FuelCell Energy soars on hopes of incentives

WASHINGTON, D.C. - FuelCell Energy Inc shares rose 20 percent on what one analyst termed as bullish bets by investors on a push for government incentives by the fuel-cell industry.

The surge came after The Washington Times quoted a FuelCell Energy executive as saying his company was working with Congress for "special attention in upcoming bills."

Raymond James analyst Pavel Molchanov said if the fuel-cell industry could get the Waxman-Markey climate change bill amended to provide more support for the sector, it would bode well for FuelCell Energy, which makes fuel-cell power plants for electric power generation.

The Waxman-Markey bill, which has been passed by the House of Representatives but not by the Senate, mandates a 5 percent increase in energy efficiency by 2020.