<SEC-DOCUMENT>0001104659-21-048117.txt : 20210408
<SEC-HEADER>0001104659-21-048117.hdr.sgml : 20210408
<ACCEPTANCE-DATETIME>20210408165731
ACCESSION NUMBER:		0001104659-21-048117
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		5
FILED AS OF DATE:		20210408
DATE AS OF CHANGE:		20210408
EFFECTIVENESS DATE:		20210408

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FUELCELL ENERGY INC
		CENTRAL INDEX KEY:			0000886128
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRICAL INDUSTRIAL APPARATUS [3620]
		IRS NUMBER:				060853042
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-255131
		FILM NUMBER:		21815410

	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>tm2112240d1_s8.htm
<DESCRIPTION>FORM S-8
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>As filed with the Securities and Exchange Commission
on April 8, 2021</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: 0pt 0; 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: 0pt 0; text-align: center"><B>FORM S-8<BR>
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933<BR></B></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"></P>

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<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"><B></B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FUELCELL ENERGY, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in its charter)</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 45%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="width: 10%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 45%; text-align: center"><FONT STYLE="font-size: 10pt"><B>06-0853042</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(State or other jurisdiction of <BR>
incorporation or organization)</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(I.R.S. Employer Identification No.)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; 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="text-align: center"><FONT STYLE="font-size: 10pt"><B><BR>
06810<BR>
</B>(Zip Code)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 2in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FUELCELL ENERGY, INC. SECOND AMENDED AND RESTATED<BR>
2018 OMNIBUS INCENTIVE PLAN<BR>
</B>(Full title of the plan)</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; text-indent: 2in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 2in">&nbsp;&nbsp;</P>

<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, including
area<BR>
code, of agent for service)</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</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%">
    <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&nbsp;</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 Secretary and Chief Administrative 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&nbsp;</B></P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<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">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>

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

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    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">Large accelerated
filer&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="text-align: right; width: 45%"><FONT STYLE="font-size: 10pt">Accelerated filer&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="width: 5%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Non-accelerated filer &nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings">&#120;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">Smaller reporting company&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings">&#120;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">Emerging growth company&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD>&nbsp;</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"><FONT STYLE="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; text-indent: 2in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 2in">&nbsp;&nbsp;</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 2.5pt; width: 40%; border: Black 1pt solid; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Title of Securities to be Registered</B></FONT></TD>
    <TD STYLE="padding: 2.5pt; width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0">
    <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 (1)</B></P></TD>
    <TD STYLE="padding: 2.5pt; width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Proposed <BR>
Maximum <BR>
Offering Price <BR>
Per Share (2)</B></FONT></TD>
    <TD STYLE="padding: 2.5pt; width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Proposed Maximum <BR>
Aggregate Offering <BR>
Price</B></FONT></TD>
    <TD STYLE="padding: 2.5pt; width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Amount of <BR>
Registration Fee</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2.5pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-indent: 0"><FONT STYLE="font-size: 10pt">Common Stock, $0.0001 par value per share</FONT></TD>
    <TD STYLE="padding: 2.5pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt">8,000,000 shares</FONT></TD>
    <TD STYLE="padding: 2.5pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt">$13.77</FONT></TD>
    <TD STYLE="padding: 2.5pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt">$110,160,000</FONT></TD>
    <TD STYLE="padding: 2.5pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt">$12,019</FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 5pt; width: 0"></TD><TD STYLE="padding-top: 5pt; width: 0.25in">(1)</TD><TD STYLE="padding-top: 5pt">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. Second Amended and Restated 2018 Omnibus Incentive Plan
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>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>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 $13.77 per share, which is the
average of the high and low prices of the Common Stock, as reported on The Nasdaq Global Market, on April 6, 2021.</TD></TR></TABLE>

