Mentioned:
FuelCell Energy is getting serious about the opportunity in data centres. Which is exactly why they’ve just struck a major new deal with Fit Energy.
What’s happening:
- FuelCell Energy (NASDAQ: FCEL) has entered into a new deal with Fit Energy to deploy up to 380 megawatts of on-site power for data centres using FuelCell Energy’s fuel cell technology
By the numbers:
- Fit Energy has paid a deposit for deploying FuelCell Energy’s fuel cells for an initial 30 megawatts of power
Why it matters:
- This is the single largest potential power supply deal that FuelCell Energy has ever struck with one single partner
Going deeper:
- FuelCell Energy’s fuel cell technology is capable of being deployed directly at data centres and providing continuous caseload power that can operate independently of the grid as well as supporting cooling needs
- Fit Energy is a private energy infrastructure platform focused on owning and operating power-generation assets that deliver large scale, reliable power for data centres
The intrigue:
- Fit Energy and FuelCell Energy have publicly stated that they are Fit Energy will receive warrants in FuelCell Energy that are based on specific milestones of deployed capacity
