[Asia Economy Reporter Oh Hyung-gil] Doosan Corporation announced on the 29th that its subsidiary Doosan Mobility Innovation (DMI) has secured an investment of 27 billion KRW and will invest in the development of hydrogen drones for logistics.
DMI issued 260,383 redeemable convertible preferred shares to IDG Capital, Korea Investment Partners, and DS Asset Management at 103,693 KRW per share.
After the capital increase, Doosan Corporation's stake in DMI will change from 100% to approximately 86.96%. With this capital increase, DMI is recognized to have a market value of about 210 billion KRW based on 100% equity.
The company evaluated the fundraising as a result of recognition of its innovative hydrogen mobility technology and future growth potential. DMI plans to use the investment to strengthen its product lineup, attract talented personnel, enhance overseas sales activities, and conduct research and development on water-cooled fuel cells.
Water-cooled fuel cells are a key component installed in large mobility for logistics and transportation. DMI is currently conducting a national project to commercialize logistics drones and cargo drones with a payload capacity of 10 to 50 kg.
Lee Doo-soon, CEO of DMI, said, "This is the result of recognition of the future value and growth potential of the ultra-light fuel cell market for mobility," adding, "We will diversify the mobility business using hydrogen fuel cells by expanding our new product lineup through in-house technology development and actively entering overseas markets, and lead the industrial drone industry."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
