<SEC-DOCUMENT>0001104659-20-065344.txt : 20200522
<SEC-HEADER>0001104659-20-065344.hdr.sgml : 20200522
<ACCEPTANCE-DATETIME>20200522160703
ACCESSION NUMBER:		0001104659-20-065344
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20200522
DATE AS OF CHANGE:		20200522
EFFECTIVENESS DATE:		20200522

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FUELCELL ENERGY INC
		CENTRAL INDEX KEY:			0000886128
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690]
		IRS NUMBER:				060853042
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-238609
		FILM NUMBER:		20905869

	BUSINESS ADDRESS:	
		STREET 1:		3 GREAT PASTURE RD
		CITY:			DANBURY
		STATE:			CT
		ZIP:			06813
		BUSINESS PHONE:		2038256000

	MAIL ADDRESS:	
		STREET 1:		3 GREAT PASTURE ROAD
		CITY:			DANBURY
		STATE:			CT
		ZIP:			06813

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ENERGY RESEARCH CORP /NY/
		DATE OF NAME CHANGE:	19930328
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>tm2019385d1_s8.htm
<DESCRIPTION>FORM S-8
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>As filed with the Securities and Exchange
Commission on May 22, 2020</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No. 333-</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
WASHINGTON, D.C. 20549<BR>
</B>_______________________________</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FORM S-8<BR>
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933<BR>
</B>_______________________________</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 14pt"><B>FUELCELL
ENERGY, INC.</B></FONT><B><BR>
</B>(Exact name of registrant as specified in its charter)</P>

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    <TD STYLE="vertical-align: bottom; width: 45%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 10%; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 45%; text-align: center"><FONT STYLE="font-size: 10pt"><B>06-0853042</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">(State or other jurisdiction of <BR>
incorporation or organization)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">(I.R.S. Employer <BR>
Identification No.)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt"><B>3 Great Pasture Road<BR>
Danbury, Connecticut<BR>
</B>(Address of Principal Executive Offices)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt"><B><BR>
06810<BR>
</B>(Zip Code)</FONT></TD></TR>
</TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FUELCELL ENERGY, INC. 2018 OMNIBUS INCENTIVE
PLAN<BR>
</B>(Full title of the plan)</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Jason B. Few</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>President, Chief Executive Officer and
Chief Commercial Officer<BR>
FuelCell Energy, Inc.<BR>
3 Great Pasture Road</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Danbury, Connecticut 06810<BR>
(203) 825-6000</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name, address and telephone number, <BR>
including
area code, of agent for service)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Copies to:</P>



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    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Paul D. Broude, Esq.<BR>
        Megan A. Odroniec, Esq.</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Foley &amp; Lardner LLP</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>111 Huntington Avenue, Suite 2500</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Boston, Massachusetts 02199</B></P></TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Jennifer D. Arasimowicz, Esq.<BR>
        Executive Vice President, General Counsel, Corporate&nbsp;Secretary and Chief&nbsp;Administrative&nbsp;Officer<BR>
        FuelCell Energy, Inc.<BR>
        3 Great Pasture Road</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Danbury, Connecticut 06810</B></P></TD></TR>
</TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions
of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller reporting company,&rdquo; and &ldquo;emerging
growth company&rdquo; in Rule 12b-2 of the Exchange Act.</P>

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    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">Large accelerated filer&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD>
    <TD STYLE="text-align: right; width: 50%"><FONT STYLE="font-size: 10pt">Accelerated filer&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Non-accelerated filer&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#120;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;Smaller reporting company&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;Emerging growth company&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If an emerging growth company,
indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised
financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. &nbsp;</FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>CALCULATION OF REGISTRATION FEE</B></P>

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<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 2pt; width: 40%; border: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Title of Securities to be Registered</B></FONT></TD>
    <TD STYLE="padding: 2pt; width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>Amount to be</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>Registered&nbsp;(1)</B></P></TD>
    <TD STYLE="padding: 2pt; width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Proposed Maximum Offering Price&nbsp;Per&nbsp;Share&nbsp;(2)</B></FONT></TD>
