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23 Nov Doosan Fuel Cell Teams Up with China’s ZKRG to Establish Hydrogen Fuel Cell Joint Venture
Doosan Fuel Cell Co Ltd [336260:KS], a green fuel cell developer subsidiary of Korean conglomerate Doosan Group [DDSGRZ:KS], signed a contract worth KRW346.9bn (USD255m) with China’s ZKRG Smart Energy Technology to set up a hydrogen fuel cell joint venture and supply hydrogen energy cells to China, as reported by the Korea Economic Daily on November 21. The joint venture will carry out localized production of fuel cell cogeneration equipment in Nanhai, Foshan, with a production capacity of 60 megawatts (MW) per year in the first phase. In addition, the two firms will launch a pilot project to supply hydrogen fuel cells to zero-carbon hospitals in Guangdong province. Doosan Fuel Cell also agrees to supply hydrogen fuel cells with a combined capacity of 105 MW to ZKRG by 2026.
Doosan Fuel Cell has partnered with ZKRG since 2017, with a previous partnership to supply its proprietary Doosan PureCell Model 400 fuel cells to build distributed energy systems in Foshan. The Doosan fuel cells were used as a distributed power source that can generate electricity and heat at the same time. The firm aims to further scale its business in China through this recent partnership with ZKRG.