FuelCell Energy finalizes sale of 5.6 MW of hydrogen fuel cell modulesAugust 12, 2015
POSCO Energy to receive fuel cell modules from FuelCell Energy
FuelCell Energy, a leading developer of hydrogen fuel cells, has announced that it has finalized a sale of 5.6 megawatts of fuel cell modules to POSCO Energy, its partner in South Korea. The fuel cells are meant to be produced at a facility in South Korea, which is operated by POSCO Energy. Both companies are working together to expand the local manufacturing of fuel cell components, which will make fuel cell technology less expensive in the country.
Hydrogen fuel continues to gain momentum in South Korea
Hydrogen fuel cells have found significant support in South Korea, where several organizations are working to embrace renewable energy. Fuel cells, in particular, have managed to attract a great deal of favor because of their energy production capabilities and environmentally friendly nature. As South Korea becomes more invested in hydrogen fuel, it is becoming a very attractive market for companies like FuelCell Energy, which are looking to successfully commercialize their innovative energy systems.
POSCO Energy works to make fuel cell technology less expensive
The new POSCO Energy manufacturing facility in South Korea is expected to play a role in accelerating the adoption of hydrogen fuel cells throughout Asia. At the facility, fuel cell components can be produced at relatively low cost, and POSCO Energy has access to a well established global supply chain. FuelCell Energy intends to assist in further reducing the cost of fuel cell technology in order to make these energy systems more attractive to those interested in renewable energy.
Demand for fuel cells is growing quickly in many parts of Asia
The 5.6 megawatt fuel cell component sale will bring additional capacity and help augment existing fuel cell sales that have already been made in South Korea. FuelCell Energy may soon see more attention when it comes to fuel cell sales, as the demand for these energy systems has been growing quickly throughout Asia, particularly in the transportation space where hydrogen fuel cells are being used to power a new generation of vehicles.