377%

●Loss from operations of $(46.7) million, compared with $(95.4) million, a decrease of approximately 51%

●Net loss per share attributable to common stockholders was $(0.64), compared with $(3.78)

●Cash, cash equivalents, restricted cash and restricted cash equivalents totaled $737.3 million

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"During the third quarter, FuelCell Energy accelerated the commercial execution of our data center strategy while continuing to expand the manufacturing capacity we believe is required to support long-term growth," said Jason Few, President and CEO of FuelCell Energy. "Our capital equipment purchase agreement with Fit Energy for a total aggregate generation capacity of up to 380 MW across four potential phases, intended to supply baseload power for data center applications, represents an important commercial milestone and validates FuelCell Energy’s ability to help meet the growing demand for utility-scale, behind-the-meter power solutions that accelerate time-to-power.

“The expansion of our Committed and Awarded Capacity Backlog to $3.6 billion reflects increasing customer demand for reliable, scalable infrastructure that reduces dependence on constrained transmission systems, simplifies permitting, and enables AI driven compute to be deployed faster.

“Along with the increasing interest in FuelCell Energy’s power solutions, we are investing with discipline to scale our manufacturing capabilities. The expansion of our Torrington facility to accommodate an annualized production

1 Pipeline consists of ongoing commercial discussions that range from solutions discussion through contract negotiation and does not represent signed agreements. There can be no assurance that these discussions will result in executed contracts or actual sales.

rate of 500 MW is underway and will strengthen our ability to convert commercial momentum into revenue while supporting growth.

“Demand for electricity is accelerating, driven by AI, data centers, and the broader electrification of the economy. With a growing commercial pipeline, expanding manufacturing capacity, and differentiated technology, we believe FuelCell Energy is well positioned to capitalize on these long-term market tailwinds."

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Business Updates

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During the third quarter, FuelCell Energy and Fit Energy entered into a capital equipment purchase agreement, pursuant to which FuelCell Energy agreed to manufacture, sell, and deliver to Fit Energy carbonate fuel cell block systems with a total aggregate generation capacity of up to 380 MW across four potential phases. The fuel cell systems are intended to supply baseload electricity for data center applications. We expect to begin delivery of the initial phase (Phase 0) consisting of 30 MW of generation capacity in the fourth quarter of fiscal year 2026. Fit Energy has the ability to elect, at its sole option, to proceed with the remaining phases for generation capacity of 100 MW in Phase 1, generation capacity of 125 MW in Phase 2 and generat