Doosan resurrects bankrupt fuel cell plant
Doosan Fuel Cell turns around ailing Connecticut facility, leveraging 50 years of fuel cell technology
Doosan Fuel Cell, which established in July 2014 after buying the assets of US-based ClearEdge Power after the latter's close run with bankruptcy, has turned the fortunes of the ailing Connecticut company unit around, taking it from a state of closure to one of nearly full production within just twelve months.
Starting with a handful of employees and financial support from its parent company, Doosan Fuel Cell has converted optimism into a reality that will employ about 300 people by the end of this year.
Doosan has signed multiple contracts over the past 12 months to install and operate 440 kW PureCell fuel cells at mixed-use properties, public and private buildings, and mining and production facilities.
“Our rapid expansion is a bold testament to our employees and that fuel cells are becoming accepted as a viable energy source that offers economic and environmental benefits,” said Jeff Chung, CEO of Doosan Fuel Cell.
“More and more companies are selecting a Doosan PureCell to provide reliable power for their facilities, free from the risk of disruption from electrical grid failures, blackouts and Mother Nature.”
Over the course of the year, Doosan Fuel Cell has successfully optimised the five decades of fuel cell technology, patents and manufacturing expertise inherited from UTC Power to build a sales pipeline of more than 50MW across the globe and reach an all-time highs in production level.
Doosan power plants are now being installed from Verizon in California to CT Transit in Connecticut. They’re also helping to power facilities like Korea South East Power in Seoul, all of which equates to 140 Doosan PureCell systems under long-term service contracts in the two countries.
The global fuel cell market is expected to grow at a CAGR of more than 30% through 2019 – driven by disasters like Fukushima and Super Storm Sandy and the implications for corporate decision-makers.
“At Doosan, we care about the environment, renewable energy and the future of our planet, and we believe that supplying clean fuel cell power is a necessity,” added Chung.
“We’re proud of our achievements during the past 12 months, and we’re confident our investments in technology and people – combined with balancing our near-term business goals and long-term view of the planet – will position Doosan Fuel Cell as a major player in the clean energy industry.”