Sustainable Development Capital LLP and FuelCell Energy announced a collaboration to explore deploying up to 450 megawatts of advanced fuel-cell power systems to support data center growth and other mission-critical distributed power needs.

Sustainable Development Capital LLP (SDCL) and FuelCell Energy, Inc. (Nasdaq: FCEL) today announced a strategic collaboration to explore the deployment of up to 450 megawatts of advanced fuel-cell power systems to support data center growth and other mission critical distributed power needs globally.

The collaboration reflects a shared view that AI is forcing a fundamental redesign of data-center power architectures. AI is not just increasing power demand, it is changing the nature of power demand, requiring highly reliable, scalable, and resilient on-site generation solutions capable of supporting always-on, compute-intensive workloads.

The planned collaboration integrates FuelCell Energy’s proven distributed baseload power technology, capable of delivering reliable, high-availability power close to load centers, with SDCL’s experience in financing and operating scalable energy infrastructure. The two companies have executed a letter of intent outlining their plans to work together to support energy solutions that enhance availability, resilience, and cost competitiveness in energy-intensive applications.

The collaboration reflects a broader trend in data center development where onsite or behind-the-meter power solutions are increasingly evaluated alongside traditional grid supply to address delivery timelines, grid constraints, and decarbonization goals. It also underscores the importance of partnering with organizations that have deep experience deploying large-scale energy infrastructure efficiently and reliably.

“At SDCL, we invest in energy efficient infrastructure that delivers long-term value while supporting the evolution to a cleaner energy system,” said Jonathan Maxwell , Chief Executive Officer of SDCL. “We believe that FuelCell Energy’s technology aligns well with that vision, offering reliable, high-availability power with significantly lower emissions. Its flexibility and efficiency make it particularly attractive for data centers, where resilience and sustainability increasingly need to go hand in hand.”

“As AI and high-performance computing scale, power is no longer just about more capacity—it’s about a different architecture,” said Jason Few , President and Chief Executive Officer of FuelCell Energy. “With clear cost, efficiency and power density advantages, the industry is moving toward centralized, 800-volt DC power for data centers. FuelCell Energy natively generates continuous, megawatt-scale direct DC power behind the meter, delivered today through AC-coupled systems and architecturally ready for 800-volt DC designs. Importantly, customers can deploy our systems today in AC configurations and transition to DC over time without replacing the core power modules, preserving flexibility as architectures evolve.”

Few added, “In addition, our platform can facilitate the productive use of thermal energy where waste heat is captured and used for applications such as absorption chilling, reducing overall electrical load and may improve data center efficiency, including Power Usage Effectiveness (PUE). Our collaboration with SDCL brings together a differentiated technology platform and a partner with deep experience financing and operating projects at scale, creating a pathway to deploy up to 450 megawatts of distributed fuel-cell capacity to support data-center growth and other mission-critical power needs.”

FuelCell Energy’s advanced power systems are designed to deliver continuous, on-site power and can operate independently of the electricity grid during normal running, subject to reliable fuel supply and any site-specific backup/start-up arrangements. The systems are designed to minimize local air pollutants typically associated with combustion-based generation (for example nitrogen oxides (NOx), sulphur oxides (SOx) and particulate matter (PM)), with performance dependent on configuration, operating conditions and fuel type. Because electricity is generated electrochemically rather than by combustion, these platforms can provide a reliable, resilient on-site generation option for a range of commercial and industrial applications.

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COMTEX_472245784/2227/2026-01-22T18:16:01