August 24, 2012

FuelCell nearing 120MW S. Korean deal

Danbury clean energy provider FuelCell Energy, Inc. expected to enter into a 120-megawatt fuel cell order by the end of this year with its partner in South Korea.

FuelCell has been negotiating with POSCO Energy of South Korea to bring more stacks of its fuel cells into the Asian country. Fuel cells create electricity and heat through an electrochemical process producing no greenhouse gas emissions, and South Korea has prioritized the technology in its effort to produce more clean power.

POSCO already has a 70 megawatt order with FuelCell, and the company is delivering 4.2 megawatts of fuel cells monthly until demand is met in April.

The contract under negotiation would bring another 120 megawatts of fuel cells into South Korea. POSCO and FuelCell have a licensing agreement as well.

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