The ticking clock beats silently these days as it watches the greedy and evil plans being laid out by dim-witted stool pigeons unable to discern the intelligence of their masters. In the age of connectivity their disconnection from reality is now showing up in their own company’s proxy statements. The Fuelcell Energy proxy statement discloses that the Chairman of the Board and member of the Audit and Finance Committee was able to successfully negotiate for Enbridge Inc., a Canadian oil and gas company that owns all of the Class A Shares, a tripling of their dividend to 15%. That same chairman is a director at Enbridge Inc. and has purchased zero shares of common stock.
Fuelcell Energy shareholders and technology have a long history of being pumped and put out on the street to attract the next legacy energy club executive. Last summer the intellectual property was all set to be carved up. The different directors representing these special interest shareholders versus the director bondholders. It will be necessary for shareholders to vote out the entire board of directors and against all their initiatives if Fuelcell Energy shareholders want to let them know who is in charge.
Huron must have listened to a few of those mistreated shareholders about the potential for riches from the yet undisclosed carbon capturing molten carbonate fuel cell because the commoner’s shares were sold for pennies on the dollar. For doing such an admirable deed Huron was promptly paid and shown the door so the dullest remaining board members could get back to business as usual.
Now because St. Patrick is a good neighbor to St. Nick, New Energy Opportunities, LLC has some new board of director picks. The faithful proxy-voting common shareholder needs, and should demand, a seasoned veteran for negotiating with oil, gas and utility company executives and who has made winners of all stakeholders. Former Alaska Governor Sarah Palin is pick number one. She may be the only former executive with such a record of accomplishment.
As the fan club for the adept navigating abilities of Andy Marsh at Plug Power grows, it would be an honor to have him on the board. Plug has nearly already covered the entire U.S. with its own hydrogen network and their more conservative international approach is helping to build the company. The next board pick of Trevor Milton at Nikola Motors is also building a hydrogen network for large industrial customers. The kind of customers who use energy for industrial heat in addition to transportation.
A dream board would have to include Jeff Bezos, founder and chairman of Amazon and the Bezos Earth Fund. It seems Mr. Bezos has already intended to target opportunity zones for investment in the past only to be met with resistance. Fuelcell Energy would like to bring those aspirations to fruition with its next director pick of Nick Stanage of Hexcel Corporation.
There is way more revenue to be had from capturing carbon and turning it into useful materials for further manufacture into useful transportation and other products. Hexcel and its planned merger partner Woodward, supply carbon fiber materials to aerospace and other industries. Hexcel Corporation’s headquarters are in Connecticut. Adding advanced manufacturing jobs to any opportunity zone can advance whole communities and offer returns beyond just financial rewards.
Since opportunity zones represent an as-of-yet untapped source of more competitive financing terms than Orion may offer, changing the independent registered public accountant to Engineered Tax Services Inc., a public accounting firm that has led the way in helping regulators with opportunity zones regulations. They also have the largest online CPA education network that could be advantageous for an environmentally friendly fuel cell company to offer additional tax incentives to those privileged investors’ development projects via a New Energy Opportunities Fund.
To keep this dream board appraised and leading the way on the latest developments from the science of electro-chemistry, Professor Steven Suib from the University of Connecticut has one of the longest track records of educating working chemists and engineers in the fuel cell industry as any available. Fuelcell Energy would do well to have such knowledge at the board level that is not tied to an outside corporate interest.
This dream board will need to be led by the visionary sales strategy of New Energy Opportunites, LLC’s John Beidle. There is a path to greater prosperity for all parties and players that can benefit from the continued development of Fuelcell Energy’s carbon capture technologies, but not if it is not good for common Fuelcell Energy shareholders who now need to be first.