Business
FuelCell Energy and CGN Reach 10 MW Repowering Agreement, Signaling Market Momentum
CGN to purchase eight fuel cells and maintenance services from FuelCell EnergyDANBURY, Conn., July 30, 2025 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. (Nasdaq: FCEL) and CGN-Yulchon Generation Co., Ltd. (CGN), a leading Independent Power Producer (IPP) in South Korea, have signed an agreement for the purchase of fuel cells and maintenance services. The agreement with another major generation company underscores FuelCell Energy’s position as a utility-scale electric power producer. Under the terms
About this update from Fuelcell Energy, Inc.
[{"type":"image","alt":"FuelCell Energy, Inc.","displaySize":"","headline":null,"caption":"FuelCell Energy, Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":300,"url":"https://media.zenfs.com/en/globenewswire.com/8f547f49d1077601e56b51a24a3c5cb9"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/cG_vE0bi_N6qhksmWCUxkg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTQyMDtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/8f547f49d1077601e56b51a24a3c5cb9","width":300,"height":300}},"lazy":false},{"type":"text","content":"CGN to purchase eight fuel cells and maintenance services from FuelCell Energy","length":78,"tagName":"p"},{"type":"text","content":"DANBURY, Conn., July 30, 2025 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. (Nasdaq: FCEL) and CGN-Yulchon Generation Co., Ltd. (CGN), a leading Independent Power Producer (IPP) in South Korea, have signed an agreement for the purchase of fuel cells and maintenance services. The agreement with another major generation company underscores FuelCell Energy’s position as a utility-scale electric power producer.","length":406,"tagName":"p"},{"type":"text","content":"Under the terms of the agreement, FuelCell Energy will provide CGN-Yulchon with eight of its advanced carbonate fuel cell modules and comprehensive operations and maintenance services for four fuel cell units at the utility’s Yulchon’s Gwangyang facility. Each fuel cell unit consists of two fuel cell modules. The seven-year agreement includes an option for extension beyond the initial seven-year term.","length":404,"tagName":"p"},{"type":"text","content":"The CGN-Yulchon facility, dedicated primarily to electric power generation, transmission and distribution, operates four of FuelCell Energy’s 3000 Carbonate Fuel Cell Systems, each producing 2.5 megawatts of low carbon baseload power, alongside 1.5GW of conventional gas turbine capacity. The project will enhance the performance and extend the operational life of the four installed units, aligning with CGN’s decarbonization goals and South Korea’s Hydrogen Economy Roadmap.","length":476,"tagName":"p"},{"type":"text","content":"The agreement deepens FuelCell Energy’s strategic footprint in one of Asia’s most advanced fuel cell markets. With the CGN agreement now in backlog—alongside Gyeonggi Green Energy and Noeul Green Energy— FuelCell Energy is demonstrating clear moment...