Strategic Partners

POSCO ENERGY

Overview

POSCO Energy is an independent power producer that owns over 3,000 megawatts of power generation assets in South Korea, Indonesia, Vietnam and the United States. POSCO Energy is a division of POSCO, a leading global steel producer with 2016 revenue of approximately $47 billion. Both entities are headquartered in Pohang, South Korea. POSCO Energy 2016 sales totaled approximately $1.5 billion, supported by total capital of approximately $1.3 billion. The parent company, POSCO, is publicly held, trading on the Korean Stock Exchange under the symbol 005490 and on the New York Stock Exchange under the symbol PKX.

FuelCell Energy relationship

POSCO Energy and FuelCell Energy began a relationship in 2003 with the direct sale of a single sub-megawattpower plant. This initial sale subsequently grew into a mutually beneficial partnership with POSCO Energy licensed to manufacture SureSource products in South Korea for sale in Asia. POSCO Energy has installed or ordered more than 270 megawatts of the company’s fuel cell power plants and components.   POSCO Energy owns approximately 4 percent of the outstanding common stock of FuelCell Energy (FCEL).

POSCO Energy website (English)

FRAUNHOFER

Overview

Founded in 1949, Fraunhofer is Europe’s largest application-oriented research organization with an annual research budget of €2 billion and a staff of more than 23,000, primarily scientists and engineers. Fraunhofer has representative offices in Europe, USA, Asia and the Middle East, and more than 60 research institutes globally.

Fraunhofer IKTS, with its staff of 400 highly educated engineers, scientists and technicians, is a world leading institute in the field of advanced ceramics for high tech applications. The primary markets for IKTS include energy and environmental technology with a focus on fuel cell development and commercialization.

FuelCell Energy relationship

Fraunhofer IKTS provides research and development capabilities to FuelCell Energy including advanced ceramics expertise, as well as relationships with the European power generation industry, governments and regulatory bodies.

Fraunhofer IKTS website (English)

NRG ENERGY

Overview

NRG (NYSE: NRG) is a Fortune 200 company and one of the country’s largest power generation and retail electricity businesses. Delivering cleaner and smarter energy choices for its customers, NRG is backed by the nation’s largest independent power generation portfolio of fossil fuel, nuclear, solar and wind facilities. In addition to approximately 50,000 megawatts of generation capacity (equivalent to supplying nearly 40 million homes), its retail electricity providers – Reliant, Green Mountain Energy and Energy Plus – serve almost 3 million customers in all 50 states.

FuelCell Energy relationship

FuelCell Energy and NRG have a co-marketing agreement for NRG to market fuel cell power plants to its customer base. NRG owns approximately 2% of FuelCell Energy common stock, extends a multi-year $40 million revolving construction and term financing facility to FuelCell Finance, a wholly-owned subsidiary of FuelCell Energy, and the CEO of NRG Yield (NYSE: NYLD) is a member of the FuelCell Energy Board of Directors. Learn more about NRG marketing of fuel cells – click here

NRG website

MARKET DEVELOPMENT AGREEMENTS

FuelCell Energy has an agreement with E.ON Connecting Energies GmbH to offer decentralized combined heat and power (CHP) solutions with megawatt (MW) and multi-megawatt SureSource power plants to its existing and prospective customer base, via a power purchase agreement financing or leasing structure.

FuelCell Energy and ExxonMobil (NYSE: XOM) are working together to advance fuel cell carbon capture solutions for applications at gas-fired power plants.