10:31 AM EDT, 08/22/2024 (MT Newswires) -- FuelCell Energy ( FCEL ) said Thursday that it has secured a 5.9 million Canadian-dollar ($4.3 million) grant from Natural Resources Canada's Clean Fuels Fund that will finance two projects using its electrolyzer technology to produce synthetic fuel, or eFuel.

The first project will assess the feasibility of sites for the construction of a plant to create 550 barrels of synthetic fuel using biomass and hydrogen from solid oxide electrolysis daily, the company said.

The second project will demonstrate the ability to produce synthesis gas through a method that combines water and carbon dioxide electrolysis, FuelCell said.

Shares of FuelCell were down more than 5% in recent trading.

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