Gangwon Energy Secures 46 Billion KRW Orders in H1... "Approximately Double Last Year's H1 Sales"

[Asia Economy Reporter Jang Hyowon] Gangwon Energy announced on the 18th that it has signed a steam generator supply contract worth 6.7 billion KRW with SK Eco Engineering. The cumulative order amount for May reached 46.3 billion KRW, already surpassing last year’s sales (44.2 billion KRW).

Since January, Gangwon Energy has signed supply contracts including ▲a 2.7 billion KRW steam generation facility contract with Japan’s Chiyoda ▲a 18.8 billion KRW sulfur recovery unit (SRU) supply contract with the global joint venture CTEP (CTEP Japan Limited Liability Partnership) ▲and a 6.7 billion KRW steam generation facility supply contract with SK Eco Engineering.

Alongside its existing plant business, orders for the secondary battery business, which is being promoted as a new growth engine, are also expanding. In March, it secured an order worth 14.7 billion KRW for the CAM7 secondary battery powder facility package construction from EcoPro EM, a joint venture of EcoPro BM and Samsung SDI. EcoPro BM possesses the world’s largest supply capacity and productivity as a single cathode material factory, with an annual capacity of 75,000 tons, equivalent to 800,000 electric vehicles.

A company official stated, “Since early this year, Gangwon Energy has already recorded about 30 billion KRW in orders due to the favorable performance of its existing plant business,” adding, “As we are actively promoting new businesses to establish a second growth foundation, we expect to achieve visible results this year.”