A SEC filing on Tuesday showed the company granted ExxonMobil Research and Engineering Company the ability to use FuelCell’s patents, data and equipment design through a material definitive agreement.
Investors cheered the new partnership, sending the Danbury, Connecticut company’s stock 27.5% higher to close at $0.51. Shares of Exxon fell by 1.1% to $74.04.
READ: FuelCell Energy continues to tumble as uncertainty clouds company after sudden CEO exit, restructuring
FuelCell designs, installs, and operates fuel cell power plants for power generation.
During the Wednesday session, trading was temporarily halted.
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