FuelCell Energy Inc. (FCE, Danbury, CT), a manufacturer of stationary fuel cell power plants for distributed generation, and its Asia-Pacific strategic partner Marubeni Corp. (Tokyo, Japan) announced that they have signed an agreement with POSCO to enter into a strategic alliance to distribute and package Direct FuelCell® (DFC®) power plants in Korea.
The three companies have further agreed to jointly investigate formation of a joint venture for the research, development and production of DFC products in Korea for sale throughout Asian and eventually global markets. As part of this agreement, POSCO will purchase three 250 kW DFC300A power plants from FuelCell Energy through Marubeni, with the first unit to be sited at the Pohang University of Science and Technology in Pohang City, Korea. Siting announcements for the two additional DFC power plants are expected by the end of calendar year 2004.
