FuelCell Energy, based in Danbury, Connecticut, has closed a project debt financing deal with the Export-Import Bank of the United States (EXIM) for its fuel cell projects with Gyeonggi Green Energy (GGE) in Korea. The $9.4 million financing will support the purchase of forty-two upgraded carbonate fuel cell modules to replace existing units at GGE's Hwaseong Baran Industrial Complex, the world's largest fuel cell power platform. FuelCell Energy plans to pursue additional financing to meet the working capital needs of the transaction. The partnership aims to provide clean, efficient, and reliable energy solutions to the Korean market and globally. The agreement with GGE includes a new seven-year service contract where FuelCell Energy will service the fuel cell modules, expecting approximately $160 million in revenue over the agreement's term. The financing, part of EXIM's Project & Structured Finance program, highlights the support for U.S. exporters in the natural resource and infrastructure sectors. The fuel cell modules are manufactured in the U.S. at FuelCell Energy's Torrington factory, using U.S. sourced materials and suppliers, contributing to domestic job support and American-made technology. The deal received positive feedback from executives like Michael Bishop and Jason Few from FuelCell Energy, as well as EXIM President Reta Jo Lewis, emphasizing the importance of supporting environmentally beneficial exports and clean energy technology. AF Capital, acting as a servicing agent for the lender, expressed their delight in being part of the partnership. The financing marks a significant step in expanding the use of fuel cell technology for clean baseload power in the Korean market, showcasing a positive outlook towards hydrogen adoption.