In a positive event for FuelCell Energy, it recently announced that the dispute with POSCO Energy has been “amicably” resolved.
FuelCell filed a form 8K with the SEC on Wednesday announcing the settlement.
“On July 3, 2019, FuelCell Energy, Inc. entered into a settlement agreement with POSCO Energy Co., Ltd. representing an amicable resolution to the pending arbitration in Korea that was first reported in the Company’s Form 10-K filed January 10, 2019, thus ending the arbitration.”
The arbitration came about a result of POSCO announcing in 2018 that it planned on terminating FuelCell’s South Korean sales right, thus setting off the arbitration.
