LONDON (dpa-AFX) - Diversified Energy Co. PLC (DEC, DEC.L) on Monday announced a strategic partnership with FuelCell Energy, Inc. (FCEL) and TESIAC, an investment and development platform, to address the energy needs of data centers. They plan to supply up to 360 megawatts of electricity to three locations in Virginia, West Virginia, and Kentucky.
The partnership will set up an Acquisition and Development Company or ADC to provide reliable, cost-efficient, and net-zero power using natural gas and captured coal mine methane or CMM to meet the growing energy demand of data centers.
The three companies will combine natural gas production, fuel cell technology, and infrastructure financing to create an efficient, scalable, and sustainable energy solution. FuelCell Energy will provide the technology, while TESIAC will manage financing and development.
The partnership will support AI and advanced graphics data centers using U.S.-made technology and materials, creating jobs in construction, maintenance, and engineering while boosting the economy and innovation in high-energy industries.
Key benefits include on-site power generation for reliability, the ability to sell excess power to the grid, faster deployment through innovative financing, and lower carbon emissions using captured methane and fuel cells.
Friday, Diversified Energy stock closed at $11.28, 0.89% higher on the New York Stock Exchange. In the after-market hours, the stock traded 1.33% higher before ending the trade at $11.43.
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