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Replies to post #42551 on FuelCell Energy Inc (FCEL)
The Korean contract stopped due to accusations of defective parts provided by FCEL. Law suits followed and the work came to a grinding halt.
The move comes after the U.S. fuel cell manufacturer in June sued Posco Energy and its subsidiary Korea Fuel Cell at the ICC and sought $200 million in damages, claiming that the termination of the contract was due to breach of terms by its Korean partners.
Posco Energy called the FCE’s unilateral termination “invalid,” saying it was the U.S. firm that had violated the agreed-upon terms.
AI
