Shares of FuelCell Energy (NASDAQ:FCEL) jumped 12% following the announcement of a strategic collaboration with South Korean data center firm Inuverse to evaluate the use of up to 100 megawatts of fuel cell power systems.
The two companies signed a Memorandum of Understanding (MOU) that could lead to the phased rollout of FuelCell’s technology at the planned AI Daegu Data Center (AI DDC), which Inuverse aims to position as the largest data center in South Korea. The initial deployment is targeted to begin in 2027, with scalability to meet future demand.
The partnership envisions using FuelCell’s systems to provide clean, baseload electricity, while also repurposing thermal byproducts from the fuel cells to power absorption chillers for cooling. This dual-function design is expected to lower operating costs, improve energy efficiency, and align with sustainability goals.
“Our clean, reliable, and scalable platform is purpose-built for the data center market,” said Mike Hill, Executive Vice President and Chief Commercial Officer of FuelCell Energy. “With proven scaled energy platforms already operating in Korea, and integrated thermal capabilities that align seamlessly with Inuverse’s cooling needs, we’re proud our technology could be used to support this transformative infrastructure project.”
FuelCell currently operates South Korea’s largest fuel cell park, a 58 MW installation, underscoring its capabilities and readiness for similar scale deployments. Its modular, on-site systems offer flexible power solutions that can evolve alongside project needs.
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