    <TD STYLE="padding: 2pt; width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Proposed Maximum Aggregate Offering&nbsp;Price</B></FONT></TD>
    <TD STYLE="padding: 2pt; width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Amount of Registration Fee</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-size: 10pt">Common Stock, $0.0001 par value per share</FONT></TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">4,000,000 shares</FONT></TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">$1.94</TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">$7,760,000</TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">$1,008</TD></TR>
</TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(1)</TD><TD STYLE="text-align: justify">Pursuant to Rule 416(a) of the Securities Act of 1933,
as amended (the &ldquo;Securities Act&rdquo;), this Registration Statement shall also cover any additional shares of the common
stock, $0.0001 par value per share (&ldquo;Common Stock&rdquo;), of FuelCell Energy, Inc. that become issuable under the FuelCell
Energy, Inc. 2018 Omnibus Incentive Plan, as amended and restated, by reason of any stock dividend, stock split, recapitalization
or other similar transaction effected without receipt of consideration that increases the number of outstanding shares of Common
Stock.</TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(2)</TD><TD STYLE="text-align: justify">Estimated in accordance with Rule 457(c) and (h) of the
Securities Act solely for the purpose of calculating the registration fee on the basis of $1.94 per share, which is the average
of the high and low prices of the Common Stock, as reported on The Nasdaq Global Market, on May 19, 2020.</TD>
</TR></TABLE>

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<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>STATEMENT PURSUANT
TO GENERAL INSTRUCTION E TO FORM S-8</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">The purpose of this Registration Statement
is to register 4,000,000 additional shares of the common stock, $0.0001 par value per share (&ldquo;Common Stock&rdquo;), of FuelCell
Energy, Inc. (the &ldquo;Company&rdquo;) in connection with the Company&rsquo;s 2018 Omnibus Incentive Plan, as amended and restated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Pursuant
to General Instruction E of Form S-8, the contents of the Company&rsquo;s Registration Statement on Form S-8 (Reg. No. <A HREF="http://www.sec.gov/Archives/edgar/data/886128/000114420418019341/tv490374_s8.htm">333-224154</A>),
including the documents incorporated by reference therein, are incorporated by reference into this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase; text-align: center">PART II</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase; text-align: center">INFORMATION
REQUIRED IN THE REGISTRATION STATEMENT</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in"><B>Item 3. </B></TD>
    <TD><B>Incorporation of Documents by Reference.</B></TD></TR>
</TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">FuelCell Energy, Inc. (the &ldquo;Company&rdquo;
or the &ldquo;Registrant&rdquo;) hereby incorporates by reference into this Registration Statement the documents listed in (a)
through (d) below, which have previously been filed with the Securities and Exchange Commission (the &ldquo;Commission&rdquo;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&rsquo;s Annual Report on <A HREF="http://www.sec.gov/Archives/edgar/data/886128/000156459020001558/fcel-10k_20191031.htm">Form 10-K for the fiscal year ended October 31, 2019, filed on January 22, 2020</A>;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&rsquo;s Quarterly Report on <A HREF="http://www.sec.gov/Archives/edgar/data/886128/000156459020010983/fcel-10q_20200131.htm">Form 10-Q for the fiscal quarter ended January 31, 2020, filed on March 16, 2020</A>;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&rsquo;s Current Reports on Form 8-K, filed on <A HREF="http://www.sec.gov/Archives/edgar/data/886128/000156459019040696/fcel-8k_20191030.htm">November 6, 2019</A> (excluding Item 7.01 and Exhibits 99.1, 99.2 and 99.3 of
Item 9.01), <A HREF="http://www.sec.gov/Archives/edgar/data/886128/000156459019044294/fcel-8k_20191120.htm">November 25, 2019</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/886128/000110465919072015/tm1925071-1_8kseq.htm">December 12, 2019</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/886128/000110465919074667/tm19267121_8k.htm">December 20, 2019</A> (excluding Item 7.01 and Exhibit 99.1 of Item 9.01), <A HREF="http://www.sec.gov/Archives/edgar/data/886128/000156459020000950/fcel-8k_20200113.htm">January 13, 2020</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/886128/000156459020004587/fcel-8k_20200211.htm">February 13, 2020</A> (excluding Item 7.01 and Exhibit 99.1 of Item 9.01), <A HREF="http://www.sec.gov/Archives/edgar/data/886128/000156459020005787/fcel-8k_20200219.htm">February 21, 2020</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/886128/000156459020011955/fcel-8k_20200318.htm">March 20, 2020</A> (excluding
Item 7.01 and Exhibit 99.1 of Item 9.01), <A HREF="http://www.sec.gov/Archives/edgar/data/886128/000156459020015607/fcel-8k_20200407.htm">April 7, 2020</A> (excluding Item 7.01 and Exhibit 99.1 of Item 9.01), <A HREF="http://www.sec.gov/Archives/edgar/data/886128/000156459020016031/fcel-8k_20200409.htm">April 9, 2020</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/886128/000156459020018491/fcel-8k_20200420.htm">April 24, 2020</A> (excluding Item 7.01), <A HREF="http://www.sec.gov/Archives/edgar/data/886128/000156459020020626/fcel-8k_20200430.htm">May 4, 2020</A> (excluding Item 7.01 and Exhibit 99.1 of Item 9.01),  <A HREF="http://www.sec.gov/Archives/edgar/data/886128/000156459020024506/fcel-8k_20200508.htm">May 12, 2020</A> (excluding Item
