FuelCell Energy has fuel cells in dozens of facilities around the world, claims 300MW worth of installations either realised or on the order books… and now has an extra USD$36m to play with.

The cash, raised by the NASDAQ-quoted company through 8% senior unsecured convertible notes, will be used to increase general liquidity in the company. FuelCell has five years to repay the notes and is currently showing a healthy increase in quarterly revenues, up to a record $42m.

Losses are also down to just over $7.2m in the second quarter of 2013.