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FuelCell Energy CEO Jason Few Applauds “One Big Beautiful Bill Act” as Catalyst for U.S. Clean Energy Leadership

1. FCEL CEO praises 'One Big Beautiful Bill Act' for supporting fuel cell industry. 2. Reinstatement of Investment Tax Credit (ITC) is crucial for scaling deployment. 3. Flexibility of federal tax credits enhances financing for small to mid-sized firms. 4. Modified hydrogen provisions stabilize investment and innovation in the sector. 5. OBBBA aims to strengthen America's energy infrastructure and grid resilience.

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FAQ

Why Very Bullish?

The reinstatement of the ITC directly benefits FCEL’s financial outlook, akin to previous benefits seen after similar tax credit reinstatements, which often led to stock price increases.

How important is it?

The OBBBA's provisions directly strengthen the operational and financial viability of FCEL, making the impact highly significant for its future.

Why Long Term?

The provisions in the OBBBA are likely to foster long-term growth in FCEL as they enable sustained investments and profitability, similar to the benefits observed after major energy policy changes in the past.

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PLUGNELBE
July 07, 2025 07:30 ET  | Source: FuelCell Energy, Inc. DANBURY, Conn., July 07, 2025 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. (Nasdaq: FCEL) President and CEO Jason Few has issued a statement praising the “One Big Beautiful Bill Act” (OBBBA) for its direct support of the fuel cell industry and its role in strengthening America’s energy infrastructure, data center resilience, and clean manufacturing base. “The ‘One Big Beautiful Bill Act’ is a landmark for American energy leadership—and it’s time to set the record straight: clean energy was not sidelined,” said Few. “In fact, the bill includes direct, powerful provisions that support the fuel cell industry and reinforce the United States’ position as a global leader in data center infrastructure and grid resilience.” Few highlighted the reinstatement of the Investment Tax Credit (ITC) as a key win for the sector. He also emphasized the importance of preserving the transferability of federal tax credits, calling it “very important—especially for small- and mid-sized companies—to maintain the ability to monetize these credits.” FuelCell Energy also expressed support for Congress’ decision to modify hydrogen provisions in the bill, ensuring stability for companies that have already made significant investments in hydrogen. “Supporters of the OBBBA deserve credit for moving the conversation toward a more inclusive, American-built and led, innovation-driven—and yes, clean—energy policy,” Few concluded. Full Statement from Jason Few, President & CEO of FuelCell Energy “The ‘One Big Beautiful Bill Act’ is a landmark for American energy leadership—and it’s time to set the record straight: clean energy was not sidelined. In fact, the bill includes direct, powerful provisions that support the fuel cell industry and reinforce the United States’ position as a global leader in data center infrastructure and grid resilience. One of the most impactful elements of the legislation is the reinstatement of the Investment Tax Credit (ITC). By maintaining full ITC eligibility for fuel cell technologies, the bill ensures that companies like FuelCell Energy can continue to deploy U.S.-built platforms at scale. This is not just about clean energy—it’s about national competitiveness, energy security, and the infrastructure backbone of the AI economy. The ITC’s flexibility—especially its transferability and long-term visibility—gives developers and investors the confidence to accelerate deployment. That means more resilient power for data centers, more stable grids in the face of extreme weather, and more American jobs in advanced manufacturing. We especially applaud Congress’ decision to preserve the transferability of key federal tax credits. It’s particularly important for small- and mid-sized companies to maintain the ability to monetize these credits. That flexibility facilitates the financing they need to grow. If a mid-size, highly specialized manufacturer can go from one full-time production shift to two or even three, that’s more U.S. jobs and faster deployment of power solutions. In addition, we support Congress’ decision to modify the hydrogen provisions in the OBBBA. We recognize that many companies have made significant investments in hydrogen. Congress made the right call in ensuring that those investments are not undermined by sudden policy shifts. That kind of stability is essential for long-term innovation. Let’s be clear: the OBBBA doesn’t pick winners and losers—it recognizes the unique strengths of each clean energy technology. Fuel cells are dispatchable, scalable, and built for the demands of a digital, electrified future. This bill gives us the tools to lead. We appreciate all the work that has been done in the House and Senate on behalf of the energy sector, and we believe the supporters of the OBBBA deserve credit for moving the conversation toward a more inclusive, American-built and led, innovation-driven—and yes, clean—energy policy.” About FuelCell Energy FuelCell Energy, Inc. provides clean, reliable future-ready solutions that allow customers to access power faster and manage their emissions while keeping their operations running. Our efficient, scalable, and fuel-flexible systems—running on natural gas, biofuels, or hydrogen—provide steady baseload, grid-independent electricity worldwide. With more than 55 years of expertise and nearly 200 modules in commercial operation, we help customers achieve their immediate and future energy goals. Learn more at www.fuelcellenergy.com. Contact:FuelCell Energyir@fce.com203.205.2491 Kathleen Blomquistkblomquist@fce.com203.546.5844

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