FuelCell Energy and Inuverse Sign MOU for Data Center Development in Korea, Signaling Growth in Hyperscale and AI Markets
FuelCell Energy (Nasdaq: FCEL) has signed a strategic Memorandum of Understanding (MOU) with Inuverse to explore deploying up to 100 megawatts (MW) of fuel cell-based power at Korea's AI Daegu Data Center (AI DDC). The phased deployment is set to begin in 2027.
The project aims to leverage FuelCell's thermal energy capabilities for advanced rack cooling and absorption chilling at the data center. The company's technology offers clean baseload energy in a microgrid configuration, with modular systems designed for rapid deployment to support AI and cloud computing needs.
FuelCell Energy currently operates Korea's largest single-site fuel cell park at 58MW, demonstrating its established presence in the region. The non-binding MOU represents a strategic move into the growing AI-specialized hyperscale data center market while supporting renewable energy and ESG objectives.
FuelCell Energy (Nasdaq: FCEL) ha firmato un Memorandum of Understanding (MOU) strategico con Inuverse per esplorare l'installazione di fino a 100 megawatt (MW) di energia basata su celle a combustibile presso il Data Center AI Daegu (AI DDC) in Corea. Il dispiegamento avverr脿 per fasi a partire dal 2027.
Il progetto mira a sfruttare le capacit脿 di energia termica di FuelCell per il raffreddamento avanzato dei rack e il raffreddamento ad assorbimento nel data center. La tecnologia dell'azienda offre energia continua e pulita in configurazione microgrid, con sistemi modulari progettati per un rapido dispiegamento a supporto delle esigenze di AI e cloud computing.
FuelCell Energy gestisce attualmente il pi霉 grande parco di celle a combustibile a sito singolo in Corea, con una capacit脿 di 58MW, dimostrando la sua presenza consolidata nella regione. Il MOU non vincolante rappresenta un passo strategico nel mercato in crescita dei data center hyperscale specializzati in AI, sostenendo al contempo gli obiettivi di energia rinnovabile e ESG.
FuelCell Energy (Nasdaq: FCEL) ha firmado un Memorando de Entendimiento (MOU) estrat茅gico con Inuverse para explorar el despliegue de hasta 100 megavatios (MW) de energ铆a basada en celdas de combustible en el Centro de Datos AI Daegu (AI DDC) en Corea. El despliegue por fases comenzar谩 en 2027.
El proyecto busca aprovechar las capacidades de energ铆a t茅rmica de FuelCell para la refrigeraci贸n avanzada de racks y enfriamiento por absorci贸n en el centro de datos. La tecnolog铆a de la empresa ofrece energ铆a limpia y continua en una configuraci贸n de microrred, con sistemas modulares dise帽ados para un despliegue r谩pido que apoye las necesidades de IA y computaci贸n en la nube.
FuelCell Energy opera actualmente el parque de celdas de combustible de un solo sitio m谩s grande de Corea, con 58MW, demostrando su presencia consolidada en la regi贸n. El MOU no vinculante representa un movimiento estrat茅gico hacia el creciente mercado de centros de datos hyperscale especializados en IA, apoyando al mismo tiempo los objetivos de energ铆a renovable y ESG.
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FuelCell Energy (Nasdaq : FCEL) a sign茅 un protocole d'accord strat茅gique (MOU) avec Inuverse pour explorer le d茅ploiement de jusqu'脿 100 m茅gawatts (MW) d'茅nergie 脿 base de piles 脿 combustible au centre de donn茅es AI Daegu (AI DDC) en Cor茅e. Le d茅ploiement par phases devrait d茅buter en 2027.
Le projet vise 脿 exploiter les capacit茅s d'茅nergie thermique de FuelCell pour un refroidissement avanc茅 des racks et un refroidissement par absorption au centre de donn茅es. La technologie de l'entreprise offre une 茅nergie de base propre dans une configuration de micro-r茅seau, avec des syst猫mes modulaires con莽us pour un d茅ploiement rapide afin de soutenir les besoins en IA et en informatique en nuage.
