Hillsboro-based ClearEdge Power has made a $40 million deal with a Korean distributor to sell 800 of its fuel sells in the country, in the company's first major geographic expansion.
ClearEdge produces a joint power and heating device that is designed for use in residences and businesses larger than 4,000 square feet.
Under the deal announced Tuesday, LS Industrial, a $1.5 billion Korea-based distributor of industrial electric and automation products, will focus on the sale, distribution and service for 800 ClearEdge5 fuel cell units in Korea.
In a news release, LS said recent federal Korean legislation encourages new buildings to use alternative power sources such as fuel cells.
Read more at Sustainable Business Oregon.