Hydrogen fuel makes progress in Asian marketOctober 29, 2013
Companies work together to promote hydrogen fuel cells throughout Asia
FuelCell Energy, a leading developer of hydrogen fuel cells, has announced a series of updates concerning its operations with its South Korean Partner, POSCO Energy. The two companies have been working to bolster the interest in hydrogen fuel cells throughout the Asian market. Fuel cells have been growing more popular in countries like China and Japan, where telecommunications companies are using these energy systems to power their expansion initiatives and provide back-up energy for network antennas located in remote regions.
New fuel cell manufacturing facility being built in South Korea
PSOCO Energy has begun construction on a new fuel cell manufacturing facility that will be based in South Korea. The company is licensed to develop Direct FuelCell systems from FuelCell Energy. From this new manufacturing facility, FuelCell Energy expects its energy systems to reach the breadth of the Asian market. The facility is expected to begin producing fuel cells beginning in 2015 and will produce a maximum capacity of 100 megawatts worth of fuel cells every year.
Cost of fuel cells begins to fall
Hydrogen fuel cells have begun gaining significant momentum in South Korea, especially as the cost of these energy systems begins to fall. Most fuel cells are quite expensive because of their use of platinum. The costs associated with these energy systems have prohibited several businesses from making use of them. While the energy systems from FuelCell Energy do use platinum, the company has managed to design its fuel cells to be more efficient and make use of less platinum than their more conventional counterparts.
High production helps cut costs
FuelCell Energy expects the cost of hydrogen fuel cells to drop further due to increased production volume. Higher production is often linked to a drop in price for certain products. This trend has been seen in various industries around the world and could help make hydrogen fuel cells more attractive to those that are interested in adopting renewable energy.