XML 75 R64.htm IDEA: XBRL DOCUMENT v3.20.2
Debt and Financing Obligations - Additional Information (Details)
$ / shares in Units, shares in Millions
1 Months Ended 3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Jun. 08, 2020
USD ($)
Apr. 24, 2020
USD ($)
Feb. 11, 2020
USD ($)
Nov. 22, 2019
USD ($)
$ / shares
MW
shares
May 09, 2019
USD ($)
MW
Feb. 28, 2019
USD ($)
MW
May 31, 2020
USD ($)
Jan. 31, 2019
USD ($)
Position
Employee
Oct. 31, 2015
USD ($)
Position
Jul. 31, 2020
USD ($)
Apr. 30, 2020
USD ($)
Jan. 31, 2020
USD ($)
Jul. 31, 2019
USD ($)
Apr. 30, 2019
USD ($)
Jan. 31, 2019
USD ($)
Apr. 30, 2020
USD ($)
Jul. 31, 2020
USD ($)
MW
Jul. 31, 2019
USD ($)
Oct. 31, 2019
USD ($)
Dec. 31, 2019
USD ($)
May 16, 2019
May 08, 2019
Feb. 06, 2019
USD ($)
Jan. 09, 2019
USD ($)
Debt Instrument [Line Items]                                                
Long-term line of credit, discount                   $ 5,336,000             $ 5,336,000   $ 4,251,000          
Class of warrants or rights issued value                                     $ 3,900,000          
Dividends declared                   800,000 $ 800,000 $ 931,000   $ 800,000 $ 800,000                  
Gain on extinguishment of financing obligation                   1,801,000             1,801,000 $ 0            
Series B Preferred Stock [Member]                                                
Debt Instrument [Line Items]                                                
Dividends declared                   800,000     $ 810,000       2,531,000 $ 2,410,000            
Third Orion Amendment [Member]                                                
Debt Instrument [Line Items]                                                
Taxes and transaction costs     $ 1,000,000.0                                          
Proceeds from sale leaseback transferred to module reserve account     1,100,000                                          
Proceeds from sale leaseback transferred to debt reserve account     100,000                                          
Quarterly cash interest due to the lenders     1,700,000                                          
Long-term restricted cash                   6,500,000             6,500,000              
Third Orion Amendment [Member] | Series B Preferred Stock [Member]                                                
Debt Instrument [Line Items]                                                
Dividends declared     $ 1,100,000                                          
Third Orion Amendment [Member] | Maximum [Member]                                                
Debt Instrument [Line Items]                                                
Allocate of fund to project                               $ 3,500,000                
Fourth Orion Amendment [Member]                                                
Debt Instrument [Line Items]                                                
Release of funds from project proceeds account subject to conditions             $ 3,500,000                   3,500,000              
Project payoff amount                                 5,000,000              
Release of funds from project proceeds account transferred to general business unit account             $ 2,300,000                                  
Release of funds from project proceeds account transferred to covered project account                                 1,200,000              
Self-generation incentive program amount, granted                                 $ 1,000,000.0              
Fourth Orion Amendment [Member] | California [Member]                                                
Debt Instrument [Line Items]                                                
Capacity of plant | MW                                 1.4              
Orion Energy Partners Investment Agent, LLC Credit Facility [Member]                                                
Debt Instrument [Line Items]                                                
Percentage of aggregate principal amount on discount                                     2.50%          
Percentage of cash interest paid                                 9.90%              
Percentage of payment-in-kind interest                                 2.05%              
Class of warrants or rights issued value                                     $ 3,900,000          
Proceeds from long-term lines of credit                                 $ 16,200,000   0          
Orion Energy Partners Investment Agent, LLC Credit Facility [Member] | Groton CT [Member]                                                
Debt Instrument [Line Items]                                                
Disposition,refinancing or tax equity investment consummated                                 30,000,000              
Orion Energy Partners Investment Agent, LLC Credit Facility [Member] | Tulare BioMAT [Member]                                                
Debt Instrument [Line Items]                                                
Disposition,refinancing or tax equity investment consummated                                 $ 5,000,000.0              
Orion Energy Partners Investment Agent, LLC Credit Facility [Member] | Senior Secured Credit Facility [Member]                                                
Debt Instrument [Line Items]                                                
Long-term Line of Credit                                     200,000,000.0          
Orion Energy Partners Investment Agent, LLC Credit Facility [Member] | Initial Funding [Member]                                                
Debt Instrument [Line Items]                                                
Drew down to fully repay debt outstanding                                     14,500,000          
Long-term line of credit after discount                                     14,100,000          
Long-term line of credit, discount                                     400,000          
Debt instrument term                                 7 years              
Quarterly payment payable period                                 1 year              
