UPDATE: FuelCell shares rally 90% premarket on news of $60 million carbon capture tech pact with ExxonMobil

Shares of penny stock FuelCell Energy Inc. rallied 90% in premarket trade Wednesday, after the company and Exxon Mobil Corp. said they have expanded a carbon capture technology agreement. The deal is worth up to $60 million and will focus on FuelCell’s proprietary technology, that uses carbonate fuel cells to capture and concentrate carbon dioxide streams from large industrial sources. The two partners began to work together in 2016 and Exxon is aiming to conduct a pilot test of next-generation fuel cell carbon capture technology at one of its operating sites. Exxon shares were down 0.3% premarket.

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