Doosan Fuel Cell to supply additional fuel cells worth W322.2b to US market

Doosan Fuel Cell said Tuesday it has signed a phosphoric acid fuel cell (PAFC) supply contract worth 322.2 billion won ($240 million) with Hyaxxium, a US subsidiary of Doosan.

The deal comes just two weeks after a 501.4 billion won contract signed earlier this month, bringing the cumulative value of agreements between the two companies to 823.6 billion won.

The fuel cells ordered under the new contract will be delivered to North America through Hyaxxium on a rolling basis starting in 2028.

Hyaxxium will provide engineering, commissioning, long-term service and maintenance (LTSA) support for the products.

Fuel cells are attracting growing attention for their short installation timelines and modular design, which allows for phased scale-up. They are particularly well suited to on-site power generation, which places dedicated power facilities near data centers and is gaining traction.

Including an August contract with Germany's Liberion for solid oxide fuel cell (SOFC) stack supply worth 108.7 billion won, Doosan Fuel Cell has secured about 930 billion won in overseas orders over the past month. Combined with domestic equipment supply contracts, the company's cumulative orders this year stand at about 1.11 trillion won.