DANBURY, Conn., Sept. 08, 2017 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. (Nasdaq:FCEL), a global leader in delivering clean, innovative and affordable fuel cell solutions for the supply, recovery and storage of energy, announced today the completion of an underwritten offering of 33,500 shares of convertible preferred stock (the “Preferred”) with a stated value of $1,000 per share. The Preferred carries a 0.0% dividend and is convertible into common shares at $1.84 per common share. Total net proceeds to the Company were approximately $28 million. FuelCell Energy intends to use the net proceeds from this offering for working capital, project financing, and general corporate purposes.

Oppenheimer & Co. Inc. acted as the sole underwriter for the offering.

About FuelCell Energy

FuelCell Energy (NASDAQ:FCEL) delivers efficient, affordable and clean solutions for the supply, recovery and storage of energy. We design, manufacture, undertake project development, install, operate and maintain megawatt-scale fuel cell systems, serving utilities, industrial and large municipal power users with solutions that include both utility-scale and on-site power generation, carbon capture, local hydrogen production for transportation and industry, and long duration energy storage. With SureSource™ installations on three continents and millions of megawatt hours of ultra-clean power produced, FuelCell Energy is a global leader with environmentally responsible power solutions. Visit us online at www.fuelcellenergy.com and follow us on Twitter @FuelCell_Energy.