Korean Firm Buys ClearEdge for $32M

By | July 21, 2014

South Korean conglomerate Doosan Corp. said Monday it agreed to buy shuttered South Windsor fuel cell manufacturer ClearEdge Power for $32.4 million.¬†ClearEdge abruptly closed down in late April, laying off 300 workers without warning, and filed for Chapter 11 bankruptcy on May 1. The company launched an auction on July 9 to sell off its assets, in order to repay some of the company’s creditors.

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