Quarterly payment payable date                                 Oct. 31, 2027              
Debt instrument, description                                 Outstanding principal under the Orion Facility will be amortized on a straight-line basis over a seven year term in quarterly payments beginning one year after the Initial Funding, with the initial payment due 21 business days after the end of the first quarter of fiscal 2021; provided that, if the Company does not have sufficient cash on hand to make any required quarterly amortization payments, such amounts shall be deferred and payable at such time as sufficient cash is available to make such payments subject to all outstanding principal being due and payable on the maturity date, which is the date that is eight years after the date of the Initial Funding or October 31, 2027.              
Orion Energy Partners Investment Agent, LLC Credit Facility [Member] | Second Funding [Member]                                                
Debt Instrument [Line Items]                                                
Drew down to fully repay debt outstanding       $ 65,500,000                                        
Long-term line of credit after discount       63,900,000                                        
Long-term line of credit, discount       $ 1,600,000                                        
Credit agreement requires to establish debt reserve                   5,000,000.0             $ 5,000,000.0              
Orion Energy Partners Investment Agent, LLC Credit Facility [Member] | Second Funding [Member] | Exercise Price 0.242 [Member]                                                
Debt Instrument [Line Items]                                                
Class of warrants or rights exercised | shares       8.0                                        
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares       $ 0.242                                        
Orion Energy Partners Investment Agent, LLC Credit Facility [Member] | Second Funding [Member] | Exercise Price 0.620 [Member]                                                
Debt Instrument [Line Items]                                                
Class of warrants or rights exercised | shares       6.0                                        
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares       $ 0.620                                        
Orion Energy Partners Investment Agent, LLC Credit Facility [Member] | Second Funding [Member] | Maximum [Member]                                                
Debt Instrument [Line Items]                                                
Class of warrants or rights issued | shares       14.0                                        
Orion Energy Partners Investment Agent, LLC Credit Facility [Member] | Second Funding [Member] | Groton Project [Member]                                                
Debt Instrument [Line Items]                                                
Capacity of plant | MW       7.4                                        
Orion Energy Partners Investment Agent, LLC Credit Facility [Member] | Second Funding [Member] | LIPA Yaphank Solid Waste Management Project [Member]                                                
Debt Instrument [Line Items]                                                
Capacity of plant | MW       7.4                                        
Orion Energy Partners Investment Agent, LLC Credit Facility [Member] | Second Funding [Member] | Tulare BioMAT [Member]                                                
Debt Instrument [Line Items]                                                
Capacity of plant | MW       2.8                                        
Orion Energy Partners Investment Agent, LLC Credit Facility [Member] | Remainder of Funding [Member]                                                
Debt Instrument [Line Items]                                                
Line of credit receivable amount                                     120,000,000.0          
Orion Energy Partners Investment Agent, LLC Credit Facility [Member] | Remainder of Funding [Member] | Maximum [Member]                                                
Debt Instrument [Line Items]                                                
Line of credit receivable amount                   120,000,000.0             $ 120,000,000.0              
Orion Energy Partners Investment Agent, LLC Credit Facility [Member] | Fifth Orion Amendment [Member]                                                
Debt Instrument [Line Items]                                                
Line of credit facility, maximum borrowing capacity $ 35,000,000                                              
Orion Credit Agreement [Member] | Fifth Orion Amendment [Member]                                                
Debt Instrument [Line Items]                                                
Percentage of cash interest paid 9.90%                                              
Percentage of payment-in-kind interest 2.05%                                              
Quarterly payment payable date Sep. 01, 2021                                              
Line of credit facility, maximum borrowing capacity $ 35,000,000                                              
Line of credit facility, commencement date Jun. 05, 2020                                              
Line of credit facility, description                                 The Secondary Facility Loan commitment allows the Company to draw on the Secondary Facility Loans commencing on June 5, 2020 (the “Commencement Date”) and terminating on September 14, 2020 (the “Termination Date”). The Company may make draws on the Secondary Facility Loans in amounts of no less than $5 million, and no more than $15 million may be drawn in any 30-day period, provided that the Company may draw any remaining available funds under the Secondary Facility Loans between August 15, 2020 and the Termination Date. Any drawn amounts must be fully repaid on or before September 1, 2021 (the “Secondary Facility Repayment Date”).              
