DANBURY, Conn., June 29, 2026 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. (Nasdaq: FCEL) announced that the Board of Directors of the Export-Import Bank of the United States (EXIM) approved a financing package on June 23, 2026, of $49 million to be disbursed in two tranches.
The first tranche, expected to disburse on June 30, 2026, provides the company with net proceeds of approximately $22 million after financing fees and customary expenses and reserves to support the 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, GGE's site is among the largest fuel cell installations in the world and serves as an important example of distributed utility-scale clean energy deployment. A second tranche is expected to be disbursed in October 2026, subject to customary closing conditions.
EXIM structured the financing under its loan guarantee program and arranged with Private Export Funding Corporation (PEFCO), supporting the export of American clean energy technology to international markets. It builds upon FuelCell Energy's prior EXIM-supported financing completed in 2024 and 2025 and reflects continued support for the company's export of U.S.-manufactured clean energy technology.
"EXIM's approval validates the strength of this project, our partnership with Gyeonggi Green Energy, FuelCell Energy's business plan, and our ability to deliver distributed utility-scale clean power globally," said Michael Bishop, FuelCell Energy's Chief Financial Officer. "This financing adds non-dilutive capital to support growth and provides added flexibility as we invest in scaling manufacturing capacity, pursuing strategic opportunities in global power markets and mirroring our distributed utility scale solutions to AI factories and data centers."
FuelCell Energy manufactures its clean, baseload fuel cell technology in Torrington, Conn., supporting domestic manufacturing, U.S. supply chains, and skilled American jobs. The transaction aligns with EXIM's mission to support U.S. manufacturing, exports, and global competitiveness. Approximately 90% of the content in FuelCell Energy Blocks is sourced from the United States.
About FuelCell Energy
FuelCell Energy, Inc. is an American clean energy technology company delivering continuous, scalable baseload power for mission critical applications globally. The company's fuel cell systems generate electricity directly at the point of use, enabling reliable, low emissions power for data centers, industrial facilities, utilities, and distributed generation customers. FuelCell Energy delivers commercially proven, modular, utility-scale systems-backed by global fuel cell deployments approaching one gigawatt. Learn more at www.fuelcellenergy.com.
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