[Asia Economy Reporter Kim Hyewon] Doosan Fuel Cell is embarking on the development of a 'Korean-style high-efficiency power generation solid oxide fuel cell (SOFC)'.
The core goal is to localize the key SOFC components, cells and stacks, and to mass-produce the Korean-style SOFC system domestically starting in 2024.
Having secured fundamental technologies for polymer electrolyte membrane fuel cells (PEMFC) and phosphoric acid fuel cells (PAFC), Doosan Fuel Cell is expanding its fuel cell portfolio to include SOFC, regarded as the third-generation fuel cell.
On the 19th, Doosan Fuel Cell held a board meeting and announced the approval of investment plans for Korean-style SOFC production facilities. They plan to invest 72.4 billion KRW by the end of 2023 to establish manufacturing lines for power generation SOFC cells and stacks, as well as an assembly line for SOFC systems.
On the same day, Doosan Fuel Cell signed a technology agreement with Ceres Power, a UK-based SOFC technology company, to develop SOFC technology. Under this agreement, Doosan Fuel Cell will collaborate with Ceres Power on mass production technology and production facility development for the core SOFC components, cells and stacks, used in power generation.
SOFCs operate at high temperatures above 800℃ and are among the fuel cell power generation systems with high electrical efficiency compared to other fuel cell types. Due to their high electrical efficiency, they are preferred in power generation environments where only electricity is needed, excluding heat. Doosan Fuel Cell plans to develop an SOFC that operates at a lower temperature of approximately 620℃?about 200℃ lower than existing models?while achieving higher electrical efficiency and improved expected lifespan.
Yoo Soo-kyung, CEO of Doosan Fuel Cell, stated, "By developing a Korean-style high-efficiency SOFC, we will diversify our fuel cell portfolio including PEMFC, PAFC, and SOFC, and respond flexibly to customer and market demands. We aim to lead the establishment of a global hydrogen society by providing eco-friendly energy solutions."
Earlier last month, Doosan Fuel Cell announced a paid-in capital increase worth 342 billion KRW to expand hydrogen fuel cell production lines in response to market growth. Through this capital increase, they plan to increase the production capacity of their Iksan plant from the current 63MW to 260MW?more than four times?while also advancing research and development related to Korean-style high-efficiency SOFC technology development and localization, building manufacturing facilities, and pursuing new business ventures and application development linked to the hydrogen industry.
According to Doosan Fuel Cell's own analysis, as domestic Green New Deal policies and hydrogen economy policies of major global countries become more concrete, the hydrogen fuel cell market size in 2023 is expected to nearly double from the existing 300MW to 580MW. Recently, Doosan Fuel Cell raised its 2023 sales target by 50%, from 1 trillion KRW to 1.5 trillion KRW.
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