FuelCell Energy Inc (NASDAQ:FCEL) shares are trading higher. The company on Thursday highlighted a significant Korean market expansion milestone and provided some details from a recent event in Seoul.
What Happened: FuelCell said it recently held an event in Seoul, reinforcing the company’s commitment to the Korean market and highlighting how its two differentiated carbonate and solid oxide platforms help enable the energy transition to sustainable energy.
“During our event with industry leaders, the FuelCell Energy team answered questions about our targeted set of sustainable energy solutions,” said Jason Few, CEO of FuelCell.
“We also outlined advancements that we have made to our carbonate fuel cell, including carbon capture capabilities, and we introduced our second electrochemical platform–solid oxide–that we believe will play a vital role in Korea’s transition to hydrogen, particularly as it relates to utilizing hydrogen as a fuel for power generation and converting zero carbon energy from nuclear and other renewable sources to clean hydrogen.”
FuelCell said its technology is now deployed across South Korea producing more than 100 megawatts of sustainable electricity without combusting fuel. The company is committed to working with Korea on its Hydrogen Economy Roadmap, which aims to supply 15 gigawatts of power from fuel cells by 2040.
Related Link: AZZ Q1: Earnings Beat, Cash Flow Strengthens & More
FCEL Price Action: FuelCell shares were up 3.52% at 62 cents at the time of publication, according to Benzinga Pro.
Photo: courtesy of FuelCell.