FuelCell Energy Inks Long Term Service Agreement With Gyeonggi Green Energy Co, GGE To Purchase 42 1.4-MW Upgraded Carbonate Fuel Cell Modules To Replace Existing Fuel Cell Modules At The Hwaseong Baran Industrial Complex Fuel Cell Power Platform; Expects To Receive ~$160M Of Revenue Over The Term Of The Agreement
Portfolio Pulse from Benzinga Newsdesk
FuelCell Energy has signed a long-term service agreement with Gyeonggi Green Energy Co. The agreement includes the purchase of 42 upgraded carbonate fuel cell modules to replace existing modules at the Hwaseong Baran Industrial Complex. FuelCell Energy expects to receive approximately $160 million in revenue over the term of the agreement.
May 28, 2024 | 4:50 pm
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FuelCell Energy has entered into a long-term service agreement with Gyeonggi Green Energy Co., which includes the purchase of 42 upgraded carbonate fuel cell modules. This deal is expected to generate approximately $160 million in revenue for FuelCell Energy.
The long-term service agreement and the significant revenue projection of $160 million are likely to positively impact FuelCell Energy's stock price in the short term. This deal enhances the company's revenue stream and strengthens its market position in the renewable energy sector.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100