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FuelCell Energy (NASDAQ:FCEL) +5.7% pre-market Thursday after saying it signed a memorandum of understanding with hyperscale data center developer Inuverse to explore opportunities to deploy up to 100 MW of fuel cell-based power starting in 2027 at a project expected to become South Korea’s largest data center.
The AI Daegu data center, which Inuverse is in the process of developing, is expected to feature advanced rack cooling, hot zone optimization, absorption chilling enabled by the thermal energy from FuelCell Energy’s (NASDAQ:FCEL) platform, and a clean waste model that reduces operational costs and improves performance, the company said.
FuelCell Energy (FCEL) already operates the largest single-site fuel cell park in Korea, totaling 58 MW, and the collaboration with Inuverse is expected to expand its footprint in Asia and “showcase the company’s ability to enable the decarbonization and near elimination of particulate emissions in the digital economy through distributed clean energy.”
“We believe the execution of this non-binding MoU is a strong endorsement of our technology’s ability to meet the evolving demands of data centers and underscores our commitment to the Korean market,” FuelCell Energy (FCEL) Chief Commercial Officer Mike Hill said.