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

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

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

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

<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>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The purpose of this Registration Statement is to
register 8,000,000 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 Second Amended and Restated 2018 Omnibus Incentive Plan.</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">Pursuant to General Instruction E of Form S-8,
the contents of the Company&rsquo;s Registration Statements on Form S-8 filed on April 5, 2018 (Reg. No. 333-224154) and May 22, 2020
(Reg. No. 333-238609), including the documents incorporated by reference therein, are incorporated by reference into this Registration
Statement.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 3. Incorporation of Documents by Reference.</B></P>

<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; text-indent: 0.5in">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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in">(a)</TD>
    <TD>The Company&rsquo;s Annual Report on Form 10-K for the fiscal year ended October 31, 2020, filed on <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/886128/000156459021001679/fcel-10k_20201031.htm" STYLE="-sec-extract: exhibit">January 21, 2021</A>;</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%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in">(b)</TD>
    <TD>The Company&rsquo;s Quarterly Report on Form 10-Q for the fiscal quarter ended January 31, 2021, filed on <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/886128/000156459021013322/fcel-10q_20210131.htm" STYLE="-sec-extract: exhibit">March 16, 2021</A>;</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%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in">(c)</TD>
    <TD>The Company&rsquo;s Current Reports on Form 8-K, filed on <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/886128/000156459020055317/fcel-8k_20201124.htm" STYLE="-sec-extract: exhibit">November
27, 2020</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/886128/000110465920131107/tm2037325d1_8k.htm" STYLE="-sec-extract: exhibit">December
1, 2020</A> (excluding Item 2.02), <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/886128/000110465920132460/tm2037722d1_8k.htm" STYLE="-sec-extract: exhibit">December
4, 2020</A> (excluding Item 7.01 and Exhibits 99.1, 99.2 and 99.3 of Item 9.01), <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/886128/000156459020056494/fcel-8k_20201207.htm" STYLE="-sec-extract: exhibit">December
9, 2020</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/886128/000156459020057855/fcel-8k_20201216.htm" STYLE="-sec-extract: exhibit">December
21, 2020</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/886128/000156459021001515/fcel-8k_20210119.htm" STYLE="-sec-extract: exhibit">January
20, 2021</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/886128/000156459021005061/fcel-8k_20210209.htm" STYLE="-sec-extract: exhibit">February
10, 2021</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/886128/000156459021005564/fcel-8k_20210211.htm" STYLE="-sec-extract: exhibit">February
11, 2021</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/886128/000156459021018174/fcel-8k_20210408.htm">April 8, 2021</A> (excluding Item 7.01 and Exhibit 99.1 of Item 9.01); and</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%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px">(d)</TD>
    <TD>The description of the Company&rsquo;s common stock contained in its registration statement on Form 8-A, filed on <A HREF="https://www.sec.gov/Archives/edgar/data/886128/000104264500000195/0001042645-00-000195-0001.txt" STYLE="-sec-extract: exhibit">June 6, 2000</A>, including any amendments or reports filed for the purposes of updating this description.</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; text-indent: 0.5in">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; margin: 0pt 0; text-indent: 0.5in">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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<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"><B>Item 8.&#9;Exhibits. </B></P>

