The Korea Economic Daily
South Korea's Doosan Fuel Cell on Monday said it has signed an export contract worth 346.9 billion won($255 million) to supply large-scale versions of its hydrogen fuel cells to China's ZKRG Smart Energy Technology, with which it has formed a joint venture.
ZKRG is a hydrogen fuel cell company in China that uses combined heat and power, or cogeneration. In September of last year, it supplied four 440-kilowatt hydrogen fuel cells from Doosan Fuel Cell to the Nanhai district of the city of Foshan in China's Guangdong province.
Doosan Fuel Cell said China's building of infrastructure for a decentralized district heating system as well as its rising interest in hydrogen as an eco-friendly energy source had a positive effect on this deal. High demand for cogeneration-capable hydrogen fuel cells in city clusters in the Chinese provinces of Guangdong and Hebei is expected to spur higher sales of the Korean company's phosphoric acid fuel cells, which can produce both heat and electricity.