Firepoint Energy changes OTC ticker to FPTE ahead of planned reverse merger

Firepoint Energy Inc. said its common stock ticker has officially changed to FPTE on OTC Markets as the public company moves toward a proposed reverse merger with a privately held operations company also called Firepoint Energy. Shareholders do not need to take action, and the merger is still subject to closing conditions with no guarantee it will be completed.

Why it matters: - The ticker change ties the public company’s market identity more closely to the Firepoint Energy name as the company works toward a proposed reverse merger. - The deal could bring the private company’s planned waste-coal recovery, critical minerals and synthetic fuel operations into the public company if it closes. - Existing shares will automatically reflect the new ticker symbol in brokerage accounts.

What happened: - Firepoint Energy Inc. said its common stock ticker symbol changed to FPTE on OTC Markets on July 22, 2026. - The public company was formerly XcelPlus International Inc. - The ticker change is connected to a proposed reverse merger between the public company and a privately held operations company also known as Firepoint Energy. - The company said shareholders do not need to take any action.

The details: - The proposed merger remains subject to customary closing conditions. - The company said there is no assurance the merger will be completed. - The private Firepoint Energy focuses on plasma gasification technology to process waste coal piles, especially in Pennsylvania. - The process is intended to identify rare earth elements while converting remaining energy value into synthetic fuels or power. - The technology is being positioned for high-demand uses such as AI data centers, defense and high-tech industries, and sustainable aviation fuel production. - The company said those capabilities are under development and have not been demonstrated at commercial scale. - The public company does not currently conduct those operations. - Those operations belong to the private company and would become part of the public company only if the reverse merger closes. - Firepoint Energy said the name alignment with the ticker supports the merger process.

Between the lines: - The reverse merger would effectively shift the public company’s business story from a shell-like listed entity to an operating company centered on energy recovery and critical minerals. - The mention by President Trump at the Pennsylvania Defense and Innovation Summit in Carlisle added visibility to the private company’s name. - The announcement is more about corporate positioning than an immediate operating change.

What's next: - Firepoint Energy will work through the remaining closing conditions for the proposed reverse merger. - If the deal closes, the public company would absorb the private company’s planned operations. - Investors can sign up for updates at the company’s announcement.

The bottom line: - FPTE is now the public ticker, but the bigger story is whether Firepoint Energy can close the reverse merger and turn its development-stage technology into a public operating business.