DGP Signs Share Transfer Agreement with NGVI... "Becomes Largest Shareholder of Hydrogen Mobility Company"

DGP accelerates the establishment of the green hydrogen business value chain through the acquisition of shares in a hydrogen mobility company.

On the 17th, DGP announced that it signed a stock transfer agreement including management rights with NGVI, securing the status of a new major shareholder.

Once the remaining payment is completed in August, DGP will acquire 46.87% (2,821,309 shares) of NGVI’s shares, becoming the largest shareholder. Along with the payment, DGP plans to finalize the appointment of new board members through an extraordinary general meeting.

As part of building the green hydrogen business value chain, DGP decided to acquire shares in NGVI, which possesses technological capabilities related to hydrogen fuel cells and hydrogen fuel storage systems. Based on synergy effects with NGVI, they plan to continue joint management.

DGP plans to develop hydrogen plant equipment with NGVI. Especially with NGVI’s commercialization of hydrogen electric hybrid buses scheduled for next year, demand for plant construction for hydrogen vehicle charging is expected to surge.

Founded in 2000, NGVI is a company with system technology that integrates natural gas pressure vessels and their components for vehicles, and over the past 20 years has supplied modular high-pressure gas fuel storage devices to domestic automakers such as Hyundai Motor Company.

Additionally, in a hydrogen electric hybrid bus demonstration project conducted with Ulsan Metropolitan City, NGVI developed hydrogen fuel storage systems and hydrogen fuel cell systems applying excellent overseas hydrogen pressure vessels and fuel cells. Through this, it has established itself as a leading company in the global commercial vehicle clean fuel solutions sector.

A company official stated, “This contract is the first follow-up action since signing the MOU related to the green hydrogen business with NGVI in May, and we will continuously build the green hydrogen business value chain. Through joint management with NGVI, we will secure unparalleled technological capabilities in the hydrogen plant field and lead the green hydrogen market.”