FUELCELL ENERGY, INC. (NASDAQ:FCEL) Files An 8-K Entry into a Material Definitive Agreement

As previously disclosed, FuelCell Energy, Inc., (the “Company”)
is a party to the following agreements with POSCO Energy Co., Ltd.
(“POSCO Energy”);

(a) Alliance Agreement (“AA”), dated as of February 7, 2007, with
an expiration date of October 31, 2027;

(b) the Technology Transfer, Distribution and Licensing Agreement
(“TTA”), dated as of February 7, 2007, with an expiration date of
October 31, 2027;

(c) the Stack Technology Transfer and License Agreement (“STTA”),
dated October 27, 2009, with an expiration date of October 27,
2027; and

(d) the Cell Technology Transfer and License Agreement (“CTTA”),
dated October 31, 2012, with an original expiration date of October
31, 2027

On March 17, 2017, the Company entered into a Memorandum of
Understanding (2017 MOU) with POSCO Energy to engage in discussions
to further amend the above referenced agreements and other
agreements between the parties, as well as engaging in discussions
relating to entering into new agreements to further the parties
mutual interests. The 2017 MOU contemplates that POSCO Energy will
continue to service the existing installed base of fuel cell plants
in South Korea. In addition, the 2017 MOU contemplates entering
into a module procurement agreement with POSCO Energy that the
Company anticipates will provide that POSCO Energy will commit to a
specified level of module purchases from the Company to supplement
its own local manufacturing for servicing their existing fleet.
Definitive agreements are expected to be finalized in autumn 2017
subject to completion of due diligence, regulatory approvals, and
customary closing conditions.

the 2017 MOU, the Company will immediately commence marketing the
entire suite of SureSource solutions in Korea as well as the
broader Asian markets for the supply, recovery and storage of
energy. This agreement is a binding provision of the 2017 MOU.

The foregoing description of the 2017 MOU is qualified by reference
to the complete document, which is filed as Exhibit 10.1 to the
Form 8-K.

On March 21, 2017, the Company issued a press release related to
the 2017 MOU, which is filed as Exhibit 99.1 to the Form 8-K.

Cautionary Language Regarding Forward-Looking Statements

This Current Report on Form 8-K contains forward-looking statements
within the meaning of the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995, including, without
limitation, statements with respect to the Company’s plans and
expectations regarding the 2017 MOU. All forward-looking statements
are subject to risks and uncertainties that could cause actual
results to differ materially from those projected. Factors that
could cause such a difference include, without limitation, changes
to projected deliveries and order flow, changes to production rate
and product costs, general risks associated with product
development, manufacturing, changes in the regulatory environment,
customer strategies, unanticipated manufacturing issues that impact
power plant performance, changes in critical accounting policies,
potential volatility of energy prices, rapid technological change,
competition, and the Company’s ability to achieve its sales plans
and cost reduction targets, as well as other risks set forth in the
Company’s filings with the Securities and Exchange Commission. The
forward-looking statements contained herein speak only as of the
date of this Current Report on Form 8-K. The Company expressly
disclaims any obligation or undertaking to release publicly any
updates or revisions to any such statement to reflect any change in
the Company’s expectations or any change in events, conditions or
circumstances on which any such statement is based.