7.01 and Exhibit 99.1 of Item 9.01), and <A HREF="http://www.sec.gov/Archives/edgar/data/886128/000156459020025844/fcel-8k_20200511.htm" STYLE="-sec-extract: exhibit">May 15, 2020</A>; and</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
description of the Company&rsquo;s common stock contained in its registration statement on <A HREF="http://www.sec.gov/Archives/edgar/data/886128/000104264500000195/0001042645-00-000195-0001.txt">Form 8-A, filed on June 6, 2000</A>, including
any amendments or reports filed for the purposes of updating this description.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">In addition, all documents filed with the
Commission by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as amended (the
 &ldquo;Exchange Act&rdquo;), on or after the date of this Registration Statement and prior to the filing of a post-effective amendment
to this Registration Statement that indicates that all securities offered hereunder have been sold or that deregisters all securities
then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from
the date of filing of such documents;&nbsp;<I>provided, however,</I>&nbsp;that documents or information deemed to have been furnished
and not filed in accordance with the rules of the Commission shall not be deemed incorporated by reference into this Registration
Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Any statement contained in a document incorporated
or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration
Statement to the extent that a statement contained herein or in any subsequently filed document that also is incorporated or deemed
to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall
not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in"><B>Item 8.</B></TD>
    <TD><B>Exhibits.</B></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 0.65in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: Black 0.5pt solid"><B>Exhibit<BR>
        Number</B></P></TD>
    <TD STYLE="width: 0.1in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Description</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 0.75in"><P STYLE="border-bottom: Black 0.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000088612899000032/0000886128-99-000032.txt" STYLE="-sec-extract: exhibit">4.1</A></TD>
    <TD STYLE="padding-top: 3pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding-top: 3pt">
        <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000088612899000032/0000886128-99-000032.txt" STYLE="-sec-extract: exhibit">Certificate of Incorporation of the Company, as amended, July 12, 1999 (incorporated by reference to Exhibit 3.1 to the Company&rsquo;s Current Report on Form 8-K dated September 21, 1999).</A></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000088612817000007/fcel-20161031xex33.htm" STYLE="-sec-extract: exhibit">4.2</A></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">
        <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000088612817000007/fcel-20161031xex33.htm" STYLE="-sec-extract: exhibit">Certificate of Amendment of the Certificate of Incorporation of the Company, dated November 21, 2000 (incorporated by reference to Exhibit 3.3 to the Company&rsquo;s Annual Report on Form 10-K dated January 12, 2017).</A></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000100329703000432/ex3-11.htm" STYLE="-sec-extract: exhibit">4.3</A></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">
        <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.05in 0pt 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000100329703000432/ex3-11.htm" STYLE="-sec-extract: exhibit">Certificate of Amendment of the Certificate of Incorporation of the Company, dated October 31, 2003 (incorporated by reference to Exhibit 3.11 to the Company&rsquo;s Current Report on Form 8-K dated November 3, 2003).</A></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000088612817000007/fcel-20161031xex34.htm" STYLE="-sec-extract: exhibit">4.4</A></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">
        <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000088612817000007/fcel-20161031xex34.htm" STYLE="-sec-extract: exhibit">Amended Certificate of Designation of Series B Cumulative Convertible Perpetual Preferred Stock, dated March 14, 2005 (incorporated by reference to Exhibit 3.4 to the Company&rsquo;s Annual Report on Form 10-K dated January 12, 2017).</A></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000088612817000007/fcel-20161031xex35.htm" STYLE="-sec-extract: exhibit">4.5</A></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">
        <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000088612817000007/fcel-20161031xex35.htm" STYLE="-sec-extract: exhibit">Certificate of Amendment of the Certificate of Incorporation of the Company, dated April 8, 2011 (incorporated by reference to Exhibit 3.5 to the Company&rsquo;s Annual Report on Form 10-K dated January 12, 2017).</A></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000088612817000007/fcel-20161031xex36.htm" STYLE="-sec-extract: exhibit">4.6</A></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">
