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Doosan Spins Out Fuel Cell Business and Announces Plans to Construct Korea’s 1st Liquid Hydrogen Plant

By April 24, 2019 < 1   min read  (170 words)

April 24, 2019 |

Doosan Liquid Hydrogen Plant

SEOUL–South Korea’s Doosan Corp. recently announced that it has decided to separate the company’s fuel cell and battery foil and OLED material business units in order to capitalize on the growth potential as independent entities.

As of October 1st 2019 the two new companies are going to be named “Doosan Fuel Cell” and “Doosan Solus,” and will independently be listed on the stock exchange.  

Doosan said “the separation will help promote fast growth of the two businesses based on recent market outlooks and an aggressive and agile business development approach is needed to take leadership in the market.”

On April 23 , Doosan announced that it plans to construct Korea’s first liquid hydrogen production facility.

The liquid hydrogen plant is planned to be built by 2021 at the southern port city of Changwon.

Doosan estimates the construction project is estimated to cost 35 billion won (US$30 million), much of this funding will be financed by the Changwon municipal government.

The new plant aims to produce 0.5 ton of liquid hydrogen per day.

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