Agreed to pay option premium in exchange for loan commitment $ 1,000,000                                              
Percentage of discount for each draw 5.00%                                              
Percentage of discount for each draw if not paid with in six months 10.00%                                              
Percentage of discount for each draw if not paid with in nine months 20.00%                                              
Line of credit facility, frequency of payments quarterly                                              
Percentage of prepayment of credit facility upon issuance of debt 100.00%                                              
Percentage of prepayment of credit facility upon issuance of equity 50.00%                                              
Orion Credit Agreement [Member] | Fifth Orion Amendment [Member] | Maximum [Member]                                                
Debt Instrument [Line Items]                                                
Amount may draws on the secondary facility loan $ 15,000,000                                              
Orion Credit Agreement [Member] | Fifth Orion Amendment [Member] | Minimum [Member]                                                
Debt Instrument [Line Items]                                                
Amount may draws on the secondary facility loan $ 5,000,000                                              
Connecticut Green Bank Loans [Member]                                                
Debt Instrument [Line Items]                                                
Long-term Line of Credit                   4,800,000             $ 4,800,000              
Line of credit facility, maximum borrowing capacity                                     1,800,000 $ 3,000,000.0        
Accrued fees payable         $ 400,000                                      
Debt instrument, interest rate, stated percentage rate                                           5.00%    
Debt instrument, interest rate, increase                                 8.00%              
Connecticut Green Bank Loans [Member] | Groton Commitment Letter [Member]                                                
Debt Instrument [Line Items]                                                
Subordinated project term loan                                             $ 5,000,000.0  
Subordinated Credit Agreement [Member] | Bridgeport Fuel Cell, LLC [Member] | Connecticut Green Bank Loans [Member]                                                
Debt Instrument [Line Items]                                                
Long-term Line of Credit                   5,200,000             $ 5,200,000              
Capacity of plant | MW         14.9                                      
Debt instrument, interest rate, stated percentage rate         8.00%                                      
Proceeds from long-term lines of credit         $ 6,000,000.0                                      
Debt instrument, covenant terms                                 On May 9, 2019, in connection with the closing of the purchase of the membership interests of Bridgeport Fuel Cell, LLC (“BFC”) (and the 14.9 MW Bridgeport Fuel Cell Project), BFC entered into a subordinated credit agreement with the Connecticut Green Bank whereby Connecticut Green Bank provided financing in the amount of $6.0 million (the “Subordinated Credit Agreement”). This $6.0 million consisted of $1.8 million in incremental funding that was received by BFC and $4.2 million of funding previously received by FuelCell Energy, Inc. with respect to which BFC became the primary obligor. As security for the Subordinated Credit Agreement, Connecticut Green Bank received a perfected lien, subordinated and second in priority to the liens securing the $25.0 million loaned under the BFC Credit Agreement (as defined below), in all of the same collateral securing the BFC Credit Agreement. The interest rate under the Subordinated Credit Agreement is 8% per annum. Principal and interest are due monthly in amounts sufficient to fully amortize the loan over an 84-month period ending in May 2026. The Subordinated Credit Agreement contains representations, warranties and covenants. The balance under the Subordinated Credit Agreement as of July 31, 2020 was $5.2 million.              
