[Featured Stock] Sindogiyeon Localizes Core Equipment for Hydrogen Fuel Cells... 'EU Hydrogen Economy to Grow 70-Fold in 10 Years'

[Asia Economy Reporter Hyungsoo Park] The stock price of Sindogiyeon, a 'newcomer' in the KOSDAQ market, is rising. As hydrogen-related stocks continue their rapid surge in the domestic stock market, interest in Sindogiyeon's new business division appears to be growing.

As of 1:28 PM on the 13th, Sindogiyeon is trading at 21,050 KRW, up 4.21% from the previous trading day. Sindogiyeon was listed on the KOSDAQ market on the 6th.

Founded in 2000, Sindogiyeon is a developer of post-processing equipment for liquid crystal displays (LCD) and organic light-emitting diodes (OLED). Its main products are laminating equipment that bonds panels and various components during the post-processing stage of display panel manufacturing, and autoclave equipment that removes microbubbles.

In 2008, Sindogiyeon developed a vacuum laminator that bonds under uniform pressure in a vacuum state. The vacuum laminator has the advantage of minimizing bubble inclusion compared to roller laminators, which apply pressure to films as rollers pass over substrates. By developing the vacuum laminator, also known as a 3D laminator, Sindogiyeon secured advanced technology ahead of competitors and strengthened its competitiveness.

Leveraging its core technology, Sindogiyeon plans to expand its business into the hydrogen fuel cell equipment sector. In the hydrogen fuel cell field, Sindogiyeon developed membrane electrode assembly (MEA) bonding equipment that moves hydrogen ions. The MEA is a key component in hydrogen fuel cells that produces electricity by moving hydrogen ions. In 2009, Sindogiyeon became the first in the world to develop and supply customers with a vacuum press that bonds MEAs using vacuum and heat. After 10 years of research and development (R&D), the company succeeded in developing the 'Vacuum Press' brand for hydrogen vehicle equipment. The Vacuum Press pilot equipment was first delivered to Hyundai Motor Company in April 2018. Sindogiyeon plans to strengthen its related business division in line with the growth of the hydrogen fuel cell market.

Since January this year, Sindogiyeon has been actively developing a mass production automation system to maximize the efficiency of hydrogen vehicle fuel cell processes in collaboration with the Ministry of SMEs and Startups. Part of the funds raised through the public offering will be used for R&D investment in hydrogen vehicle technology.

Earlier, the European Union (EU) announced a hydrogen promotion strategy to expand the hydrogen market size from the existing 2 billion euros (2.72 trillion KRW) to 140 billion euros (190.4 trillion KRW), about 70 times larger. Starting with public transportation such as buses and subways, the plan is to scale up economies and use this as a stepping stone to transition to a hydrogen energy era. As large-scale initial investments are expected to expand the market, which is the core of the hydrogen promotion strategy, expectations for the growth of Sindogiyeon's hydrogen fuel cell equipment division are also increasing.