FuelCell Energy signs MoU for clean hydrogen production projects in Korea

FuelCell Energy (NASDAQ:FCEL) +2.7% pre-market Tuesday after saying it signed a memorandum of understanding with Korea Hydro & Nuclear Power Co. to jointly pursue hydrogen energy business initiatives.

FuelCell (FCEL) said the cooperative approach will focus on the development and implementation of advanced energy solutions using its solid oxide electrolysis hydrogen platform and KHNP’s nuclear power plants.

KHNP operates a diverse range of electric generating power plants in South Korea, including nuclear, hydroelectric, renewable energy, and fuel cells.

FuelCell (FCEL) and KHNP said they expect the relationship to foster the development of new technologies and solutions that will enhance energy efficiency and sustainability.