Doosan Fuel Cell was up more than 8% in early trading on the 26th. Buying is seen as picking up after the securities industry suggested the possibility of supplying fuel cells to U.S. data centers.
As of 9:30 a.m. on the 26th, Doosan Fuel Cell shares were trading at 41,300 won on the Korea Exchange, up 8.4% (3,200 won) from the previous day.
Jeong Hye-jung, a KB Securities researcher, said in a report on the 25th, "Doosan Fuel Cell is securing diverse sales channels by beginning mass production of solid oxide fuel cells (SOFC)," and noted, "We are revising up the mid- to long-term post-tax operating profit outlook from 2027 to reflect the materializing exports of fuel cells to U.S. data centers."
Jeong said, "Doosan Fuel Cell developed a solution (PAFC) that can use waste heat from fuel cells for cooling and completed technology verification with big tech companies," adding, "It is in talks with utilities and developers."
She added, "With few companies globally mass-producing fuel cells for power generation, big tech companies are in a phase where they must quickly secure on-site generation following President Trump's announcement of an emergency power auction," and analyzed, "If exports of the new PAFC model for data centers and orders for data centers become visible through SOFC production stabilization and cost reductions, there could be further upward revisions."