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Actionable news in FCEL: FuelCell Energy, Inc.,

FuelCell Energy (FCEL) Stock Surges on Pfizer Power Plant Deal

NEW YORK (TheStreet) -- Shares of FuelCell Energy (FCEL - Get Report) closed trading up 12.5% to $5.58 on Monday after the company announced a deal to build a 5.6-megawatt power plant at a research facility for Pfizer (PFE) in Groton, CT.

The company's fuel cells will power the 160-acre facility with low carbon electricity and steam under a 20 year power purchase agreement.

"This power purchase model delivers immediate value while increasing electrical reliability by providing the security of on-site power with a financial structure that avoids an investment in power generation assets, and FuelCell Energy installs, operates and maintains the fuel cell power plants," said FuelCell CEO Chip Bottone.

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The fuel-cell system will convert natural gas to power and steam. The power plant will be able to keep the research facility operational even if the local utility grid shuts down.

The stock traded on heavy volume today, with 2.18 million shares exchanging hands versus the stocks daily average of 328,000 shares.

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