X0202 SCHEDULE 13G 0001075186 XXXXXXXX LIVE Common stock, par value $0.0001 per share 06/18/2026 0000886128 FUELCELL ENERGY INC 35952H700 3 Great Pasture Road Danbury CT 06810 Rule 13d-1(c) Alex Meruelo X1 0.00 3710500.00 0.00 3710500.00 3710500.00 N 4.6 IN (1) The amounts in Rows 6, 8 and 9 consist of (i) 3,600,000 shares of Common Stock held directly by the Trust, (ii) 75,000 shares of Common Stock underlying long call options held by the Trust, expiring August 21, 2026, and exercisable within 60 days of the date hereof, and (iii) 35,500 shares of Common Stock held by Liset Meruelo. Mr. Meruelo is the sole trustee of the Trust. Mr. Meruelo disclaims beneficial ownership of the shares held by Liset Meruelo except to the extent of any voting power or investment power he may have or share. (2) The percentage in Row 11 is calculated as described in Item 4. Alex Meruelo Living Trust CA 0.00 3675000.00 0.00 3675000.00 3675000.00 N 4.6 OO (1) The amounts in Rows 6, 8 and 9 consist of (i) 3,600,000 shares of Common Stock held directly by the Trust, and (ii) 75,000 shares of Common Stock underlying long call options held by the Trust, expiring August 21, 2026, and exercisable within 60 days of the date hereof. (2) The percentage in Row 11 is calculated as described in Item 4. FUELCELL ENERGY INC 3 Great Pasture Road, Danbury, Connecticut 06810 This statement is filed jointly by Alex Meruelo ("Mr. Meruelo") and the Alex Meruelo Living Trust (the "Trust" and, together with Mr. Meruelo, the "Reporting Persons"). Mr. Meruelo is the sole trustee of the Trust, a revocable trust. The Reporting Persons have entered into a Joint Filing Agreement, dated as of July 13, 2026, a copy of which is filed as Exhibit 99.1 hereto. The address of the principal business office of each Reporting Person is 2500 E. Second Street, Reno, Nevada 89595, Attention: Management Office. Mr. Meruelo is a citizen of the United States of America. The Trust is a California trust. Y Alex Meruelo: 3,710,500 Trust: 3,675,000 Alex Meruelo: 4.6% Trust: 4.6% Alex Meruelo: 0; Trust: 0 Alex Meruelo: 3,710,500; Trust: 3,675,000 Alex Meruelo: 0; Trust: 0 Alex Meruelo: 3,710,500; Trust: 3,675,000 The percentage ownership set forth in this Schedule 13G is calculated based upon 79,929,602 shares of Common Stock outstanding immediately after the Issuer's underwritten public offering that closed on July 9, 2026 (after giving effect to the full exercise of the underwriters' option to purchase additional shares as disclosed by the Issuer on July 9, 2026), as reported in the Issuer's final prospectus supplement dated July 7, 2026, filed with the Securities and Exchange Commission (the "SEC") on July 8, 2026 pursuant to Rule 424(b)(5). This Schedule 13G is being filed because, as of June 18, 2026, based on 67,608,173 shares of Common Stock outstanding as of June 4, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended April 30, 2026, filed with the SEC on June 8, 2026, and with 150,000 shares of Common Stock underlying call options then held by the Trust included in the aggregate amount beneficially owned by each Reporting Person, each Reporting Person may have been deemed to beneficially own more than five percent of the Common Stock. On July 6, 2026, the Trust sold 750 call options expiring August 21, 2026, representing 75,000 shares of Common Stock. As of the date hereof, each Reporting Person has ceased to be the beneficial owner of more than five percent of the Common Stock. As of the date hereof, the Trust may be deemed to beneficially own 3,675,000 shares of Common Stock. This amount consists of (i) 3,600,000 shares of Common Stock held directly by the Trust, and (ii) 75,000 shares of Common Stock underlying long call options held by the Trust, expiring August 21, 2026, and exercisable within 60 days of the date hereof. Because Mr. Meruelo is the sole trustee of the Trust, and to the extent he may be deemed to have or share voting power or investment power with respect to the shares held by his spouse described below, Mr. Meruelo may be deemed to beneficially own 3,710,500 shares of Common Stock. This amount consists of (i) the 3,675,000 shares of Common Stock beneficially owned by the Trust, and (ii) 35,500 shares of Common Stock held by Liset Meruelo, the spouse of Mr. Meruelo. Mr. Meruelo disclaims beneficial ownership of the shares held by Liset Meruelo, except to the extent Mr. Meruelo actually has or shares voting power or investment power with respect to such shares, and the reporting thereof shall not be construed as an admission that Mr. Meruelo is a beneficial owner of such shares. N Y Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11. Exhibit 99.1 - JOINT FILING AGREEMENT Alex Meruelo /s/ Alex Meruelo 07/13/2026 Alex Meruelo Living Trust /s/ Alex Meruelo 07/13/2026