Wells Fargo Inks Program Agreement With Doosan Fuel Cell America

Doosan Fuel Cell America, a subsidiary of Doosan focused on the manufacture and sale of clean, efficient and reliable fuel cells, established a strategic alliance with Wells Fargo Vendor Financial Services to expand its business in the U.S.

Under this new alliance, Doosan will supply fuel cells to Doosan Energy Solutions America, a newly formed Doosan company focused on providing innovative energy products, to sell on-site electricity below market rate to commercial, industrial and municipal customers.

This program, Doosan Energy Services (DES), provides customers guaranteed savings along with the benefits of clean energy through a power purchase agreement with Doosan Energy Solutions America, where the customers only pay for the electricity produced, not any upfront or on-going costs related to fuel, installation or service.

Jeff Chung, president and CEO of Doosan Fuel Cell America, welcomed the new program, commenting, “We are providing an innovative, clean, hassle-free and resilient power solution that offers guaranteed savings to customers.”

Jim Kelly, business leader at Wells Fargo Vendor Financial Services noted, “We have a very strong relationship with Doosan. Collectively we were able to structure a program that meets their needs and position Doosan Fuel Cell America to grow their business. We look forward to continuing to expand our relationship with Doosan in the future.”

South Windsor, CT-based Doosan designs, engineers and manufactures fuel cells for commercial and industrial applications.

Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
[email protected]
Susie Angelucci
Advertising: 484.459.3016
[email protected]

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.