        <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000088612817000007/fcel-20161031xex36.htm" STYLE="-sec-extract: exhibit">Certificate of Amendment of the Certificate of Incorporation of the Company, dated April 5, 2012 (incorporated by reference to Exhibit 3.6 to the Company&rsquo;s Annual Report on Form 10-K dated January 12, 2017).</A></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000088612815000023/exhibit3112-3x15.htm" STYLE="-sec-extract: exhibit">4.7</A></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">
        <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000088612815000023/exhibit3112-3x15.htm" STYLE="-sec-extract: exhibit">Certificate of Amendment of the Certificate of Incorporation of the Company, dated December 3, 2015 (incorporated by reference to Exhibit 3.1 to the Company&rsquo;s Current Report on Form 8-K dated December 3, 2015).</A></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000088612816000054/fcel-2016430xex39.htm" STYLE="-sec-extract: exhibit">4.8</A></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">
        <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000088612816000054/fcel-2016430xex39.htm" STYLE="-sec-extract: exhibit">Certificate of Amendment of the Certificate of Incorporation of the Company, dated April 18, 2016 (incorporated by reference to Exhibit 3.9 to the Company&rsquo;s Quarterly Report on Form 10-Q for the period ending April 30, 2016).</A></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000156459017012328/fcel-ex310_243.htm" STYLE="-sec-extract: exhibit">4.9</A></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">
        <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000156459017012328/fcel-ex310_243.htm" STYLE="-sec-extract: exhibit">Certificate of Amendment of the Certificate of Incorporation of the Company, dated April 7, 2017 (incorporated by reference to Exhibit 3.10 to the Company&rsquo;s Quarterly Report on Form 10-Q for the period ending April 30, 2017).</A></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000114420417063979/tv481509_ex3-1.htm" STYLE="-sec-extract: exhibit">4.10</A></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">
        <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000114420417063979/tv481509_ex3-1.htm" STYLE="-sec-extract: exhibit">Certificate of Amendment of the Certificate of Incorporation of the Company, dated December 14, 2017 (incorporated by reference to Exhibit 3.1 to the Company&rsquo;s Current Report on Form 8-K dated December 14, 2017).</A></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000156459019017009/fcel-ex31_9.htm" STYLE="-sec-extract: exhibit">4.11</A></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">
        <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000156459019017009/fcel-ex31_9.htm" STYLE="-sec-extract: exhibit">Certificate of Amendment of the Certificate of Incorporation of the Company, dated May 8, 2019 (incorporated by reference to Exhibit 3.1 to the Company&rsquo;s Current Report on Form 8-K filed on May 8, 2019).</A></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000156459020024506/fcel-ex31_79.htm" STYLE="-sec-extract: exhibit">4.12</A></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; font-size: 10pt; text-indent: 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000156459020024506/fcel-ex31_79.htm" STYLE="-sec-extract: exhibit">Certificate of Amendment of the Certificate of Incorporation of the Company, dated May 11, 2020 (incorporated by reference to Exhibit 3.1 to the Company&rsquo;s Current Report on Form 8-K filed on May 12, 2020).</A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000088612816000077/exhibit3212-15x2016.htm" STYLE="-sec-extract: exhibit">4.13</A></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">
        <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000088612816000077/exhibit3212-15x2016.htm" STYLE="-sec-extract: exhibit">Amended and Restated By-Laws of the Company, dated December 15, 2016 (incorporated by reference to Exhibit 3.2 to the Company&rsquo;s Current Report on Form 8-K dated December 15, 2016).</A></P></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000089155400000162/0000891554-00-000162.txt" STYLE="-sec-extract: exhibit">4.14</A></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">
        <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000089155400000162/0000891554-00-000162.txt" STYLE="-sec-extract: exhibit">Specimen of Common Share Certificate (incorporated by reference to Exhibit 4 to the Company&rsquo;s Annual Report on Form 10-K for fiscal year ended October 31, 1999).</A></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000136231009003678/c82457exv4w2.htm" STYLE="-sec-extract: exhibit">4.15</A></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">
        <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000136231009003678/c82457exv4w2.htm" STYLE="-sec-extract: exhibit">Schedule A to Articles of Amendment of FuelCell Energy, Ltd., setting forth the rights, privileges, restrictions and conditions of Class A Cumulative Redeemable Exchangeable Preferred Shares (incorporated by reference to Exhibit 4.2 to the Company&rsquo;s Quarterly Report on Form 10-Q for the period ended January 31, 2009).</A></P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">4.16</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">
        <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Letter Agreement, dated March 31, 2011, and Guarantee,
dated April 1, 2011, by and between the Company and Enbridge, Inc., and Revised Special Rights and Restrictions attributable to