FuelCell Energy exploite actuellement le plus grand parc de piles 脿 combustible sur site unique en Cor茅e, avec une capacit茅 de 58MW, d茅montrant ainsi sa pr茅sence 茅tablie dans la r茅gion. Ce protocole d'accord non contraignant repr茅sente une d茅marche strat茅gique vers le march茅 en croissance des centres de donn茅es hyperscale sp茅cialis茅s en IA, tout en soutenant les objectifs d'茅nergie renouvelable et ESG.
FuelCell Energy (Nasdaq: FCEL) hat eine strategische Absichtserkl盲rung (MOU) mit Inuverse unterzeichnet, um den Einsatz von bis zu 100 Megawatt (MW) Brennstoffzellen-basiertem Strom im AI Daegu Data Center (AI DDC) in Korea zu pr眉fen. Die schrittweise Umsetzung soll im Jahr 2027 beginnen.
Das Projekt zielt darauf ab, die thermischen Energief盲higkeiten von FuelCell f眉r fortschrittliche Rack-K眉hlung und Absorptionsk眉hlung im Rechenzentrum zu nutzen. Die Technologie des Unternehmens bietet saubere Grundlastenergie in einer Mikronetz-Konfiguration mit modularen Systemen, die f眉r eine schnelle Bereitstellung konzipiert sind, um die Anforderungen von KI und Cloud-Computing zu unterst眉tzen.
FuelCell Energy betreibt derzeit den gr枚脽ten Brennstoffzellenpark an einem Standort in Korea mit 58MW und zeigt damit seine etablierte Pr盲senz in der Region. Das unverbindliche MOU stellt einen strategischen Schritt in den wachsenden Markt f眉r AI-spezialisierte Hyperscale-Rechenzentren dar und unterst眉tzt gleichzeitig erneuerbare Energien und ESG-Ziele.
- Potential deployment of up to 100MW fuel cell-based power system
- Strategic entry into growing AI data center market
- Proven track record with 58MW operation in Korea
- Thermal energy capabilities can reduce cooling costs and improve efficiency
- Modular design allows for rapid, scalable deployment
- MOU is non-binding with no guaranteed commitments
- Project deployment not starting until 2027
- Significant capital investment likely required for implementation
Insights
FuelCell Energy's 100MW Korean data center MOU represents strategic positioning in high-growth AI infrastructure market with thermal efficiency advantages.
FuelCell Energy's non-binding MOU with Inuverse marks a significant strategic positioning in the rapidly expanding AI data center market. The potential 100MW deployment would substantially expand FCEL's Korean footprint beyond their current 58MW single-site operation, representing meaningful future revenue opportunity. What makes this partnership technically compelling is the thermal integration advantage - using waste heat from fuel cells to power absorption chilling systems that cool data centers, creating a dual-value proposition that addresses both power generation and cooling requirements.
The AI Daegu Data Center's phased implementation beginning in 2027 indicates this isn't an immediate revenue driver but rather positions FCEL for the long-term growth trajectory of AI infrastructure. FCEL's modular approach offers crucial flexibility for the uncertain capacity scaling needs typical of hyperscale facilities. The company's existing Korean operations provide critical proof-of-concept for reliability in this market.
From a sustainability perspective, the fuel cell technology could help Inuverse meet ESG objectives through baseload power with lower emissions than traditional grid energy, though not completely carbon-free depending on fuel source. The microgrid capabilities mentioned address the critical need for uninterrupted power that AI workloads demand, potentially providing competitive advantage over intermittent renewable alternatives in this application.
Integrated fuel cell thermal capabilities can reduce cooling costs and boost energy efficiency
DANBURY, Conn. and SEOUL, South Korea, July 10, 2025 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. (Nasdaq: FCEL) and Inuverse, a developer of next-generation AI-specialized hyperscale data centers, have announced a strategic Memorandum of Understanding (MOU) to explore opportunities to deploy up to 100 megawatts (MW) of fuel cell-based power in phased increments starting in 2027 at the AI Daegu Data Center (AI DDC), which Inuverse is in the process of developing, aspiring for it to become Korea鈥檚 largest data center.
Once developed, AI DDC is expected to feature advanced rack cooling, hot zone optimization, absorption chilling enabled by the thermal energy from FuelCell Energy鈥檚 platform, and a clean waste model that reduces operational costs and improves performance. FuelCell Energy has demonstrated its ability to utilize the thermal energy from the company鈥檚 fuel cells to drive absorption chilling at other locations and anticipate it will serve data center requirements for space cooling.
