FuelCell Energy Surges 21% on Korean Contracts and Data Center Demand

FuelCell Energy Inc. (NASDAQ: FCEL) shares skyrocketed 21% to $5.24 following a robust Q3 2025 earnings report. Revenue nearly doubled year-over-year, reaching $46.7 million, driven largely by its Gyeonggi Green Energy contract in Korea. The deal contributed $24 million, while service revenue climbed to $3.1 million as the Korea LTSA rollout gained momentum.

The company's strategic pivot toward data center energy solutions, particularly for AI-driven power demand, is yielding early dividends. A $2 million contract with Ameresco further bolstered results, though generation segment revenue dipped slightly to $12.4 million due to maintenance. Advanced technologies revenue fell to $5.3 million.

With a $1.24 billion backlog and restructuring efforts taking hold, FuelCell is positioning itself as a key player in the evolving energy infrastructure landscape. The surge reflects growing institutional confidence in alternative power solutions for tech-intensive industries.