Good morning, ladies and gentlemen. Welcome to the special meeting of stockholders of FuelCell Energy, Inc. My name is Herb England, and I am the Chair of the board of directors of FuelCell Energy. I will also serve as Chair of this meeting. We appreciate your attendance, your interest, and most importantly, your investment in and support of FuelCell Energy. Other members of the board of directors in attendance include Matthew Hilzinger and Jason Few, who is also our President and Chief Executive Officer.
The other officers of FuelCell Energy in attendance today are Mike Bishop, Executive Vice President, Chief Financial Officer and Treasurer, Joshua Dolder, Executive Vice President, General Counsel and Corporate Secretary, and Tom Gelston, Senior Vice President, Finance and Investor Relations. Also attending this meeting are Rob Wilson and Walter Connolly of KPMG LLP, our independent registered public accounting firm. Although KPMG has indicated that it does not wish to make a statement, Mr. Wilson is available to respond to appropriate questions during the general question and answer period.
We are pleased to hold this special meeting virtually to allow for greater participation by our stockholders. Joshua Dolder will serve as secretary of this meeting. Tessa McKinson of Equiniti Trust Company will serve as the inspector of elections for this meeting. Ms. McKinson has filed her oath of office with the secretary of the meeting for inclusion in the minutes of the meeting. We will file this oath with the company's records of the meeting. I now call this meeting to order. This meeting will be conducted in accordance with the rules of conduct and procedures which are available on the virtual meeting site.
Each of you should have registered online in advance using your 16-digit control number included on your Notice of Internet Availability or proxy materials, on your proxy card, or on the instructions that accompanied your proxy materials. If there are any of you who have not registered, please take a moment to register so that your vote will be counted. Questions may be submitted anytime during this meeting via the Ask a Question tool on the virtual meeting site for those attending who are registered stockholders of FuelCell Energy.
We will work to address reasonable questions to the extent that such questions can be addressed without providing material non-public information. Questions will be read without naming the person or institution that submitted the questions unless otherwise instructed as part of the submission.
As Corporate Secretary of the company, I have an affidavit of mailing from Broadridge Financial Solutions certifying as to the giving of notice of this meeting and the mailing of proxies to stockholders of record as of September 10, 2024, the notice of internet availability of proxy materials which Broadridge commenced distributing to stockholders on September 17, 2024. I also note that the list of the holders of record of common stock of the company at the close of business on September 10, 2024, was available for inspection by the company's stockholders prior to the meeting date.
A copy of the list of stockholders will be filed in the records of the company. Mr. Chairman, of the 556,009,549 shares of common stock outstanding and entitled to vote as of September 10, 2024, the record date for this special meeting, at least 258,581,178 shares are represented at this meeting by proxy or in person by virtual presence online. Accordingly, a quorum is present at this meeting. Accordingly, I declare this meeting to be duly convened for the purpose of transacting such business as may properly come before it.
Thank you, Josh. It is approximately 11:00 A.M. Eastern Daylight Time on October 31, 2024, and the polls for voting on both matters are open. All FuelCell Energy stockholders entitled to vote at this meeting have the ability to do so online. If you are a stockholder entitled to vote and have not yet voted, or if you want to change your previously cast vote, please do so via the vote website used to access this meeting. Please remember that if you have already voted by proxy, it is not necessary to vote again. After voting has been completed on both matters on the agenda, we will close the polls, and the inspector of elections will provide the company with her preliminary report.
The proposals before the stockholders of FuelCell Energy at this meeting are: Proposal One, to adopt an amendment to the FuelCell Energy, Inc. Certificate of incorporation as amended to effect a reverse stock split of our issued and outstanding shares of common stock, par value $0.001 per share, and shares of common stock held in treasury at a specific ratio ranging from 1-for-10 to 1-for-30 at any time prior to May 23, 2025, with the exact ratio to be determined by the board of directors without further approval or authorization of our stockholders and Proposal Two, to approve one or more adjournments of this special meeting if necessary to solicit additional proxies if there are not sufficient votes in favor of Proposal One.
