FuelCell Energy (FCEL) Climbs 24% Ahead of South Korea Expansion

FuelCell Energy Inc. (NASDAQ:FCEL) is one of the 10 Stocks Investors Are Chasing Right Now.

FuelCell saw its share prices increase by 24.17 percent on Monday to close at $29.80 apiece, as investors loaded up on its shares ahead of its expansion plan in South Korea.

This followed news on the same day that FuelCell Energy Inc. (NASDAQ:FCEL) was able to raise $49 million in fresh funds from a financing package from the Export-Import Bank of the United States (EXIM), proceeds of which will be used to support the development of a fuel cell energy project for Gyeonggi Green Energy (GGE) in South Korea.

Photo by Tima Miroshnichenko on Pexels

FuelCell Energy Inc. (NASDAQ:FCEL) is set to develop five 2.8 MW fuel cell energy blocks for GGE, boosting its capacity by an additional 14 MW.

At present, GGE boasts 60 MW of installed capacity, making it among the largest fuel cell developers in the world.

FuelCell Energy Inc. (NASDAQ:FCEL) said that the second tranche of the total amount is expected to be released in October 2026, subject to customary closing conditions.

EXIM structured the financing under its loan guarantee program and arranged with Private Export Funding Corporation (PEFCO), supporting the export of American clean energy technology to international markets. It builds upon FuelCell Energy Inc.’s (NASDAQ:FCEL) prior EXIM-supported financing completed in 2024 and 2025 and reflects continued support for the company’s export of US-manufactured clean energy technology.

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