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FuelCell Energy Announces “Amicable” Settlement Agreement with POSCO Energy

By July 12, 2019

July 12, 2019

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.

 

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