FuelCell Energy Closes Offering with Proceeds of $241.5 Million

June 20, 2001 by Jeff Shepard

FuelCell Energy Inc. (Danbury, CT) announced the closing of its public offering of 3.45 million shares of common stock at $70 per share. Net proceeds to the company were $241.5 million.

FuelCell Energy intends to use the net proceeds from this offering to expand manufacturing equipment and facilities to support commercialization activities, and for general corporate purposes.