3.01%QQQQ 43.66 3.24%XLF 20.98 4.90%
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DANBURY, Conn. - FuelCell Energy Inc., which makes fuel cells for electric power generation, said Wednesday South Korea's Posco Power ordered two power plants and fuel cell modules for $70 million.
| FCEL | 6.22 |  -0.2 |
FuelCell said the order for the two 25.6 megawatt facilities more than doubles its product backlog; the equipment is scheduled for delivery in 2009.
FuelCell shares shot up $1.12, or 14 percent, to $9.08 in morning trading.
A one-megawatt plant running continuously at full capacity can power 778 households each year, according to the U.S. Department of Energy. Solar technology has lower capacity since its power generation is constrained by availability of the sun.
FuelCell and Posco Power also signed a service agreement covering all Posco Power installations.
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