<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="border-bottom: Black 1pt solid; text-align: left; vertical-align: top; width: 0.65in">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Exhibit</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Number</B></P></TD>
    <TD STYLE="vertical-align: top; width: 0.1in; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center"><B>Description</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: left; width: 0.75in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/886128/000088612899000032/0000886128-99-000032.txt" STYLE="-sec-extract: exhibit">4.1</A></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><A HREF="https://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></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/886128/000088612817000007/fcel-20161031xex33.htm" STYLE="-sec-extract: exhibit">4.2</A></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><A HREF="https://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></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/886128/000100329703000432/ex3-11.htm" STYLE="-sec-extract: exhibit">4.3</A></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><A HREF="https://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></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/886128/000088612817000007/fcel-20161031xex34.htm" STYLE="-sec-extract: exhibit">4.4</A></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><A HREF="https://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></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/886128/000088612817000007/fcel-20161031xex35.htm" STYLE="-sec-extract: exhibit">4.5</A></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><A HREF="https://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></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/886128/000088612817000007/fcel-20161031xex36.htm" STYLE="-sec-extract: exhibit">4.6</A></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><A HREF="https://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></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/886128/000088612815000023/exhibit3112-3x15.htm" STYLE="-sec-extract: exhibit">4.7</A></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><A HREF="https://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).&nbsp;</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/886128/000088612816000054/fcel-2016430xex39.htm" STYLE="-sec-extract: exhibit">4.8</A></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><A HREF="https://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></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/886128/000156459017012328/fcel-ex310_243.htm" STYLE="-sec-extract: exhibit">4.9</A></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><A HREF="https://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></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/886128/000114420417063979/tv481509_ex3-1.htm" STYLE="-sec-extract: exhibit">4.10</A></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><A HREF="https://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></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/886128/000156459019017009/fcel-ex31_9.htm" STYLE="-sec-extract: exhibit">4.11</A></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><A HREF="https://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></TD></TR>
</TABLE>

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

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

<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="text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/886128/000156459020024506/fcel-ex31_79.htm" STYLE="-sec-extract: exhibit">4.12</A></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><A HREF="https://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="text-align: left; width: 0.65in">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 0.1in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 0.75in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/886128/000156459021018174/fcel-ex31_7.htm" STYLE="-sec-extract: exhibit">4.13</A></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/886128/000156459021018174/fcel-ex31_7.htm" STYLE="-sec-extract: exhibit">Certificate of Amendment of the Certificate of Incorporation of the Company, dated April
8, 2021 (incorporated by reference to Exhibit 3.1 to the Company&rsquo;s Current Report on Form 8-K filed on April 8, 2021).</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/886128/000088612816000077/exhibit3212-15x2016.htm" STYLE="-sec-extract: exhibit">4.14</A></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><A HREF="https://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></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/886128/000089155400000162/0000891554-00-000162.txt" STYLE="-sec-extract: exhibit">4.15</A></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><A HREF="https://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></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/886128/000114420404020159/v08931_ex3-1.htm" STYLE="-sec-extract: exhibit">4.16</A></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><A HREF="https://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></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><A HREF="http://www.sec.gov/Archives/edgar/data/886128/000114420417047252/v474606_ex3-1.htm" STYLE="-sec-extract: exhibit">4.17</A></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><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).&nbsp;</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/886128/000114420418047136/tv501807_ex3-1.htm" STYLE="-sec-extract: exhibit">4.18</A></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><A HREF="https://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).&nbsp;</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/886128/000119380517000710/e616082_ex4-1.htm" STYLE="-sec-extract: exhibit">4.19</A></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><A HREF="https://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).&nbsp;</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/886128/000156459021018174/fcel-ex101_6.htm" STYLE="-sec-extract: exhibit">4.20</A></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/886128/000156459021018174/fcel-ex101_6.htm" STYLE="-sec-extract: exhibit">FuelCell Energy, Inc. Second Amended and Restated 2018 Omnibus Incentive Plan, effective
as of April 8, 2021 (incorporated by reference to Exhibit 10.1 to the Company&rsquo;s Current Report on Form 8-K filed on April 8, 2021).&nbsp;</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><A HREF="tm2112240d1_ex5-1.htm" STYLE="-sec-extract: exhibit">5.1</A></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><A HREF="tm2112240d1_ex5-1.htm" STYLE="-sec-extract: exhibit">
  Opinion of Foley &amp; Lardner LLP (including consent of counsel).</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><A HREF="tm2112240d1_ex23-1.htm" STYLE="-sec-extract: exhibit">23.1</A></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><A HREF="tm2112240d1_ex23-1.htm" STYLE="-sec-extract: exhibit">
    Consent of KPMG LLP.&nbsp;</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><A HREF="tm2112240d1_ex5-1.htm" STYLE="-sec-extract: exhibit">23.2</A></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><A HREF="tm2112240d1_ex5-1.htm" STYLE="-sec-extract: exhibit">Consent of Foley &amp; Lardner LLP (included in Exhibit 5.1).&nbsp;</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><A HREF="#poa" STYLE="-sec-extract: exhibit">24.1</A></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><A HREF="#poa" STYLE="-sec-extract: exhibit">Powers of Attorney (included on signature page).</A></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;&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="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 April 8, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</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"><B>FUELCELL ENERGY, INC.</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; width: 60%; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; width: 2%; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; width: 38%; text-indent: 0">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding: 0; text-indent: 0">By:&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; text-indent: 0">/s/&nbsp;Jason&nbsp;B.&nbsp;Few</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">Jason B. Few</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">President, Chief Executive Officer and Chief&nbsp;Commercial&nbsp;Officer</TD></TR>
  </TABLE>
<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"><B>&nbsp;</B></P>

