Shares of FuelCell Energy (FCEL.US) climbed significantly during Thursday's premarket session.

The notable price increase follows the company's announcement of a partnership with Siemens AG to develop scalable fuel cell power generation solutions.

As part of this collaboration, Siemens will be responsible for the design and supply of electrical balance of plant systems to support the rapid deployment of commercial projects exceeding 100 megawatts.

Key Aspects of the Partnership

The joint effort will focus on the development of distributed energy systems, encompassing engineering design, system integration, and project delivery. These integrated systems will combine fuel cells, battery storage, microgrid controls, and medium-voltage electrical equipment.

Siemens highlighted the potential of the collaboration, stating that by leveraging FuelCell Energy's technology alongside its own expertise in power infrastructure, operational services, and system integration, the partnership can deliver scalable, on-site power solutions for energy-intensive applications.

This approach is designed to help customers accelerate their power infrastructure deployment, expand production capacity reliably, and transition towards lower-emission, more resilient energy systems.