POSCO Power Orders 30.8 MW of FuelCell Energy Modules and Components With Estimated Value of $58 Million

POSCO Power Also Plans to Purchase $25 Million in FuelCell Energy Common Stock

FuelCell Energy, Inc. (Nasdaq:FCEL), a leading manufacturer of high efficiency ultra-clean power plants using renewable and other fuels for commercial, industrial, government, and utility customers, today announced that POSCO Power, South Korea's leading independent power producer, ordered 30.8 megawatts (MW) of FuelCell Energy Direct FuelCell(r) (DFC(r)) modules and components. The order represents an estimated sales value to the Company of $58 million and calls for delivery during 2010 and early 2011.

Published: 09 June 2009
Written by Editor
Nasdaq   Energy   New Product or Order   Up on News  
Read more: FuelCell Energy Inc ( FCEL )

Valence Signs MOU with Siemens to Develop Batteries Compatible with Siemens Marine Hybrid Propulsion Systems

Valence Technology, Inc. (NASDAQ: VLNC), a leading U.S.-based manufacturer and supplier of lithium iron magnesium phosphate energy storage solutions, today announced it has signed a memorandum of understanding with Siemens Drive Technologies Division, the world's leading supplier of products and services for production machinery and machine tools, to develop modular and scalable energy storage systems compatible with a standard interface of Siemens’ ELFA® Hybrid drive marine propulsion system.

The ELFA® Hybrid drive range is already in use in buses, cranes and boats with over 8 million hours recorded on systems from leading bus manufacturers as well as selected boat manufacturers.

Published: 02 June 2009
Written by Editor
Nasdaq   Energy   Project Updates   Up on News  
Read more: Valence Technology Inc ( VLNC )