FuelCell Energy builds and delivers firm, clean, energy through high-efficiency fuel cell platforms, which can help data centers meet today鈥檚 energy and climate goals without disruption, downtime in a microgrid configuration, or changing how data centers operate. We believe our clean baseload energy technology would allow the project to redefine what is possible for sustainable digital transformation.
Rapid Deployment
FuelCell Energy鈥檚 systems are designed for rapid deployment鈥攃apable of delivering modular, phased, onsite power in months rather than years鈥攚hich can be scaled as project demand grows. This flexibility is critical in supporting the significant energy needs of AI and cloud computing.
FuelCell Energy already operates the largest single-site fuel cell park in Korea, totaling 58MW, which demonstrates the commercial readiness and reliability of its technology. The collaboration with Inuverse is expected to expand the company鈥檚 footprint in Asia and showcase the company鈥檚 ability to enable the decarbonization and near elimination of particulate emissions in the digital economy through distributed clean energy.
鈥淥ur clean, reliable, and scalable platform is purpose-built for the data center market,鈥� said Mike Hill, Executive Vice President and Chief Commercial Officer of FuelCell Energy. 鈥淲ith proven scaled energy platforms already operating in Korea, and integrated thermal capabilities that align seamlessly with Inuverse鈥檚 cooling needs, we鈥檙e proud our technology could be used to support this transformative infrastructure project. Together, we鈥檙e enabling a digital ecosystem that is expected to drive innovation and regional growth in Korea.鈥�
Hill added, 鈥淲e believe the execution of this non-binding MOU is a strong endorsement of our technology鈥檚 ability to meet the evolving demands of data centers and underscores our commitment to the Korean market.鈥�
David Kim, Executive Vice President and Chief Business Development Officer of Inuverse, said, 鈥淭his collaboration is pivotal for Inuverse to address the surging data processing demands of the AI era while proactively achieving our renewable energy and ESG objectives. We believe this project will set global ESG standards for data centers.鈥�
About FuelCell Energy
FuelCell Energy, Inc. provides clean, reliable future-ready solutions that allow customers to access power faster and manage their emissions while keeping their operations running. Our efficient, scalable, and fuel-flexible systems鈥攔unning on natural gas, biofuels, or hydrogen鈥攑rovide steady baseload, grid-independent electricity worldwide. With more than 55 years of expertise and nearly 200 modules in commercial operation, we help customers achieve their immediate and future energy goals. Learn more at www.fuelcellenergy.com.
Contact:
FuelCell Energy Investor Relations
FuelCell Energy Media Relations
About Inuverse
AI Daegu Data Center (AI DDC) is spearheading the future of hyperscale, sustainable AI infrastructure, driving the RE100 vision with the development of a next-generation Data Center Valley. This initiative positions South Korea as a premier global hub for AI and cloud-driven digital infrastructure. In collaboration with KEPCO (Korea Electric Power Corporation), AI DDC is revolutionizing energy design by integrating carbon-neutral power solutions, ensuring net-zero emissions while maintaining unmatched reliability and scalability. Learn more at www.inuverse.co.kr.
Contact:
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 regarding future events or the Company鈥檚 future performance that involve certain contingencies and uncertainties. The forward-looking statements include, without limitation, statements regarding the Company鈥檚 business plans and strategies, the capabilities of the Company鈥檚 products, the markets in which the Company expects to operate, and the development of, and demand for, the Company鈥檚 products. These forward-looking statements are not guarantees of future performance, and all forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Factors that could cause such a difference include, without limitation, the risk that the Company鈥檚 restructuring plan, revised strategic plan, and workforce reduction will not result in the intended benefits or savings; the Company鈥檚 ability to reduce operating costs; and the other risks set forth in the Company鈥檚 filings with the Securities and Exchange Commission, including the Company鈥檚 Annual Report on Form 10-K for the fiscal year ended October 31, 2024 and the Company鈥檚 Quarterly Report on Form 10-Q for the fiscal quarter ended April 30, 2025. The forward-looking statements contained herein speak only as of the date of this release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement contained herein to reflect any change in the Company鈥檚 expectations or any change in events, conditions or circumstances on which any such statement is based.
FAQ
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