The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: George Gianarikas - Canaccord Genuity - Analyst
: Hi, good morning, everyone, and thank you for taking my questions.
Question: George Gianarikas - Canaccord Genuity - Analyst
: Great, yourself?
Question: George Gianarikas - Canaccord Genuity - Analyst
: So I'd just like to focus on slide 14 for seconds of reducing spending by up to about $30 million. Did I hear correctly that you're expecting some of
this project spend to extend into fiscal '25? And also you had mentioned in the past that you had this reversible solid oxide platform that you expect
to start in 2027. Is that still on track? Thank you.
Question: George Gianarikas - Canaccord Genuity - Analyst
: Thank you. And maybe as a follow-up. You had mentioned this new Ameresco partnership and the one particular wastewater treatment facility
that you'll be deployed in.
Just any color around the pipeline there and the partnership with Ameresco and if there are additional facilities where you could see joint deployment?
Thank you, and I'll step back.
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JUNE 10, 2024 / 2:00PM, FCEL.OQ - Q2 2024 Fuelcell Energy Inc Earnings Call
Question: George Gianarikas - Canaccord Genuity - Analyst
: Thank you.
Question: Samuel James - UBS - Analyst
: Hi, good morning, guys. Could you provide some more detail on Tri-gen system. I see that partnerships, Toyota growing?
Question: Samuel James - UBS - Analyst
: Thank you.
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JUNE 10, 2024 / 2:00PM, FCEL.OQ - Q2 2024 Fuelcell Energy Inc Earnings Call
Question: Ryan Pfingst - B. Riley Securities - Analyst
: Jason, you mentioned the data center opportunity. Are you in discussions with potential data center customers today. Just trying to get a sense
of how advanced those conversations might be it.
Question: Ryan Pfingst - B. Riley Securities - Analyst
: Great. Yeah, I really appreciate all that color. Thank you, Mark as well. Just one more from me. Can you walk through the expected revenue cadence
for the GGE agreement?
Question: Noel Parks - Touhy Brothers - Analyst
: Hi, good morning. I just had a couple. I was interested in the R&D spending and you revised that it's our expectation for the year. And I just wonder
if you could break out a little bit on weather, you know those increases are likely to be some project that nothing reads.
I'm sorry, the current spending rate is going to be on. It's more in the covenant product, solid oxide or carbon recovery. And you could sort of
characterize examples of what some of the projects or initiatives that they've done our heads?
Question: Noel Parks - Touhy Brothers - Analyst
: Okay, great. And I is just kind of a housekeeping question, and I noticed the depreciation sequentially was a bit higher this quarter. I wondered if
that was just the timing thing related to either onboarding are rolling off or from cost out of out of inventory?
Question: Noel Parks - Touhy Brothers - Analyst
: Got it. Thanks a lot.
Question: Jeffrey Campbell - Seaport Research Partners - Analyst
: Good morning, and I want to go back to slides 6 and just if we could expand a little bit on the fuel cell ability to utilize this technology. I'm referring
to the carbon capture stuff in small to mid-scale applications through the agreement term.
And I'm not meaning to be majority of it anyway. I'm just wondering, is this sort of a theoretical concept at this point? Or do you we already have
a design for a smaller application? Do you have is there an active marketing effort going on here? Maybe what type of application, you think they
would have the results sooner than later?
And also would if something comes through, is that going to be abating for manufacturing capability in some of the other areas that you've noted.
Thanks.
Question: Jeffrey Campbell - Seaport Research Partners - Analyst
: Great. And if I could just follow that up. The follow-on is do you see this I mean, on paper, the small-scale versus the large for Esso looks like parallel
path. Did you feel like from the conversations you're having right now?
There are people that are out there that may be willing to commit to a smaller mid-scale application before the Exxon facility is up and running in
2026? Or is there sort of the sense that everybody just kind of waiting to see how the thing performs at the large scale and then that will be the
validation to get some of these smaller scale applications moving? Thanks.
Question: Jeffrey Campbell - Seaport Research Partners - Analyst
: Great. I appreciate the color. Thank you.
without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its
affiliated companies.
JUNE 10, 2024 / 2:00PM, FCEL.OQ - Q2 2024 Fuelcell Energy Inc Earnings Call
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