Doosan Fuel Cell Focuses on Stationary Segment
Following its acquisition of bankrupt ClearEdge Power and its merger with Fuel Cell Power, Doosan Corporation, a $21-billion Korea-based company, has formed Doosan Fuel Cell America.
Doosan says it will focus on the $1.7-billion stationary fuel cell market that provides energy for residential and commercial building applications and is growing at a rate of thirty percent per year.
“Fuel cells are the future of distributed energy and we view this still-burgeoning industry as a catalyst for growth throughout Doosan Corporation,” said Group CEO Jeff Chung, a Harvard grad and former McKinsey & Company consultant who headed corporate strategy with Doosan Heavy Industries prior to assuming the role as head of the fuel cell group.
According to Chung, Doosan plans to add hundreds of employees to its Connecticut-based operation, situated in South Windsor, just outside of Hartford. It will focus primarily on the 400-kW stationary fuel cell offerings that ClearEdge Power acquired from UTC Power in spring 2013. Chung will drive the Doosan fuel cell operations in the US and Korea from the Connecticut facility.
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