FuelCell Energy stock soars on Korean data center partnership

Investing.com -- FuelCell Energy (NASDAQ:FCEL) stock surged 12% after announcing a strategic partnership with Korean data center developer Inuverse to explore deploying up to 100 megawatts of fuel cell-based power systems.

The companies signed a Memorandum of Understanding (MOU) to potentially implement FuelCell’s technology at the AI Daegu Data Center (AI DDC), which Inuverse is developing with aspirations for it to become Korea’s largest data center. The proposed fuel cell deployment would be phased in increments starting in 2027.

The partnership aims to leverage FuelCell Energy’s technology to provide clean baseload energy for the data center while utilizing thermal energy from the fuel cells to drive absorption chilling for cooling requirements. This approach is designed to reduce operational costs and improve performance while helping meet energy and climate 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 Energy already operates the largest single-site fuel cell park in Korea, totaling 58MW, which demonstrates the commercial readiness of its technology. The company’s systems are designed for rapid deployment, capable of delivering modular, onsite power that can be scaled as project demand grows.

The non-binding MOU represents a potential expansion of FuelCell’s presence in the growing Asian market, particularly in the high-energy-demand sectors of AI and cloud computing.

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