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

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

<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: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="poa"></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="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-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: 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"></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 April 8, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</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="border-bottom: Black 1pt solid; width: 30%; text-align: center">Signature</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 60%; text-align: center">Title</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Jason B. Few</TD>
    <TD>&nbsp;</TD>
    <TD>President, Chief Executive Officer, Chief Commercial Officer and Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Jason B. Few</TD>
    <TD>&nbsp;</TD>
    <TD>(Principal Executive Officer and Director)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">/s/&nbsp;Michael S. Bishop</TD>
    <TD>&nbsp;</TD>
    <TD>Executive Vice President, Chief Financial Officer and Treasurer</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Michael S. Bishop</TD>
    <TD>&nbsp;</TD>
    <TD>(Principal Financial Officer and Principal Accounting Officer)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">/s/&nbsp;James H. England</TD>
    <TD>&nbsp;</TD>
    <TD>Director &ndash; Chairman of the Board</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>James H. England</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">/s/&nbsp;Chris Groobey</TD>
    <TD>&nbsp;</TD>
    <TD>Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Chris Groobey</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">/s/&nbsp;Matthew F. Hilzinger</TD>
    <TD>&nbsp;</TD>
    <TD>Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Matthew F. Hilzinger</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">/s/&nbsp;Natica von Althann</TD>
    <TD>&nbsp;</TD>
    <TD>Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Natica von Althann</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</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">&nbsp;</P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>tm2112240d1_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

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

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

<P STYLE="margin: 0; text-align: right"><B></B></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%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="image_001.jpg" ALT=""></P>
    <P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="white-space: nowrap; 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="margin-top: 0; margin-bottom: 0; text-align: center">April 8, 2021</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Danbury, Connecticut 06810</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: 0.25in; text-align: left">Re:</TD><TD STYLE="text-align: justify">FuelCell Energy, Inc. Second Amended and Restated 2018 Omnibus
Incentive Plan</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">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 8,000,000 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. Second Amended and Restated 2018 Omnibus
Incentive Plan (the &ldquo;Plan&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">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, certificates,
and instruments submitted to us as copies.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</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: 20%; padding-right: 5.4pt"><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="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt"><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="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt"><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="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt"><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="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt"><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; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><IMG SRC="image_002.jpg" ALT=""></P>

<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: 0pt 0">April 8, 2021</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">&nbsp;</P>

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

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

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

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

</TD></TR>
</TABLE>

<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: left">&nbsp;</P>

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

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

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<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>3
<FILENAME>tm2112240d1_ex23-1.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We consent to the use of our report dated January 21, 2021, with respect
to the consolidated balance sheets of FuelCell Energy, Inc. and subsidiaries as of October 31, 2020 and 2019, 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, 2020, and the related notes, incorporated herein by reference.</P>

<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; text-align: justify">Our report refers to changes in the Company&rsquo;s
methods of accounting for leases and 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="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
KPMG LLP</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Hartford, Connecticut<BR>
April 8, 2021&nbsp;</P>

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

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

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
