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Cooperation: Fuelcell And Exxon Mobil Extend Collaboration On Carbon Capture Technology

Danbury, USA- Fuelcell Energy has extended the term of a joint carbon capture development agreement with Exxon Mobil until 31 December 2022. The fuel cell manufacturer, which is listed on the RENIXX World renewable stock index, made the announcement.

The agreement will allow the two companies to continue their work to bring carbon capture and storage fuel cell technology closer to commercialisation and explore market applications.

The collaboration has three main areas of focus. Firstly, it aims to further develop the technology and thereby improve the understanding of the operating range of fuel cells for various carbon capture applications. The second focus is to further prepare the technology for potential use in carbon capture in a fuel cell module at an Exxon Mobil facility. The third focus is to conduct a joint market study to define application opportunities, commercialisation strategies and identify partners for a potential demonstration for industrial carbon capture applications.

"We are excited to build on the recent achievement of a key technical milestone as we advance toward the goals of a carbon capture demonstration and, ultimately, full scale deployment. We believe carbon capture is an essential requirement toward achieving global climate objectives", said Jason Few, CEO of Fuelcell Energy.

Fuelcell Energy's shares have made strong gains so far this week. Yesterday evening, the share price stood at 4.43 euros with a weekly gain of 10.5 percent (05.05.2022, closing price, Stuttgart Stock Exchange).

Source: IWR Online, 06 May 2022