Dong-A Hwasung Subsidiary Dong-A Fuel Cell Signs JV Agreement with FCMT... "Collaboration for Global Hydrogen Fuel Cell Expansion"

Dong-A Fuel Cell, a subsidiary of Dong-A Hwasung, announced on the 6th that it has signed a joint venture (JV) establishment agreement with FCMT. MEA specialized manufacturer FCMT and Dong-A Fuel Cell, which possesses stack and system technology, plan to collaborate to jointly advance into global markets including the United States, Europe, China, and Saudi Arabia.

The signing ceremony took place on the 5th at Dong-A Fuel Cell headquarters in Seongnam-si, Gyeonggi-do, attended by Lee Seong-geun, CEO of Dong-A Fuel Cell, Lee Jeong-gyu, CEO of FCMT, and other related personnel.

Since signing a memorandum of understanding (MOU) for joint development of fuel cell systems in September 2021, the two companies have shared a vision to leap beyond the domestic market and into the global mobility market, based on their collaborative capabilities and accumulated trust.

The company emphasized, “The collaboration between FCMT, which has strengths in mobility MEA, and Dong-A Hwasung Group, a global automotive parts company with long-standing experience and a broad network, will create powerful synergy in the global mobility market, which is expected to experience explosive growth not only in hydrogen vehicles but also in drones, forklifts, and more.”