Controlled Liquid Hydrogen Storage: The backbone of decentralized energy

PowerCell Group AB (publ) and ECL announced a strategic partnership to deploy industrial-grade hydrogen fuel cell power across ECL's AI data center platform. The agreement comprises a firm purchase order for PowerCell PS190 fuel cell systems, alongside a separate non-binding memorandum of understanding between ECL and PowerCell for approximately 300 MW of additional hydrogen fuel cell capacity as ECL expands its FlexGrid data center footprint. The partnership is underpinned by PowerCell's industrial partnership with Bosch, its manufacturing partner and largest shareholder, which provides the manufacturing foundation to deliver at industrial scale.

The memorandum of understanding is non-binding and does not represent committed volume or revenue. Any future capacity would be subject to separate, definitive agreements.

Initial deployment begins at ECL's 35MW CSC-1 campus in Santa Clara, California, where containerized PowerCell fuel cell systems will integrate into ECL's FlexGrid microgrid architecture alongside grid power, natural gas and battery storage. The deployment expands on an existing PowerCell deployment at ECL's MV-1 facility in Mountain View, California, where hydrogen has been used as the primary power source for more than two years.

"ECL is among the very few operators who not only run hydrogen in production but understand how to orchestrate it intelligently alongside storage and other energy sources as one integrated system”, said Richard Berkling, CEO of PowerCell Group. “Our firm order for PowerCell PS190 systems, alongside our broader non-binding MOU, sends a clear signal that hydrogen-powered AI data centers are moving from first-of-kind toward industrial scale."

"Every AI roadmap we see is constrained by power, not imagination, funding or demand," said Yuval Bachar, founder and CEO of ECL. “Over the past two years we have continuously operated and optimized liquid hydrogen-powered AI infrastructure at our MV-1 facility, evaluating multiple fuel cell technologies under real operating conditions before selecting PowerCell. This is not a pilot or a proof of concept — we are deploying these PS190 units with the operational data to back it up, and we are signing an MOU for an additional 300 MW because the demand from AI operators for power in constrained markets far exceeds what any single grid connection can deliver."

PowerCell, which spun out of the Volvo Group, brings more than 25 years of fuel cell experience and over one million hours of field data across automotive, marine and stationary power applications. Bosch, PowerCell's manufacturing partner and largest shareholder, provides industrial-scale production and local service capability in North America to support ECL deployments.

Bosch supports this scalable approach by providing the industrial manufacturing foundation. The company also delivers the local North American service needed to integrate these hydrogen systems into core data center infrastructure. “Bringing hydrogen fuel cells to industrial scale requires more than strong technology; it requires manufacturing discipline, predictable quality and dependable lifecycle support, said Thilo Müller, Senior Vice President Fuel Cell Business at Bosch. Bosch is proud to bring that industrial foundation to the partnership with PowerCell and ECL. Our goal is to turn promising technology into reliable, long-term infrastructure.'"

PowerCell's Distributed Master Controller platform will integrate with ECL's Lightning real-time management system to manage dynamic load balancing across fuel cells, batteries, the grid, and natural gas at each FlexGrid site.

The approximately 300 MW figure represents a shared ambition under a non-binding memorandum of understanding. It does not represent committed capacity or revenue, and any future deployment would be subject to separate, definitive agreements. PowerCell's firm order is disclosed in a separate regulatory release issued today.

ECL | www.ecldc.com

PowerCell | www.powercellgroup.com

The International Code Council Evaluation Service (ICC-ES) Electrical Division has achieved accreditation from the American Association for Laboratory Accreditation (A2LA) to ISO/IEC 17020, the internationally recognized standard for inspection bodies, for Field Evaluation services across the United States.

This accreditation demonstrates that ICC-ES meets rigorous global benchmarks for competence, impartiality, and consistent operation in performing field evaluations of electrical equipment. The recognition further strengthens ICC-ES’ position as a trusted partner for manufacturers, authorities having jurisdiction (AHJs), and other stakeholders seeking compliance with codes and standards.

“Today’s electrical industry demands compliance solutions that can keep pace with innovation while never compromising safety,” said Gurvinder Chopra, Vice President of Electrical Services, ICC-ES. “This ISO/IEC 17020 accreditation through A2LA strengthens our ability to support that future, by delivering Field Evaluation services grounded in technical excellence, impartiality, and trust. It is a meaningful step forward in helping manufacturers bring products to market responsibly and helping communities rely on safer, code-compliant electrical installations.”

Field evaluation services play a critical role in verifying that electrical equipment not certified through traditional listing processes meets applicable safety requirements prior to installation and use.

The scope of accreditation covers field evaluations of a wide range of electrical products and systems installed across industrial, commercial, and residential applications. ICC-ES staff can evaluate both new and existing equipment including custom-built, one-of-a-kind, modified, imported, relocated, and limited-production products to determine compliance with applicable electrical codes, product safety standards, and installation requirements.

