Mentioned:
Siemens is partnering up with a publicly traded fuel cell company. But, why?
What’s happening:
- FuelCell Energy (NASDAQ: FCEL) and Siemens have struck a new collaboration focused on accelerating on-site deployment of fuel cell distributed energy systems at data centres and industrial facilities
Why it matters:
- This is the first time ever that Siemens and FuelCell Energy have formed a strategic collaboration to co-develop large on-site fuel cell power solutions
Going deeper:
- Siemens will design and supply switchgear, medium-voltage equipment and controls for FuelCell Energy’s projects as part of the new collaboration and provide their electrical infrastructure to connect and manage the fuel cell power blocks
- FuelCell Energy has been making a flurry of moves to deploy their fuel cell technology at data centres lately, including notably striking a deal with Fit Energy to provide up to 380 megawatts of on-site power
The intrigue:
- FuelCell Energy also just recently made major waves when they landed a $49M USD loan from the United States Export-Import Bank
