GWANGJU < invest Korea

According to Yonhap News,

Gwangju Mayor Gang Un-tae, who is currently visiting the U.S. to attract foreign investment, signed a memorandum of understanding with ClearEdge Power, a global fuel cell company located in the City of Portland on April 29th (local time).

ClearEdge Power has agreed to be engaged in establishing a hydrogen fuel cell plant in Gwangju; jointly developing technologies for fuel cells with regional companies; helping to produce fuel cells and components domestically in Korea; constructing a large-scale fuel cell power plant in Gwangju; producing as many as 1,000 components for fuel cells in Gwangju; growing Gwangju into a hub city for new and renewable energy; and creating a fuel cell center in the Asia Pacific region.

An official of Gwangju said on May 1st “the MOU is very meaningful, in that Gwangju, which will hold World Hydrogen Conference in 2014 and has promoted the green energy industry as one of the five main industries, and ClearEdge Power, which plans to establish a head office for the Asia Pacific region, will cooperate closely under the agreement.”

ClearEdge Power, established in 2003, has focused on developing technologies for fuel cells and manufactured 5kW proton exchange membrane fuel cells (PEMFC). The company is rapidly growing based on its advanced technologies and aims to post the annual sales of USD2 billion in 2019.

Source Text

Source: Yonhap News (May 1, 2011)

**This is an English translation of a Korean news article.