Doosan Fuel Cell Falls 11% Despite Announcing Entry into U.S. Power Market

[Financial News] Doosan Fuel Cell is down more than 10% despite news that it will enter the U.S. power market for AI data centers. 
On the 2nd, Doosan Fuel Cell was trading at 39,400 won, down 11.16%, as of 10:30 a.m. on the KOSPI market.
Doosan Fuel Cell announced that it had signed a contract to supply fuel cells for data centers to its U.S. subsidiary, HyAxiom, through April 2028. The contract is worth 501.4 billion won, equivalent to 110% of last year's revenue.
The market viewed the contract as particularly significant because it marked the company's first entry into the U.S. data center power market. 
Han Byung-hwa, a researcher at Eugene Investment & Securities, said, "Bloom Energy is a formidable competitor that dominates the market, and Doosan Fuel Cell has broken through its stronghold to enter the market for the first time. This is an important contract because Doosan Fuel Cell's PAFC (phosphoric acid fuel cell), a different type of technology, has begun to be supplied to data centers."  
[email protected] Joo Won-gyu Reporter