斗山燃料电池签下5014亿韩元美国AI数据中心燃料电池供货合同

Doosan Fuel Cell is entering the U.S. power market by supplying fuel cells to artificial intelligence data centers in the United States. The company is targeting demand for distributed generation, where electricity is produced and delivered right next to a data center without waiting for a grid connection.
Doosan Fuel Cell said in a regulatory filing on the 2nd that it signed a 501.4 billion won ($364 million) contract to supply phosphoric acid fuel cells (PAFC) to HyAxiom, a U.S. subsidiary of Doosan (000150). The contract value is equivalent to 110.25% of the company's annual revenue last year of 454.8 billion won.
Doosan Fuel Cell will deliver the units to HyAxiom in stages from the second half of this year through the first half of 2028, and HyAxiom plans to supply them to AI data centers in the United States. The end customer, installation sites and total supply capacity were not disclosed at the customer's request.
Phosphoric acid fuel cells are power generation equipment that converts the chemical energy of fuel into electricity using phosphoric acid as an electrolyte. "This fuel cell export is significant in that it met the high performance standards required by the North American data center market," Doosan Fuel Cell said. "Based on high generation efficiency and 24-hour continuous operation, our fuel cells broadly satisfy the power reliability, maintenance convenience and load-response capability that data centers require."
Behind the contract is a power bottleneck in the United States. Building a data center takes about 18 months, while adding large power plants and transmission and distribution networks takes several years or more. Global big tech firms are therefore expanding the use of on-site power, in which generation equipment is installed near a data center rather than drawing from the grid, and fuel cells are emerging as a leading alternative.
"This contract confirms our competitiveness in the United States, a core market, as a behind-the-meter (BTM) solution that can resolve the power bottleneck facing data centers in the AI era," an official at Doosan Fuel Cell said. "Using this as a springboard, we will expand additional orders in the North American market with rapid supply and phased scalability."