FuelCell Energy expands Calgary lease, adds 48k sq ft solid oxide facility through 2028

FUELCELL ENERGY INC

Versa Power Systems extends Calgary lease to Sep 2028 and adds ~48k sq ft, total ~80k sq ft.
Annual base rent: ~$260k CAD for original space and ~$386k CAD for additional, both rising 3% yearly.
Additional space expected to commence Oct 2023, used for solid oxide R&D, manufacturing, hydrogen generation/storage.
Lease holds no renewal option; future extensions require mutual agreement.

item 1.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

FUELCELL ENERGY INC amended 2023 Lease Amendment with 52nd Street Business Centre LP (effective 2023-01-05).

Action: amendment
Agreement: lease
Counterparty: 52nd Street Business Centre LP
Effective: 2023-01-05

Exact text from the filing

On January 5, 2023, Versa Power Systems Ltd. (“Versa”), a wholly owned subsidiary of FuelCell Energy, Inc. (“Company”), and 52 nd Street Business Centre LP, by its General Partner, 52 nd Street Business Centre GP Inc. (the “Landlord”) entered into a Lease Expansion, Extension and Amending Agreement (the “2023 Lease Amendment”) to the existing lease between the parties

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Source: SEC EDGAR

accession 0001558370-23-000211

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