the Class A Preferred Stock of FuelCell Energy, Ltd. (incorporated by reference to <A HREF="http://www.sec.gov/Archives/edgar/data/886128/000095012311033373/c15087exv4w1.htm" STYLE="-sec-extract: exhibit">Exhibits 4.1</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/886128/000095012311033373/c15087exv4w2.htm" STYLE="-sec-extract: exhibit">4.2</A> and <A HREF="http://www.sec.gov/Archives/edgar/data/886128/000095012311033373/c15087exv4w3.htm" STYLE="-sec-extract: exhibit">4.3</A> to the Company&rsquo;s
Current Report on Form 8-K dated March 31, 2011).</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000114420404020159/v08931_ex3-1.htm" STYLE="-sec-extract: exhibit">4.17</A></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">
        <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000114420404020159/v08931_ex3-1.htm" STYLE="-sec-extract: exhibit">Certificate of Designation for the Company&rsquo;s 5% Series B Cumulative Convertible Perpetual Preferred Stock (incorporated by reference to Exhibit 3.1 to the Company&rsquo;s Current Report Form 8-K, dated November 22, 2004).</A></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000114420417047252/v474606_ex3-1.htm" STYLE="-sec-extract: exhibit">4.18</A></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">
        <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000114420417047252/v474606_ex3-1.htm" STYLE="-sec-extract: exhibit">Certificate of Designations for the Company&rsquo;s Series C Convertible Preferred Stock (incorporated by reference to Exhibit 3.1 to the Company&rsquo;s Current Report on Form 8-K, dated September 5, 2017).</A></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000114420418047136/tv501807_ex3-1.htm" STYLE="-sec-extract: exhibit">4.19</A></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">
        <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000114420418047136/tv501807_ex3-1.htm" STYLE="-sec-extract: exhibit">Certificate of Designations, Preferences and Rights for the Company&rsquo;s Series D Convertible Preferred Stock (incorporated by reference to Exhibit 3.1 to the Company&rsquo;s Current Report on Form 8-K dated August 27, 2018).</A></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000114420418047136/tv501807_ex4-1.htm" STYLE="-sec-extract: exhibit">4.20</A></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">
        <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.05in 0pt 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000114420418047136/tv501807_ex4-1.htm" STYLE="-sec-extract: exhibit">Specimen Series D Convertible Preferred Stock Certificate (incorporated by reference to Exhibit 4.1 to the Company&rsquo;s Current Report on Form 8-K dated August 27, 2018).</A></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000119312516642813/d189444dex103.htm" STYLE="-sec-extract: exhibit">4.21</A></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">
        <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.05in 0pt 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000119312516642813/d189444dex103.htm" STYLE="-sec-extract: exhibit">Form of Series A Warrants to purchase common stock (incorporated by reference to Exhibit 10.3 to the Company's Current Report on Form 8-K dated July 6, 2016).</A></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000119312516642813/d189444dex104.htm" STYLE="-sec-extract: exhibit">4.22</A></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">
        <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.05in 0pt 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000119312516642813/d189444dex104.htm" STYLE="-sec-extract: exhibit">Form of Series B Warrants to purchase common stock (incorporated by reference to Exhibit 10.4 to the Company's Current Report on Form 8-K dated July 6, 2016).</A></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0; width: 0.65in">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 0.1in">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 0.75in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000119380517000710/e616082_ex4-1.htm" STYLE="-sec-extract: exhibit">4.23</A></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">
        <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.05in 0pt 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000119380517000710/e616082_ex4-1.htm" STYLE="-sec-extract: exhibit">Form of Series C Warrants to purchase common stock (incorporated by reference to Exhibit 4.1 to the Company's Current Report on Form 8-K dated April 27, 2017).</A></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000119380517000710/e616082_ex4-2.htm" STYLE="-sec-extract: exhibit">4.24</A></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">
        <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.05in 0pt 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000119380517000710/e616082_ex4-2.htm" STYLE="-sec-extract: exhibit">Form of Series D Warrants to purchase common stock (incorporated by reference to Exhibit 4.2 to the Company's Current Report on Form 8-K dated April 27, 2017).</A></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000156459019040696/fcel-ex106_37.htm" STYLE="-sec-extract: exhibit">4.25</A></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">
        <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.05in 0pt 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000156459019040696/fcel-ex106_37.htm" STYLE="-sec-extract: exhibit">Form of Warrant to purchase common stock (incorporated by reference to Exhibit 10.6 to the Company&rsquo;s Current Report on Form 8-K filed on November 6, 2019).</A></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000156459020001558/fcel-ex413_787.htm" STYLE="-sec-extract: exhibit">4.26</A></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">
