FuelCell Energy Inc (NASDAQ:FCEL) Collaborates With POSCO On New Projects


Dallas, Texas 05/29/2014 (FINANCIALSTRENDS) – FuelCell Energy, Inc. (NASDAQ:FCEL) has now announced some additional steps to accommodate an increasing global demand for the megawatt-class of stationary fuel cell-power plants, ensuring the preeminent customer support across the globe & enhanced execution of the product-cost reductions. FCEL & POSCO Energy are now closely collaborating to support various multi-national customers who have expressed interest in fuel-cell projects in other partner’s territory. They are now further synchronizing an integrated global supply chain, & executing sale of 4 fuel cell modules, which total 5.6 megawatts in order to meet the rising demand in Asia.

Close collaboration

POSCO Energy’s Senior Vice President Jung-Gon Kim said that even closer-collaboration between POSCO Energy & FuelCell Energy ensures that the respective customers now receive enhanced value & security for the investment as they reduce costs & further enhance overall competitiveness of the clean distributed fuel- cell power generation. An increasing interest in the stationary fuel-cell applications in many different geographic regions from the companies with international operations has now led to a broadening of the activities between FCEL & POSCO Energy.

Maintaining equilibrium

This enhanced collaboration now accommodates North American, and European or some other non-Asian customers of FCEL who are interested in a fuel-cell installation in Asia and Asian customers of the POSCO Energy who desire a fuel-cell installation outside Asia. With the growing international adoption of the Direct FuelCell® power plants, that trends to larger-sized and fuel cell parks & cross-territorial interest from its multi-national customers, FuelCell Energy, Inc. (NASDAQ:FCEL) & POSCO Energy can also support their global customers in the other’s local markets to ensure that consistency in communication, quality & execution is maintained.

Construction of POSCO Energy’s cell-manufacturing facility is right on schedule with the production that is expected in the middle of 2015. Once it is operational, the facility wills double global manufacturing-capacity of FCEL’s proprietary power plants.

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