FuelCell Energy Announces Construction Financing for Project at the U.S. Navy Submarine Base in Groton, Connecticut
FuelCell Energy, Inc. (FCEL)
Last fuelcell energy, inc. earnings: 3/16 07:00 am
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Source: GlobeNewswire
$23 million construction financing facility to support the 7.4 MW power plant being constructed for the U.S. Navy Submarine Base in Groton, CTFinancing provided by Fifth Third Bank, a new banking relationship for FuelCell Energy DANBURY, Conn., March 04, 2019 (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, today announced the signing of a construction financing facility with Fifth Third Bank. The proceeds will be used by FuelCell Energy to finance the construction, installation and commissioning of the fuel cell power plant being built by the Company at the U.S. Navy Submarine Base located in Groton, Connecticut. The facility structure provides for aggregate principal commitments of up to $23 million. The initial draw amount under this facility, funded at closing, was approximately $10 million. This financing enables the installation of two S
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