- Bloom Energy Signed a joint venture agreement with SK E & C to establish a fuel cell joint venture and a domestic production plant with Bloom Energy
SK E & C teams up with Bloom Energy, the world’s leading producer of fuel cell system, to localize the most efficient fuel cells.
SK E & C signed a joint venture to establish a joint venture (JV) and a domestic production plant for the production and supply of Bloom Energy and Solid Oxide Fuel Cells (SOFC) at its headquarters in Kwanhun-dong, Jongno-gu.
About 30 people attended the signing ceremony, including Ahn Jae-hyun, President of SK E & C, President of KR Sridhar Bloom Energy, and Kim Jong-il, Director of the Ministry of Trade, Industry and Energy.
The two companies have been working closely together to complete the JV since last year. SK E & C has set up a business vision aiming at becoming a provider of high-efficiency distributed power supply solutions beyond the scope of simple construction that imported and installed fuel cells. To this end, it established a joint venture for domestic manufacturing and distribution by working with Bloom Energy, a leading SOFC manufacturer that boasts the highest efficiency and eco-friendliness. In addition, the direction of government policies, such as the government’s ‘hydrogen economy revitalization roadmap’ in January, also provided an important foundation for accelerating the establishment of joint ventures.
The joint venture is scheduled to be officially established in November, with SK E & C having a 49% stake in the new JV and Bloom Energy having 51%. The JV is considering a number of candidate regions to select sites for the production plant and they aim for full-scale domestic production in the first half of 2020. The production scale will start at 50MW annually and gradually expand to 400MW in the future.
This new venture, jointly invested by SK E & C and Bloom Energy, will be the world’s most efficient new renewable power generation and power generation facility. It is the best technology among the fuel cell technologies for power generation and boasts the highest level of power generation efficiency among the existing power generation technologies. It also has the advantage that it can be installed in the city with less noise, safe and high site utilization and less idle space. Since no electricity is burned, electricity is produced through electrochemical reactions, so no harmful substances are emitted. As a result, it is also expected to be a solution that can contribute to environmental improvement such as air quality improvement as a clean energy source.
An official of SK E & C said, “The domestic joint venture will be fostered as a procurement and production hub after SOFC domestic production is in full swing.” It will be a great opportunity to open the export route to parts manufacturers. ”