We'll now pause briefly to allow voting. The polls are about to close, so if you have not yet voted, please do so. Since everyone has had the opportunity to vote, the polls are now closed. The inspector of elections has delivered her preliminary report to the company, and I will now announce the preliminary results. Based on the inspector of elections' preliminary report, Proposal 1, the proposal to adopt an amendment to the FuelCell Energy, Inc.
Certificate of incorporation as amended to effect a reverse stock split of our issued and outstanding shares of common stock and shares of common stock held in treasury at a specific ratio ranging from 1-for-10 to 1-for-30 at any time prior to May 23, 2025, with the exact ratio to be determined by the board of directors without further approval or authorization of our stockholders has received the affirmative vote of a majority of the votes cast in person or online during the virtual meeting, or by proxy on such proposal at this special meeting.
Two, the proposal to approve one or more adjournments of this special meeting if necessary to solicit additional proxies if there are not sufficient votes in favor of Proposal One has received the affirmative vote of a majority of the votes cast in person or online during the virtual meeting or by proxy on such proposal at this special meeting. Accordingly, I declare that One, the proposal to adopt an amendment to the FuelCell Energy, Inc. Certificate of Incorporation, as amended to effect a reverse stock split of our issued and outstanding shares of common stock and shares of common stock held in treasury at a specific ratio ranging from 1-for-10 to 1-for-30 at any time prior to May 23, 2025, with the exact ratio to be determined by the board of directors without further approval or authorization of our stockholders has been approved.
Two, the proposal to approve one or more adjournments of this special meeting, if necessary, to solicit additional proxies if there are not sufficient votes in favor of Proposal One has been approved. However, because Proposal One has been approved, adjournment of this meeting to solicit additional proxies is not necessary. Mr. Chairman.
Thank you, Josh. This concludes the formal portion of the special meeting. Thank you for attending the company's special meeting, and the special meeting is hereby adjourned. As noted earlier, questions which comport with the rules of conduct for the special meeting may be submitted via the Ask a Question tool on the broadcast for those attending who are registered stockholders of FuelCell Energy. Mr. Gelston, are there any questions?
Thank you, Mr. Chairman. Yes, there's some questions that have been received, and a lot of them happen to be focused around one particular area that I like to put forward for a question, which is about how is the company going about regaining market share, improving sales, attracting new clients, and expanding its customer base?
Tom, thank you. I'll give just a few examples of that. In Korea, we re-entered the Korean market approximately two years ago, and we discussed the fact that there was about 100 megawatts or so of opportunity for us to pursue in terms of repowering in Korea, and we've announced the fact that we closed on NGE, which was 20 megawatts, and we recently announced GGE, which is just shy of 60 megawatts, so we're making great progress in terms of our re-entry into the market in Korea.
Domestically here in the US, we announced the closure of another microgrid opportunity with the Sacramento Sewer project, and that's again taking advantage of our unique capabilities around utilization of biofuels. As we look forward into the market and into our next fiscal year, we see some really interesting opportunities for us as a company and some strong tailwinds in the fact that the grid is short power and the grid is short high-voltage transmission. That creates a great opportunity for distributed technologies like ours.
We see strong momentum happening in data centers and what's happening with AI. We have demonstrated capabilities where we can show large building blocks. For example, just two of the projects I talked about in Korea and showed you. We've got microgrid integration with other gensets. If you look at our deployment at just Bridgeport as an example in Connecticut, where we are integrated with a Rankine cycle engine and we're using the steam there to drive incremental megawatts. Those same type of applications are very applicable to the data center market, and so we're excited about that as an opportunity for us for future growth.
Some of the things that we saw in the market or we thought that would be opportunities around hydrogen or other things we think are going to take a little longer to mature, but we think distributed power generation continues to be a strong market, and we're excited about our ability to participate.
Thank you, Jason. At this time, there are no more questions that comport with the meeting's rules of conduct, so I would like to turn it back to Mr. Chairman.
Thanks, Tom, and thank you for those questions. This concludes the question and answer session for our special meeting. We thank you again for your ownership and trust in FuelCell Energy and for taking the time to join us today. Thank you and have a good day.
This concludes today's presentation. You may now disconnect.