FuelCell Energy, Inc. and Korea Hydro & Nuclear Power Co., Ltd (KHNP) announced that the two companies have agreed to jointly pursue H₂ energy business initiatives and have signed a memorandum of understanding (MoU) outlining the possibilities.

The cooperative approach will focus on the development and implementation of advanced energy solutions using FuelCell Energy’s solid oxide electrolysis H₂ platform and KHNP’s nuclear power plants within the scope of relevant laws and regulations. This initiative will combine South Korea’s domestic clean energy sources with FuelCell Energy’s electrolyzer platform that uniquely uses electricity and thermal energy sources to produce lower cost, domestic clean H₂, and diversify South Korea’s H₂ supply beyond imported fuels.

KHNP operates a diverse range of electric generating power plants in South Korea, including nuclear, hydroelectric, renewable energy and fuel cells.

FuelCell Energy, a U.S. company with more than 100 megawatts installed and operating in South Korea, will bring its extensive experience and expertise to the partnership. The Danbury, Conn.-based company has developed highly efficient cutting-edge H₂ solutions, including solid oxide electrolysis fuel cell technology.

FuelCell Energy’s solid oxide electrolyzer cell produces H₂ at nearly 90% electrical efficiency without excess heat and can reach 100% efficiency when using excess heat. FuelCell Energy’s solid oxide electrolyzer takes in electricity and cold water and produces dry H₂ at high efficiency. Although, external heat is never needed if it is added as an input FuelCell Energy’s electrolyzer platform converts water and electricity at 100% efficiency.

H₂ produced from electrolysis can be stored long term and transported, allowing zero carbon stored H₂ energy from wind, solar, hydro, and nuclear to be available on demand. The electrolyzer can also be used to develop eFuels for the transport sector and to produce ammonia for fertilizer.

"We are excited to partner with FuelCell Energy to explore new opportunities in the path of energy transition through H₂ initiatives," said Kong, Young-gon, Vice President of H₂ & Smart Business Department of KHNP. "This collaboration aligns with our commitment to innovation and sustainability, and we look forward to working together to develop advanced energy solutions that will benefit both our companies and the communities we serve."

Jason Few, President & CEO of FuelCell Energy, added, "By combining our expertise with KHNP's extensive experience in the energy sector and their country-critical power generation fleet, we are well-positioned to drive innovation and create sustainable energy solutions. We look forward to the positive impact our collaboration will have on the industry and South Korea."