HydroGen and Samsung enter corporate agreements

HydroGen Corporation and Samsung Corporation have entered into a number of strategic cooperation agreements surrounding Fuel Cell Power Plants.

A master cooperation agreement, an exclusive distribution and marketing agreement and a non-binding letter of intent for the sale of an initial five MW fuel cell power plants has been agreed.

Samsung will act as HydroGen's sole and exclusive distributor to the market and distribute and sell is phosphoric acid fuel cell (PAFC) power plants mainly available in Asia and the Middle East.

The master corporation agreement will see the two firms cooperate for the sale and marketing of multi-megawatt fuel cell power plants, including HydroGen selling Samsung some of its fuel cell power plants for hydrogen-available applications.

HydroGen will also produce a design for multi-megawatt PAFC power plants operating on natural gas based on specifications established by the firms.

Mr Sung-Ha Chi, president and chief executive officer of Samsung Trading Group, said: "Samsung Corporation plans not only to sell fuel cell power plants using HydroGen's technology, but also to operate fuel cell plants in the role of an independent power producer."



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Source: Adfero