Doosan Fuel Cell's board approves investment in solid oxide fuel cell facilities

Lim Chang-won Reporter() | Posted : October 19, 2020, 16:34 | Updated : October 19, 2020, 16:34

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SEOUL -- The board of Doosan Fuel Cell approved investment in the construction of solid oxide fuel cell facilities for power generation. The company aims to mass-produce solid oxide fuel cell systems from 2024.

A solid oxide fuel (SOFC) system is an electrochemical conversion device that produces electricity directly from oxidizing fuel. It has a wide variety of applications as it ensures high combined heat and power efficiency, long-term stability, fuel flexibility, low emissions and relatively low cost. There are many types of fuel cells, but experts have considered SOFC to hold the greatest potential.

Doosan Fuel Cell, a unit of South Korea's Doosan Group, would invest some 72.4 billion won ($63 million) by the end of 2023 to build a SOFC manufacturing line. CEO Yoo Soo-kyung said his company would diversify its fuel cell portfolio to respond flexibly to the needs of customers. In July 2019, Doosan partnered with Ceres Power of Britain to develop a SOFC power system for commercial buildings.

South Korea is investing heavily to utilize hydrogen fuel cells as a new power source. In September 2019, SK Engineering & Construction, a unit of South Korea's SK Group, signed a joint venture agreement with Bloom Energy to develop and produce SOFC. In June, Samsung Heavy Industries partnered with Bloom Energy, an American public company, to develop core technologies for highly efficient solid oxide fuel cells for ships by 2022.

 
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