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Doosan promotes sale of household hydrogen fuel cell business

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Doosan Group is preparing to sell its residential fuel cell business.

In recent years, Doosan Group has attempted to rebalance its portfolio around new businesses such as semiconductors and fuel cells for hydrogen mobility by restructuring its non-main power business.

The Investment Bank(IB)Industry reported on September 9 that DOOSAN Co., Ltd. recently announced that it is conducting a demand survey for the sale of hydrogen fuel cells for buildings and homes through a foreign advisory firm. It is believed to be the preliminary phase of identifying contenders’ intents to take over prior to submitting a formal offer.

Currently, Doosan Group operates a hydrogen fuel cell business that is dispersed among a number of subsidiaries. The Fuel Cell Power BU of Doosan, which is up for sale, is responsible for the development of batteries for residential and commercial applications. Doosan Group got fuel cell-related source technology by acquiring Fuel Cell Power, a fuel cell company for homes and small to medium-sized buildings founded in 2001, for KRW 40 billion in 2014. At the time of the acquisition, Fuel Cell Power held an 80 percent share of the domestic home fuel cell market, with 17 billion won in yearly sales and 3.7 billion won in operational profits. In the previous year, the division’s sales exceeded 30 billion won. Doosan Pure Cell and Doosan Mobility Innovation are responsible for drone batteries and power generating batteries, respectively.

The Doosan Group, which lost its flagship company as a result of its decalcification and decalcification policy, has designated its hydrogen business as one of its future food products. Doosan Infracore and Doosan Solus were sold to Alja exhaust affiliates, but the hydrogen fuel cell business did not sell until the very end. In recent years, however, the portfolio has been restructured around innovative industries such as semiconductors, co-operation robots, and susodrons, and the non-core business has been arranged with audacity.

Nedim Husomanovic

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