Doosan Fuel Cell’s U.S. Orders Grow to KRW 800 Billion; Total Orders This Year Reach KRW 1.1 Trillion

[Financial News] Doosan Fuel Cell’s U.S. orders for phosphoric acid fuel cells (PAFCs) have grown to approximately KRW 800 billion. The increase follows the signing of an additional supply contract worth approximately KRW 300 billion.
Doosan Fuel Cell announced on the 15th that it had signed a KRW 322.2 billion contract to supply PAFCs for AI data centers in the United States. The fuel cells will be supplied through HyAxiom, a U.S. subsidiary of Doosan Group. Including a previously secured order worth KRW 501.4 billion under the same arrangement, the total value reaches KRW 823.6 billion.
The equipment will be supplied sequentially to North America through HyAxiom starting in 2028. HyAxiom will provide engineering, commissioning, and LTSA (long-term maintenance and service).
Demand for PAFCs has surged recently as data centers expand across the United States. This is because on-site power systems, which place independent generation facilities near data centers, are becoming more widespread. Fuel cells are well suited to on-site power because they can be installed quickly and expanded in stages through their modular design.
The order is particularly significant because it was secured on a large scale despite PAFCs having lower generation efficiency than solid oxide fuel cells (SOFCs). It also indicates that additional orders could follow as data centers continue to expand.
Doosan Fuel Cell has now secured KRW 930 billion in overseas orders alone. This includes the KRW 108.7 billion SOFC stack supply contract signed with Reverion in Germany last August. Including domestic contracts for major equipment, cumulative orders for the year total approximately KRW 1.11 trillion.
[email protected] Kim Yun-ho Reporter