FuelCell Energy (FCEL) – Get Report was climbing Friday after the clean-power producer and storage company said it had been awarded an $8 million contract by the U.S. Department of Energy.
Shares of the Danbury, Conn., company at last check were up 6.7% to $2.54.
FuelCell Energy said the contract supports design and manufacture of a SureSource electrolysis platform that can produce hydrogen.
The project will be the first multistack electrolysis system produced with its solid oxide technology.
The system will be equipped with an option to receive thermal energy, thus increasing the electrolysis electrical efficiency to more than 90%.
After the system is designed and built at the FuelCell Energy’s Danbury facility, it will be delivered to Idaho National Laboratories for testing.
“This highly efficient electrolysis platform is expected to provide much needed flexibility to base-load nuclear power generation,” the company said in a statement.
“Additionally, beyond validating the efficiency performance levels, this demonstration project will accelerate the control schemes and integration design.”
The project, the statement continued, “represents a key step in FuelCell Energy’s path to commercialize its high efficiency solid oxide electrolysis technology.”
Electrolysis technology can support the hydrogen economy by providing carbon-free, clean hydrogen for transportation, power generation, agriculture and other industrial applications, the company said.
The awarding of contracts has been an issue for the company recently.
Earlier in the week, FuelCell Energy said it “emphatically denies” allegations made by a short seller that it had lost two contract awards.
Meanwhile, J.P. Morgan analyst Paul Coster began coverage of the company’s stock Thursday with an overweight rating and $3 price target, saying FuelCell Energy is set to “pivot into profitability.” They shares jumped 10% on Thursday.
A small Nova Scotia-based company is upset about losing a provincial government contract to deliver high-speed internet, saying the loss could force it out of business.
Acadian Communications of Chéticamp lost to Bell Aliant in the second round of bidding for qualified suppliers to provide high-speed internet service.
It missed the first round of bidding due to a change in company ownership. Bell Aliant was among the successful bidders in that round and is working on providing service in the Chéticamp area.
Andrew LeBlanc, owner of Acadian Communications, said his company is already preparing to lose customers.
“As Bell comes in and steals away customers, there’s a point in the not too far future where I think we could go under,” he said.
Acadian Communications provides internet for around 800 customers and employs four people, including LeBlanc. He said if business drops to just 200 or 300 customers, the company won’t be profitable anymore.
Smaller companies losing out
LeBlanc said they offered a lower bid and asked for a 40 per cent subsidy from the province, while Bell Aliant asked for a 50 per cent subsidy.
“They’re going to cover the maximum amount of houses which is great for themselves and great for Nova Scotia residents, but for myself and several other companies across the province it’s not good at all,” said LeBlanc.
The second round of bidding went entirely to Bell Aliant. The company will provide high-speed internet for another 32,000 homes and businesses. The provincial government is providing $59 million for the project.
“In effect, the provincial government is funding the biggest telecommunication company to bankrupt our company,” said LeBlanc. “Something with that just doesn’t sit right.”
Yesterday, SpaceX received a contract worth more than $149 million from the Space Development Agency (SDA), tasking the company with building a new satellite for the US military capable of tracking and providing early warnings of hypersonic missile launches. Another company, L3 Harris out of Florida, was given more than $193 million by the agency to also build tracking satellites.
The satellites are meant to be the first crucial part of the SDA’s Tracking Layer Tranche 0, which is designed to provide missile tracking for the Defense Department from space using infrared sensors. SpaceX and L3 Harris will together build eight satellites to deliver to the DOD for the Tracking Layer — the first satellites in a planned constellation.
The Tracking Layer will work in partnership with the SDA’s proposed Transport Layer, another planned constellation of between 300 and 500 satellites that will provide “low-latency military data and connectivity worldwide” to military assets. Both layers will be able to communicate with one another through intersatellite links. That way, any data that the sensors pick up in the Tracking Layer can quickly be disseminated to personnel on the ground. Lockheed Martin and York Space Systems both received contracts to develop the initial satellites for this Transport Layer.
This is the first time SpaceX has been granted a DOD award to build satellites. The company is quickly growing its own satellite flight with its Starlink constellation — a proposed constellation of nearly 12,000 satellites intended to beam broadband internet connectivity down to users on Earth. To win this SDA award, SpaceX bid a satellite concept based on its Starlink design, Space News reports.
“We are confident these fixed-price awards will help us deliver the initial tranche of the Tracking Layer on schedule,”
CHANDLER, Arizona – (Reuters) – Intel Corp on Friday said it has won a second-phase contract in a project aimed at helping the U.S. military make more advanced semiconductors within the United States.
Under the project, Intel will help the military develop prototypes of chips using its semiconductor packaging technology at factories in Arizona and Oregon. The packaging technology allows pieces of chips called “chiplets” from different providers to be combined into one package, helping cram more features into a smaller finished product while lowering its power consumption.
“As more and more semiconductor manufacturing has moved offshore, the (Department of Defense) is very interested in ensuring that they have advanced microelectronics for national security manufactured here in the U.S.,” Bob Swan, Intel’s chief executive, told Reuters in an interview as he toured a recently completed $7 billion factory expansion in Arizona, where Intel’s workforce totals 12,000.
“As a U.S.-based company, it’s important to us to be able to address some of the fundamental concerns that the U.S. would have about access to these critical technologies going forward,” he said.
Intel declined to disclose a dollar figure for its portion of the contract, which is being overseen by the Naval Surface Warfare Center, Crane Division. Intel won part of the first phase of the contract in 2019.
Intel’s work with the Defense Department comes as U.S. officials focus on boosting domestic semiconductor manufacturing in response to the rise of China as a strategic competitor. About 75% of the world’s chipmaking capacity is in Asia, with many of the most advanced plants in Taiwan and Korea, within the reach of the Chinese and North Korean militaries.
“I think one of the areas where we can have the most impact on China broadly is re-shoring microelectronics,” Ellen Lord, the Pentagon’s chief weapons buyer,