$FCEL Exxon relationship is extremely beneficial, but people need to realize Exxon is not going to flip a switch and build gigantic carbon capture plants featuring FCEL any time soon. Many of the near term CC projects will use proven amine technology and other processes. Exxon is not going to risk those investment dollars on a big project until the FCEL carbon capture application has been through a series of real world paces outside of the lab. The project in Porthos (Rotterdam, Netherlands) will be a pilot project, an important incremental step forward but will still be one to two years before it’s built and running. Significant CCUS projects of a major size are still likely to be 4-7 years away. Even the Canada CC work FCEL is doing will be small at first. The company has still not proven it can build these plants profitably with those negative margins.
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