FuelCell Energy and POSCO Power sign license agreement
Oct 29, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --
Companies: FuelCell Energy, Inc. (FCEL), Pohang Iron & Steel Co., Ltd. (PKX)
FuelCell Energy, Inc. has signed a licensing agreement with POSCO Power Corp., a South Korean power generation company, allowing POSCO to manufacture fuel cell stack modules from cell and module components provided by FuelCell Energy.
FuelCell Energy is a US-based company engaged in the development and manufacturing of fuel cell power plants for electric power generation.
Under the agreement, POSCO Power will manufacture fuel cell modules from components and cells manufactured in the US by FuelCell Energy. The fuel cell modules will be combined with balance-of-plant manufactured in South Korea to complete electricity-producing fuel cell power plants for sale in South Korea.
The agreement includes an upfront license fee of $10 million, which was paid at signing, as well as an ongoing royalty, initially set at 4.1% of the revenues generated by sales of the fuel cell stack modules by POSCO Power.
Deal Type Partnership Sub-Category Licensing Agreement Deal Status Completed: 2009-10-29
Deal Participants
Partner 1 (Company) POSCO Power Corp Partner 2 (Company) FuelCell Energy, Inc. (formerly Energy Research Corp.)
Copyright (C) 2009 Datamonitor Financial Deals Tracker. All rights reserved
News Provided by COMTEX
Companies: FuelCell Energy, Inc. (FCEL), Pohang Iron & Steel Co., Ltd. (PKX)
Related terms: electricity, energy, fuel cell, manufacturer, manufacturing, partnership, power plant, research, sales, south korea
Zibb.com
Zibb.co.uk
Zibb.fr
Zibbsearch.nl