To support manufacturers at the early stages of development, ICC-ES also offers several electrical services designed to streamline initial evaluations and prepare products for a successful compliance pathway.  

International Code Council Evaluation Service | www.icc-es.org/electrical

Clean Power Alliance (CPA), the nation’s leading green power provider and California’s largest community choice energy aggregator, has approved a long-term power purchase agreement (PPA) with renewable energy developer Avantus for the Rexford 2 solar and battery storage project. The project will deliver 200 megawatts (MW) of solar generation and 200 MW/800 megawatt-hours (MWh) of battery storage capacity to support CPA’s growing portfolio of clean energy resources.

Located in Tulare County, Rexford 2 is expected to begin commercial operations under the PPA by May 1, 2029. With the 20-year agreement, CPA will receive the full output of the project’s solar generation and battery storage resources, including renewable energy, resource adequacy capacity, ancillary services and associated environmental attributes.

The project will provide long-term cost certainty for CPA customers through fixed contract pricing with no escalation over the life of the agreement.

“Rexford 2 is a sound investment in California’s clean energy future,” said CPA Vice President of Power Supply Lindsay Descagnia. “This project provides a fixed long-term price, helping protect our customers from energy market volatility while delivering renewable energy and battery storage that can help meet demand when it matters most. Just as importantly, it will create jobs and support economic development in a disadvantaged area of the state.”

The agreement builds on CPA’s existing relationship with the Rexford renewable energy complex. CPA already receives energy from the neighboring Rexford 1 project, which came online February 2025.

Developed by Avantus, one of California’s leading clean energy companies, Rexford 2 represents another significant investment in renewable energy infrastructure. Avantus has developed more than two dozen utility-scale renewable energy projects totaling approximately 5,000 MW of solar generation and 10,000 MWh of energy storage across the western United States.

“California's energy demand is growing, and we’re proud to develop and operate projects that deliver clean, reliable power,” said Avantus Executive Vice President of Origination and Energy Markets Valerie Barros. “Together with Clean Power Alliance, we will strengthen the grid, bring high-quality jobs and local revenue to Tulare County, and provide affordable renewable energy that helps California meet its clean energy goals.”

Rexford 2 will also provide 200 MW of Resource Adequacy. Its battery storage system will store solar energy generated during the day and dispatch it during periods of peak demand.

Based on estimated annual generation, the project's 200 MW of solar capacity is expected to produce enough clean electricity to serve approximately 84,000 homes each year. The project is expected to avoid approximately 210.2 million pounds of carbon dioxide emissions annually — the equivalent of removing more than 22,000 cars from the road for one year or planting nearly 1.6 million trees and growing them for 10 years. The project's 200 MW/800 MWh battery storage system can deliver up to 200 MW of electricity for four hours, helping shift solar energy to periods of peak demand and supporting grid reliability when customers need it most.

Construction is expected to create approximately 500 direct construction jobs under a project labor agreement, along with 10 permanent operations positions. Workforce development opportunities will prioritize local participation and support workers in surrounding communities.

The site is on previously disturbed land, minimizing environmental impacts. It is also expected to support the local economy through capital investment, landowner payments and tax revenues associated with construction and operations.

Having advanced through late-stage development, Rexford 2 has secured key permits, site control, and interconnection agreements, positioning it as a viable, low-risk addition to CPA's energy portfolio.

Clean Power Alliance | www.cleanpoweralliance.org

Avaada Electro Limited, the solar PV manufacturing arm of Avaada Group, has advanced its 6 GW high-efficiency N-Type TOPCon solar cell manufacturing facility at its integrated solar manufacturing factory in Butibori, Nagpur. The first 3 GW production line is now operational, while the balance capacity is under ramp-up. 

The facility is equipped with advanced N-Type TOPCon technology capable of delivering cell efficiencies of up to 25.5% under standard test conditions, supported by 16-busbar and 18-busbar architecture for higher power density, reliability and energy yields.

The Nagpur line is part of Avaada’s broader manufacturing roadmap. The company currently operates 8.50 GW of N-Type TOPCon glass-to-glass module capacity across Nagpur and Dadri, and is planning to add 5.10 GW to reach 13.60 GW of module capacity. It is also progressing toward adding another 6 GW of solar cell line at Greater Noida, taking total solar cell capacity to 12 GW. As a part of backward integration company is also planning 3GW of ingot and wafer capacity at Nagpur.

Vineet Mittal, Chairman and Whole-Time Director, Avaada Electro Limited, stated, “With the establishment of our 6 GW solar cell factory at Butibori in Nagpur, Avaada is actively contributing towards India’s green industrial age and complete technology independence. This facility is our definitive pledge to the nation - a localized manufacturing ecosystem engineered to minimise foreign import dependencies in an era of de-globalization, accelerate our economic trajectory, and position India at the absolute vanguard of the global energy transition. This factory represents far more than industrial infrastructure; it is a sustainable, co-located complex built on the values of indigenous ingenuity and environmental stewardship. We are not just scaling production; we are aiding a sustainable future where homegrown innovation dictates the global clean energy roadmap, anchoring India’s position as a green superpower. As India’s AI-driven digitization and data infrastructure scale at far greater pace, the demand for power that is clean and always on will only intensify, and facilities like Butibori ensure that this next wave of growth is built on a foundation of dependable, indigenous clean energy. This embodies the essence of Atmanirbhar Bharat - a strategic signal to the global market that India is ready to dictate the future of renewable energy."

