US Clean Energy Manufacturer Gains Federal Support for Global Expansion

June 30, 2026
By Mintesinot Nigussie

FuelCell Energy has secured federal export financing to support the expansion of its US-made clean energy technology into international markets, including a major fuel cell project in South Korea.

The Export-Import Bank of the United States (EXIM) approved a 49 million US dollars financing package for the company on June 23, with funds to be provided in two tranches.

The financing will support the delivery of five 2.8-megawatt fuel cell units to Gyeonggi Green Energy (GGE) in South Korea. The company’s facility has nearly 60 megawatts of installed capacity and is among the largest fuel cell installations globally.

FuelCell Energy is expected to receive about 22 million US dollars in net proceeds from the first tranche, scheduled for June 30, after financing fees, expenses and reserves. A second tranche is expected in October 2026, subject to customary closing requirements.

The financing was structured through EXIM’s loan guarantee programme with support from the Private Export Funding Corporation, enabling the export of US-manufactured clean energy systems.

Michael Bishop, chief financial officer of FuelCell Energy, said the financing would provide additional capital as the company expands manufacturing capacity and pursues opportunities in global power markets.

FuelCell Energy produces its fuel cell technology in Torrington, Connecticut, supporting US manufacturing, domestic supply chains and skilled jobs. The company said about 90 percent of the content in its fuel cell units comes from the United States.

The company’s systems generate electricity directly at the point of use and are designed for applications including data centres, industrial facilities, utilities and distributed power generation. FuelCell Energy said its global deployments are approaching one gigawatt of capacity.

Source: FSX Business News