FuelCell Energy, Inc. (NASDAQ:FCEL) Q1 2024 Earnings Call Transcript

Noel Parks: Great. And this might be a little bit of over-triangulation between various projects you’ve had. But I was wondering, the Tri-Gen project with Toyota at Long Beach, is there any analogous use case in thinking about, for example, maybe US Gulf Coast and oil tankers, export facilities and so forth? There’s a lot going on with LNG there as well on the horizon. Any similar opportunities that you’ve talked about or had customers approach you about around — about doing Tri-Gen in a setting like that?

Jason Few: Yeah. When you think about the Tri-Gen platform and, if you just take two of the value streams out of the Tri-Gen platform, setting water aside for just a second, clearly opportunities around power generation for distributed power. And then hydrogen, beyond using hydrogen for transportation, there’s conversations around hydrogen for gas blending to help reduce the overall carbon intensity of net gas is one — another way in which the platform can be utilized. We certainly see opportunities around ports, especially when you think about the efforts to decarbonize ports and if you just take goods movement on site at the port and the need for a source of hydrogen and power as those things either move to hydrogen as a fuel or electrification as a fuel, those clearly become ways in which our Tri-Gen platform is advantaged to pursue additional opportunities that look a lot like what we’re doing already at Long Beach.

And probably the most relevant part about that is, right, we now have a reference to show that — what the platform can do and it’s being used in a real commercial application.

Noel Parks: I’m sure that it’s a demonstration value for sure, so. Okay. Great. Thanks a lot.

Jason Few: Thank you.

Tom Gelston: And Ellie, I think that’s all the questions that we have.

Operator: That’s all the questions that we have. I’d now like to hand back over to Jason for a few closing remarks.

Jason Few: Ellie, thank you. We will continue to execute on our powerhouse business strategy with the goal of delivering value to our customers, growth and optimizing returns. Thank you all for joining the call today and for your interest in FuelCell Energy. We look forward to updating you again next quarter. Have a great day.

Operator: Thank you for attending today’s call. You may now all disconnect. Have a wonderful day.