Subordinated Credit Agreement [Member] | Incremental Funding [Member] | Bridgeport Fuel Cell, LLC [Member] | Connecticut Green Bank Loans [Member]                                                
Debt Instrument [Line Items]                                                
Proceeds from long-term lines of credit         1,800,000                                      
Subordinated Credit Agreement [Member] | Senior Term Loan [Member] | Bridgeport Fuel Cell, LLC [Member] | Connecticut Green Bank Loans [Member]                                                
Debt Instrument [Line Items]                                                
Liens securing senior term loan amount         25,000,000.0                                      
Subordinated Credit Agreement [Member] | Previously Received [Member] | Bridgeport Fuel Cell, LLC [Member] | Connecticut Green Bank Loans [Member]                                                
Debt Instrument [Line Items]                                                
Proceeds from long-term lines of credit         $ 4,200,000                                      
Credit Agreement [Member] | Bridgeport Loans [Member]                                                
Debt Instrument [Line Items]                                                
Maturity date         May 09, 2025                                      
Interest rate description                                 The interest rate under the BFC Credit Agreement fluctuates monthly at the 30-day LIBOR rate plus 275 basis points              
Debt instrument, interest rate basis term         30 days                                      
Credit Agreement [Member] | Bridgeport Loans [Member] | Interest Rate Swap                                                
Debt Instrument [Line Items]                                                
Net interest rate                                         5.09%      
Credit Agreement [Member] | Bridgeport Loans [Member] | Level Adjustments [Member] | Interest Rate Swap                                                
Debt Instrument [Line Items]                                                
Fair value adjustments, charge                   40,000.00             $ 500,000              
Fair value interest rate                   1,100,000             1,100,000   600,000          
Credit Agreement [Member] | Bridgeport Fuel Cell, LLC [Member]                                                
Debt Instrument [Line Items]                                                
Debt instrument, total notional value         $ 25,000,000.0                                      
Credit Agreement [Member] | Bridgeport Fuel Cell, LLC [Member] | Bridgeport Loans [Member] | Fifth Third Bank [Member]                                                
Debt Instrument [Line Items]                                                
Proceeds from long-term lines of credit         12,500,000                                      
Credit Agreement [Member] | Bridgeport Fuel Cell, LLC [Member] | Bridgeport Loans [Member] | Liberty Bank [Member]                                                
Debt Instrument [Line Items]                                                
Proceeds from long-term lines of credit         $ 12,500,000                                      
Finance Obligations for Sale Leaseback Agreements [Member]                                                
Debt Instrument [Line Items]                                                
Gain on extinguishment of financing obligation                   1,800,000                            
Finance Obligations for Sale Leaseback Agreements [Member] | PNC Energy Capital, LLC [Member]                                                
Debt Instrument [Line Items]                                                
Long-term Line of Credit                   49,300,000             49,300,000   45,200,000          
State of Connecticut [Member]                                                
Debt Instrument [Line Items]                                                
Long-term Line of Credit                   9,660,000             $ 9,660,000   10,000,000          
Debt instrument term                 15 years                              
Debt instrument, interest rate, stated percentage rate                 2.00%                              
Debt instrument, total notional value                 $ 10,000,000.0   $ 10,000,000.0         $ 10,000,000.0                
Debt instrument, payment terms, period principal payments are deferred                 4 years                              
Debt instrument, date of first required payment                 Dec. 01, 2019                              
Loan forgiveness terms                                 if the Company created 165 full-time positions and retained 538 full-time positions for two consecutive years (the “Employment Obligation”) as measured on October 28, 2017 (the “Target Date”). The Assistance Agreement was subsequently amended in April 2017 to extend the Target Date by two years to October 28, 2019              
Debt instrument period for deferment of principal and interest payments                                 3 months              
Debt instrument, payment terms                                 In April of 2020, as a result of the COVID-19 pandemic, the State of Connecticut agreed to defer three months of principal and interest payments under the Assistance Agreement, beginning with the May 2020 payment. These deferred payments will be added at the end of the loan, thus extending out the maturity date by three months              
State of Connecticut [Member] | Employment Obligation [Member]                                                
Debt Instrument [Line Items]                                                