The integrated manufacturing ecosystem is designed to enhance supply chain resilience, improve operational efficiencies, reduce logistics costs, and accelerate localization across the solar value chain. 

The development also strengthens Avaada Group’s position as an integrated energy transition company with interests across renewable power generation, solar PV manufacturing, green hydrogen and derivatives, energy storage and pumped storage. Avaada Energy has a renewable energy portfolio of over 17.70 GWp, including more than 7.20 GWp operational and about 10.50 GWp under construction, supporting India’s energy transition, strengthening domestic manufacturing and decarbonisation journey.

Avaada | https://avaadaelectro.com/

Black Bear Energy, a national commercial buyer’s representative specializing in onsite renewable energy, facilitated the energization of a new 1.29 MW solar installation developed by Dimension Energy, a leading developer, owner, and operator of distributed energy infrastructure, at New York Life Investment Management’s (NYLIM) 5-61 Bay Avenue facility in Elizabeth, NJ. The installation is set to produce approximately 1.5M kWh of clean energy annually. 

The project is supported by the New Jersey Community Solar Energy Program (CSEP), a program that enables residents across New Jersey to benefit from solar installations on large industrial rooftops. Notably, more than 50% of the subscribers for this project are low to middle-income (LMI) households, who will receive discounted power and a guaranteed utility bill credit of 25% or more.

“This project reflects our commitment to integrating sustainability into our investment process,” said Brooke Pottish, Director at New York Life Investment Management. “Through our partnership with Black Bear Energy and Dimension Energy, we’re proud to support a project that is expected to provide operational and economic benefits to the property while providing discounted power to New Jersey residents, including those in lower- and middle-income (LMI) households.”

The installation marks the second energized project between NYLIM and Black Bear Energy since the partnership began in 2018. With further projects expected, the collaboration exemplifies how commercial organizations can leverage state legislation to create potential revenue opportunities through community solar initiatives while positively impacting their local communities.

“This collaboration is a testament to the power of commercial, state, and community alignment in advancing renewable energy deployment,” said Victoria Stulgis, President of Black Bear Energy. “We are proud to facilitate this impactful project, which delivers measurable economic benefits to both NYL and the surrounding community while contributing to grid resilience.”

Dimension Energy echoed the enthusiasm: “It is partnerships like these that enable us to scale community solar efforts and bring meaningful energy cost savings to households who need it most. Community solar remains one of the most effective and fastest ways to bring tangible savings to New Jersey residents, using vacant rooftops to deliver local, affordable power. We’re proud to see this project come to fruition,” said Bryan Bentrott, Executive Vice President of Markets and Revenue at Dimension Energy.

Statements regarding anticipated operational or economic benefits reflect current expectations and are subject to change. There can be no assurance that expected benefits will be realized.

References to sustainability initiatives relate to this specific property and should not be interpreted as representative of all investment strategies or investment decisions managed by New York Life Investment Management.

Black Bear Energy | https://www.blackbearenergy.com/

Dimension Energy | www.dimension-energy.com

Cadeler has signed an EIFO-backed senior secured green term loan facility of EUR 247 million to finance in part the construction of its third A-class newbuild offshore wind installation vessel, Wind Apex, with delivery expected in Q2 2027.

The 12-year facility is supported by the Export and Investment Fund of Denmark (EIFO) and has been designated as green financing under Cadeler's Green Finance Framework.

The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch acted as Coordinator, Mandated Lead Arranger, Facility Agent, Security Agent and EIFO Agent. The lending syndicate comprises HSBC, KfW IPEX-Bank, Coöperatieve Rabobank U.A. and DNB Bank ASA.

Commenting on the financing, Mikkel Gleerup, CEO of Cadeler, says: “We are pleased to have secured this financing for Wind Apex together with a strong group of international banking partners. We greatly value our longstanding relationship with EIFO and appreciate their continued support for Cadeler's growth. Their backing, together with that of our lending partners, reflects continued confidence in Cadeler and our ability to deliver the offshore wind installation capacity our customers need.”

Peter Boeskov, COO at EIFO Large Corporates comments: “Strengthening Danish companies and supply chains in the energy transition is a strategic priority for EIFO. Cadeler exemplifies how quickly Danish expertise can scale globally, now operating the world’s largest installation fleet for offshore wind. With this third transaction, we reaffirm our long-term commitment to supporting Cadeler's continued growth.”

Cadeler | www.cadeler.com