Oregon company selling $500 million in fuels cells

By the Associated Press | January 10, 2012 | 4:25 PM EST

HILLSBORO, Ore. (AP) — An Oregon fuel cell manufacturer has announced an agreement to sell $500 million worth of equipment to a clean energy company in Austria.

ClearEdge Power Inc., of Hillsboro, announced Tuesday the contract with Gussing Renewable Energy GmbH in Gussing, Austria, will produce up to 50 megawatts of power by the year 2020.

ClearEdge says it represents one of the largest orders yet for the fledgling fuel cell industry.

A privately held company, CearEdge produces fuel cells that are about the size of a home refrigerator. They take a fuel such as natural gas and breaks it down to produce heat and electricity.

The agreement calls for Gussing to sell, install and service ClearEdge systems in Austria.