Number of full time positions required to be created | Position                 165                              
Number of full time positions required to be retained | Position                 538                              
State of Connecticut [Member] | Maximum [Member]                                                
Debt Instrument [Line Items]                                                
Percentage of loan forgiveness                                 5.00%              
State of Connecticut [Member] | Second Amendment [Member] | Employment Obligation [Member]                                                
Debt Instrument [Line Items]                                                
Number of minimum full time positions required to be maintained | Employee               538                                
Number of consecutive months maintain the full time positions               24 months                                
Additional number of full time positions required to be create | Position               91                                
Additional credits to be earned               $ 2,000,000.0             2,000,000.0                  
Target date of job audit               90 days                                
Principal payable number of employee under employee obligation target               $ 18,587.36             $ 18,587.36                  
Webster Bank Term Loan [Member]                                                
Debt Instrument [Line Items]                                                
Notes payable to bank, current                                     500,000          
Enhanced Capital Term Loan and Security Agreement [Member]                                                
Debt Instrument [Line Items]                                                
Long-term Line of Credit                                     1,500,000          
Line of credit facility, maximum borrowing capacity                                               $ 1,500,000
New Construction Loan Facility [Member] | Fifth Third Bank Groton Loan [Member]                                                
Debt Instrument [Line Items]                                                
Total outstanding balance                                     $ 11,100,000          
New Construction Loan Facility [Member] | Fifth Third Bank Groton Loan [Member]                                                
Debt Instrument [Line Items]                                                
Line of credit facility, maximum borrowing capacity           $ 23,000,000.0                                    
New Construction Loan Facility [Member] | Groton CT [Member] | Fifth Third Bank Groton Loan [Member]                                                
Debt Instrument [Line Items]                                                
Capacity of plant | MW           7.4                                    
Liberty Bank Promissory Note (PPP Note) [Member]                                                
Debt Instrument [Line Items]                                                
Long-term Line of Credit                   $ 6,515,000             $ 6,515,000              
Liberty Bank Promissory Note (PPP Note) [Member] | Liberty Bank [Member]                                                
Debt Instrument [Line Items]                                                
Loan forgiveness terms                                 In order to obtain the consent of the Agent and the Orion Lenders under the Orion Facility to enter into the PPP Note, the Agent and the Orion Lenders have required the Company to apply for forgiveness within 30 days after the last day of the loan forgiveness period as designated under the PPP regulations in effect as of June 6, 2020.              
Liberty Bank Promissory Note (PPP Note) [Member] | Liberty Bank [Member] | CARES Act [Member]                                                
Debt Instrument [Line Items]                                                
Proceeds from long-term lines of credit   $ 6,500,000                                            
Maturity date                                 Apr. 16, 2022              
Debt instrument, interest rate, stated percentage rate range                                 1.00%              
Debt instrument, collateral or guarantees                                 The Company did not provide any collateral or guarantees for the PPP Note, nor did the Company pay any facility charge to obtain the PPP Note              
Prepayment penalties                                 $ 0              
Proceeds used for payroll costs on an annualized basis for each employee                                 $ 100,000              
Liberty Bank Promissory Note (PPP Note) [Member] | Minimum [Member] | Liberty Bank [Member] | CARES Act [Member]                                                
Debt Instrument [Line Items]                                                
Percentage of proceeds used for payroll costs                                 60.00%              
PNC and Crestmark [Member]                                                
Debt Instrument [Line Items]                                                
Debt instrument term                                 10 years              
Bridgeport Fuel Cell, LLC [Member]                                                
Debt Instrument [Line Items]                                                
Debt instrument term                                 8 years              
Orion Credit Facility [Member]                                                
Debt Instrument [Line Items]                                                
Debt instrument term                                 8 years