May 2, 2012 | last updated June 1, 2012 2:16 pm

Korean partner pumps $30M into Danbury's FuelCell

FuelCell Energy Inc. has gotten another $30 million from its South Korean alternative-energy partner to sustain the Danbury firm's growth and operations.

Posco Power bought 20 million FuelCell shares at $1.50 apiece, raising its equity stake to about 16.6 percent, FuelCell said Wednesday.

In March, FuelCell netted $32.1 million from its public sale of 23 million shares.

As part of the investment, FuelCell pledged to solidify by fall its commitment with Posco for 120 megawatts of its energy-cells and to share some of its technology with its Korean partner.

FuelCell makes and markets systems that use chemical agents to generate heat and electricity.


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