        <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.05in 0pt 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000156459020001558/fcel-ex413_787.htm" STYLE="-sec-extract: exhibit">Letter Agreement, dated January 20, 2020, among the Company, FCE FuelCell Energy Ltd., and Enbridge Inc. relating to the amendment of the terms of the Class A Cumulative Preferred Stock of FCE FuelCell Energy Ltd. (incorporated by reference to Exhibit 4.13 to the Company&rsquo;s Annual Report on Form 10-K for the fiscal year ended October 31, 2019).</A></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000156459020001558/fcel-ex414_986.htm" STYLE="-sec-extract: exhibit">4.27</A></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">
        <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.05in 0pt 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000156459020001558/fcel-ex414_986.htm" STYLE="-sec-extract: exhibit">Schedule A setting forth the amended rights, privileges, restrictions and conditions of the Class A Cumulative Preferred Stock of FCE FuelCell Energy Ltd. (incorporated by reference to Exhibit 4.14 to the Company&rsquo;s Annual Report on Form 10-K for the fiscal year ended October 31, 2019).</A></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000156459020024506/fcel-ex101_9.htm" STYLE="-sec-extract: exhibit">4.28</A></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; font-size: 10pt; text-indent: 0"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000156459020024506/fcel-ex101_9.htm" STYLE="-sec-extract: exhibit">FuelCell Energy, Inc. 2018 Omnibus Incentive Plan, as amended and restated, effective as of May 8, 2020 (incorporated by reference to Exhibit 10.1 to the Company&rsquo;s Current Report on Form 8-K filed on May 12, 2020).</A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0"><A HREF="tm2019385d1_ex5-1.htm" STYLE="-sec-extract: exhibit">5.1</A></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">
        <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A HREF="tm2019385d1_ex5-1.htm" STYLE="-sec-extract: exhibit">Opinion of Foley &amp; Lardner LLP (including consent of counsel).</A>&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0"><A HREF="tm2019385d1_ex23-1.htm" STYLE="-sec-extract: exhibit">23.1</A></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">
        <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A HREF="tm2019385d1_ex23-1.htm" STYLE="-sec-extract: exhibit">Consent of KPMG LLP.</A></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0"><A HREF="tm2019385d1_ex5-1.htm" STYLE="-sec-extract: exhibit">23.2</A></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">
        <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A HREF="tm2019385d1_ex5-1.htm" STYLE="-sec-extract: exhibit">Consent of Foley &amp; Lardner LLP (included in Exhibit 5.1)</A>.&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0"><A HREF="#a_001" STYLE="-sec-extract: exhibit">24.1</A></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; padding: 0; text-indent: 0">
        <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A HREF="#a_001" STYLE="-sec-extract: exhibit">Powers of Attorney (included on signature page).</A></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">SIGNATURES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing
on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized,
in the City of Danbury, State of Connecticut, on May 22, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>FUELCELL ENERGY, INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; width: 50%">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 2%">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 48%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">By:&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-indent: 0">/s/ <FONT STYLE="font-size: 10pt">Jason B. Few</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Jason B. Few</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">President, Chief Executive Officer and Chief Commercial Officer</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase; text-align: center"><A NAME="a_001"></A>POWER OF
ATTORNEY</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">KNOW ALL PERSONS BY THESE PRESENTS, that
each person whose signature appears below constitutes and appoints Jason B. Few, Jennifer D. Arasimowicz and Michael S. Bishop,
and each of them, as his or her true and lawful attorneys-in-fact and agents, with full power of substitution and re-substitution,
for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective
amendments) to this Registration Statement, and to file the same, with all exhibits thereto, and other documents in connection
therewith, with the Securities and Exchange Commission, and any other regulatory authority, granting unto said attorneys-in-fact
and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to
be done in connection therewith, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying
and confirming all that said attorneys-in-fact and agents or any of them, or their substitutes, may lawfully do or cause to be
done by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Act of 1933, this Registration Statement has been signed by the following persons in the capacities indicated on May 22, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; width: 49%; text-align: center"><FONT STYLE="font-size: 10pt">Signature</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 49%; text-align: center"><FONT STYLE="font-size: 10pt">Title</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0">
