FuelCell Energy Inc (FCEL)

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POSCO ENERGY Establishes New Fuel Cell Specialized Subsidiary
Within
Year
Expected to Strengthen Expertise by Operating Manufacturing and Power Plants and Lead the MCFC Market
2019-09-09
? POSCO ENERGY Pohang Fuel Cell Plant
A molten carbonate fuel cell (MCFC) POSCO energy that we operate the sets out to enhance expertise and competitiveness through the fuel cell division split off .
POSCO ENERGY held a board meeting at the POSCO Center in Teheranro, Seoul on the 6th , and decided to establish a new corporation by dividing the fuel cell business division .
Established method to separate the company's fuel cell division split off to the new corporate approach to the fuel cell business in a professional and POSCO Energy shares 100% will be promoted in the form with . The establishment of a new corporation will complete all procedures within this year .
The new subsidiary will carry out existing businesses such as fuel cell manufacturing and fuel cell power plant O & M (Operation & Maintenance) . POSCO Energy recently renewed a game against the Green Energy LTSA contract (Long Term Service Agreement, long-term service contract ) with the exception of other baljeonsa LTSA excluding contracts from the transfer destination in accordance with the spin-off entered into a subcontracting agreement with the new entity, if necessary Position to carry out the service .

POSCO Energy has sought ways to enhance competitiveness in both the business of the different composition of the development projects and manufacturing and efficient distribution of manpower and resources to enhance the corporate value and focus , leading to the establishment specializing in fuel cell companies Said he lost . Through this, fuel cell companies will be able to make independent and autonomous management and make quick decisions .
POSCO Energy official " fuel cell expertise consists of strengthening business expertise, and a fuel cell by focusing on the natural role business quality innovation , plans to focus on improving such management efficiency, reduce costs ," he said, " especially the United States FuelCell Energy (FCE) strategic with through strengthening future business partnerships MCFC ( molten carbonate fuel cell ) is expected to continue leading the market, leading to " he said .