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FuelCell (FCEL), Ballard (BLDP), Plug Power (PLUG) on Watch as Peer Files Bankruptcy

May 2, 2014 9:41 AM EDT Send to a Friend

FuelCell Energy (Nasdaq: FCEL), Ballard Power (Nasdaq: BLDP), and Plug Power (Nasdaq: PLUG) are on watch today as one segment peer is going belly-up.

According to market reports, California-based fuel cell manufacturer ClearEdge Power has filed for chapter 11 bankruptcy protection. In the filing, the company said it owes over $16.6 million to its 20 largest, unsecured creditors.

ClearEdge also said that none of the largest creditors come from Connecticut, though there are numerous companies, residences, and governments to which the company owes money.

On April 24th, ClearEdge abruptly shut its doors to employees. The company was hoping to land a major contract which was delayed, causing a major cash shortage in the process.

Fuel cell peers are flat-to-lower on Friday's session.





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