FuelCell Energy Completes $49 Million EXIM Financing to Support Gyeonggi Green Energy Project in South Korea
DANBURY, Conn., Oct. 29, 2026 (GLOBE NEWSWIRE) — FuelCell Energy, Inc. (Nasdaq: FCEL) today announced the completion of the second tranche of its previously announced $49 million financing supported by the Export-Import Bank of the United States (EXIM). The approximately $24.7 million balance (before closing and transaction fees) completes the financing package approved by EXIM in June 2026.
The financing supports FuelCell Energy’s delivery of five 2.8-megawatt (MW) FuelCell Energy Blocks to Gyeonggi Green Energy (GGE) in South Korea. With nearly 60 MW of installed capacity, the GGE site is among the largest fuel cell installations in the world, has been in continuous operations for 13 years, and demonstrates FuelCell Energy’s long-standing experience delivering distributed, utility-scale power solutions.
The transaction builds on EXIM-supported financing completed by FuelCell Energy in 2024 and 2025 and further connects the company’s U.S. manufacturing base with international demand for reliable power. FuelCell Energy manufactures its fuel cell platforms in Torrington, Conn., and more than 90% of its supply chain is sourced from the United States.
Matt Latino, Chief Financial Officer of FuelCell Energy, said:
EXIM can be an important strategic bridge between American manufacturing capacity and global demand,
“For FuelCell Energy, this transaction is another proof point in our broader capital strategy: matching the right source of capital to the right opportunity and building diversified financing capacity to support disciplined growth in both U.S. and international markets. Access to well-structured capital can strengthen our competitiveness, expand the reach of our U.S. manufacturing platform, and help us pursue attractive growth opportunities while maintaining discipline around our balance sheet and return on invested capital.”
FuelCell Energy’s commercially proven platforms are designed to provide continuous power at the point of use and can serve applications ranging from utility and industrial facilities to the growing power requirements of data centers and AI infrastructure. The company’s global installed base is approaching one gigawatt.
Latino added,
EXIM’s ability to support U.S. companies across the export lifecycle can help American manufacturers compete more effectively in global infrastructure markets,
We value the role EXIM can play alongside commercial banks, private capital and other financing partners as we build the capital capacity to support our growth. Technology manufactured in Connecticut is delivering utility-scale power internationally today, and we believe that same manufacturing platform can serve growing demand for dependable power around the world.” The transaction was structured under EXIM’s loan guarantee program and arranged with Private Export Funding Corporation and supported by AF Capital.
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FuelCell Energy Completes $49 Million EXIM Financing to Support Gyeonggi Green Energy Project in South Korea, source
