ClearEdge to sell in Korea

Hillsboro-based ClearEdge Power has made an agreement to sell 800 of its fuel cells in Korea, in a deal valued at $40 million.

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Hillsboro-based ClearEdge Power has made a $40 million deal with a Korean distributor to sell 800 of its fuel sells in the country, in the company’s first major geographic expansion.

ClearEdge produces a joint power and heating device that is designed for use in residences and businesses larger than 4,000 square feet.

Under the deal announced Tuesday, LS Industrial, a $1.5 billion Korea-based distributor of industrial electric and automation products, will focus on the sale, distribution and service for 800 ClearEdge5 fuel cell units in Korea.

In a news release, LS said recent federal Korean legislation encourages new buildings to use alternative power sources such as fuel cells.

Read more at Sustainable Business Oregon.


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