        <P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Jason B. Few</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Jason B. Few</P></TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0"><FONT STYLE="font-size: 10pt">President, Chief Executive Officer, Chief Commercial Officer and Director<BR>
(Principal Executive Officer and Director)&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0">
        <P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Michael S. Bishop</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Michael S. Bishop</P></TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Executive Vice President, Chief Financial Officer and Treasurer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Principal Financial Officer and Principal Accounting
Officer)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0">
        <P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ James H. England</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">James H. England</P></TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0"><FONT STYLE="font-size: 10pt">Director &ndash; Chairman of the Board</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0">
        <P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Chris Groobey</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chris Groobey</P></TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0"><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0">
        <P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Matthew F. Hilzinger</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Matthew F. Hilzinger</P></TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0"><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0">
        <P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Natica von Althann</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Natica von Althann</P></TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0"><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>tm2019385d1_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 5.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 70%">
        <IMG SRC="image_001.jpg" ALT=""><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
        <P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="width: 30%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><FONT STYLE="font-size: 7pt"><B>ATTORNEYS
                           AT LAW</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><FONT STYLE="font-size: 7pt">111
        Huntington Avenue</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><FONT STYLE="font-size: 7pt">Boston,
        Massachusetts 02199</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><FONT STYLE="font-size: 7pt">617.342.4000
        TEL</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><FONT STYLE="font-size: 7pt">617.342.4001
        FAX</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt; text-transform: uppercase">www.foley.com</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">CLIENT/MATTER NUMBER</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">106876-0129</FONT></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">May 22, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">FuelCell Energy, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">3 Great Pasture Road</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Danbury, Connecticut 06810 &nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">Re:</TD><TD STYLE="text-align: justify">FuelCell Energy, Inc. 2018 Omnibus Incentive Plan</TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">We have acted as counsel for FuelCell Energy,
Inc., a Delaware corporation (the &ldquo;Company&rdquo;), in connection with the preparation of a Registration Statement on Form
S-8 (the &ldquo;Registration Statement&rdquo;) filed by the Company with the Securities and Exchange Commission under the Securities
Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), relating to 4,000,000 shares of common stock, par value $0.0001 per
share, of the Company (the &ldquo;Shares&rdquo;) that may be issued pursuant to the FuelCell Energy, Inc. 2018 Omnibus Incentive
Plan, as amended and restated (the &ldquo;Plan&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">In connection with our representation, we
have examined: (i) the Plan; (ii) the Registration Statement; (iii) the Certificate of Incorporation of the Company, as amended;
(iv) the Amended and Restated By-Laws of the Company; (v) resolutions of the Board of Directors of the Company relating to the
Plan and the issuance of the Shares thereunder; and (vi) such other documents and records as we have deemed necessary to enable
us to render this opinion. In our examination of the above-referenced documents, we have assumed the genuineness of all signatures,
the authenticity of all documents, certificates, and instruments submitted to us as originals and the conformity with the originals
of all documents submitted to us as copies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">We express no opinion herein as to the laws
of any state or jurisdiction other than the General Corporation Law of the State of Delaware and the federal laws of the United
States of America. This opinion is being furnished in connection with the requirements of Item 601(b)(5) of Regulation S-K under
