FuelCell Energy Inc (NASDAQ: FCEL) Celebrates the Ratification of House Bill 6524 in Connecticut

FuelCell Energy Inc (NASDAQ: FCEL) has supported Governor Ned Lamont on the ratification of Connecticut House Bill 6524.

House Bill 6524 delivers inclination for schemes that are located on brownfields

The bill necessitates the Connecticut utilities to ask for suggestions to obtain new cell electricity generation schemes that instigate on or after July 1, 2021. It will accept the schemes proposed under this directive by January 1, 2022.

The assessment used in the suggestion medley process will be founded on both augmenting delivery energy system dependability and the safety and sustenance of microgrids to safeguard critical possessions that continue to function during power disturbances.

House Bill 6524 provides inclination for schemes located on brownfields as Connecticut validates its pledge to energy equity and fuel cells contrived in Connecticut. The energy changeover, and the predicted position of distributed hydrogen, places Connecticut to endure as a global leader in clean know-how vital in attaining global sustainability intentions through fuel cell placement.

The total quantity of fuel cell produced capability to be obtained under this bill is 30 megawatts, which are to be allocated to the two in-state local electrical delivery companies based on their particular delivery burden.

FuelCell Energy obtains a favorable court decision in a case filed by POSCO Energy Co.

FuelCell Energy has obtained a good decision in a court case recorded in the Court of Chancery in Delaware by POSCO Energy Co., Ltd. On July 9, 2021, the Court delivered a post-trial decision rejecting POSCO Energy’s swift constitutional request to review the company’s books and annals because POSCO Energy lacks a correct resolution. 

The Court held that the entirety of the conditions, counting the fact this was the seventh legal action POSCO Energy introduced against the company within nine months, established that POSCO Energy’s drive-in commencing the books and records request and filing the grievance was not correct.

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