Danbury’s FuelCell Energy Inc. says it earned its first gross profit in the fiscal third quarter — a significant milestone since commercializing its Direct FuelCell technology.
FuelCell Energy posted gross earnings of $200,000 in the three months ended July 31.
But taking into account sales costs and other expenses, FuelCell lost $8.6 million, or 7 cents a share, down from $13.8 million, or 15 cents a share, lost the same period a year ago.
Quarterly revenues rose to $29.4 million from $16.2 million.
On Wednesday, FuelCell announced its South Korean partner, Posco Power, has sold one of its Direct FuelCell units to waterpark resort in Jakarta, Indonesia. Sale price was not disclosed.
FuelCell says the Jakarta installation will demonstrate its technology to potential powerplant customers throughout Southeast Asia.