the Securities Act, and no opinion is expressed herein as to any matter pertaining to the contents of the Registration Statement
or the prospectus that forms a part thereof, other than as expressly stated herein with respect to the issuance of the Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Based upon and subject to the foregoing, we
are of the opinion that the Shares covered by the Registration Statement, when issued and paid for pursuant to the terms and conditions
of the Plan, and as contemplated by the Registration Statement, will be validly issued, fully paid and nonassessable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; width: 20%; text-indent: 0"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><FONT STYLE="font-size: 7pt">AUSTIN</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><FONT STYLE="font-size: 7pt">Boston</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><FONT STYLE="font-size: 7pt">CHICAGO</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><FONT STYLE="font-size: 7pt">dallas</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><FONT STYLE="font-size: 7pt">DENVER</FONT></P></TD>
    <TD STYLE="padding: 0; width: 20%; text-indent: 0"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><FONT STYLE="font-size: 7pt">DETROIT</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><FONT STYLE="font-size: 7pt">houston</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><FONT STYLE="font-size: 7pt">JACKSONVILLE</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><FONT STYLE="font-size: 7pt">LOS
        ANGELES</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><FONT STYLE="font-size: 7pt">MADISON</FONT></P></TD>
    <TD STYLE="padding: 0; width: 20%; text-indent: 0"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><FONT STYLE="font-size: 7pt">MEXICO
        CITY</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><FONT STYLE="font-size: 7pt">MIAMI</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><FONT STYLE="font-size: 7pt">MILWAUKEE</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><FONT STYLE="font-size: 7pt">NEW
        YORK</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><FONT STYLE="font-size: 7pt">ORLANDO</FONT></P></TD>
    <TD STYLE="padding: 0; width: 20%; text-indent: 0"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><FONT STYLE="font-size: 7pt">SACRAMENTO</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><FONT STYLE="font-size: 7pt">SAN
        DIEGO</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><FONT STYLE="font-size: 7pt">SAN
        FRANCISCO</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><FONT STYLE="font-size: 7pt">SILICON
        VALLEY</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><FONT STYLE="font-size: 7pt">TALLAHASSEE</FONT></P></TD>
    <TD STYLE="padding: 0; width: 20%; text-indent: 0"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><FONT STYLE="font-size: 7pt">TAMPA</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><FONT STYLE="font-size: 7pt">WASHINGTON,
        D.C.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><FONT STYLE="font-size: 7pt">BRUSSELS</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><FONT STYLE="font-size: 7pt">TOKYO</FONT></P></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="image_001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">May 22, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page 2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">We hereby consent to the use of this opinion
letter as an exhibit to the Registration Statement and to the reference to our firm in the Registration Statement. In giving our
consent, we do not admit that we are &ldquo;experts&rdquo; within the meaning of Section 11 of the Securities Act or within the
category of persons whose consent is required by Section 7 of the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="padding: 0; width: 50%; font-size: 10pt; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Very truly yours,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ FOLEY &amp; LARDNER LLP</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FOLEY &amp; LARDNER LLP</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>



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<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>3
<FILENAME>tm2019385d1_ex23-1.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 23.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Consent of Independent Registered Public
Accounting Firm</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Board of Directors<BR>
FuelCell Energy, Inc.:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We consent to the use of our report dated January 22, 2020,
with respect to the consolidated balance sheets of FuelCell Energy, Inc. and subsidiaries as of October 31, 2019 and 2018, the
related consolidated statements of operations and comprehensive loss, changes in equity, and cash flows for each of the years in
the three-year period ended October&nbsp;31, 2019, and the related notes, incorporated herein by reference.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our report refers to a change in the Company&rsquo;s
method of accounting for revenue due to the adoption of new accounting guidance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">/s/ KPMG LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Hartford, Connecticut</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">May 22, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>



<P STYLE="margin: 0"></P>

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