Sung Do-kyung, CEO of Vinatek, Expects "Hydrogen Fuel Cell Business to Blossom in 2025"

Energy Storage Device 'Super Capacitor' Production Specialist
"New Growth Engine Hydrogen Fuel Cell Business Is on the Verge of Blooming"

"We expect the hydrogen fuel cell business and others to fully blossom in 2025. It will be a turning point for the company’s rapid growth," said Sung Do-kyung, CEO of Vinatek, in a recent interview with Asia Economy.

Vinatek was established in 1999. After entering KONEX in 2013, it transferred to KOSDAQ in 2020. It is a specialized materials, parts, and equipment company that produces 'super capacitors,' an energy storage device. A super capacitor stores energy and supplies current instantaneously when needed.

Vinatek’s consolidated sales for the first half of this year were 26.9 billion KRW, down 28.17% compared to the same period last year. Operating profit also slightly decreased from 6.7 billion KRW to 6 billion KRW. This was due to a decline in deliveries for remote controls amid concerns over the global economic downturn.

CEO Sung did not doubt the growth potential of super capacitors. He explained that the range of applications for super capacitors is vast. Unlike secondary batteries, super capacitors play a supplementary role in power supply. They can provide higher output and have a longer lifespan compared to secondary batteries.

Because of these characteristics, super capacitors can be used to support secondary batteries. They can complement the relatively slow charging and discharging characteristics of batteries or contribute to extending their lifespan. Thanks to these advantages, their applications are gradually expanding from smart meters and remote controls to renewable energy power generation facilities and energy storage systems (ESS). They are also widely used in electric vehicles (EVs) as auxiliary power sources when the battery is insufficient.

Since last year, Vinatek has been conducting the 'MW-class High-Capacity Super Capacitor System Development and Demonstration Research Project' with Korea Electric Power Corporation (KEPCO). The core idea is to use ESS based on super capacitors in a hybrid form with batteries. CEO Sung said, "We expect some results by the end of this year," adding, "Using super capacitors in combination can extend the lifespan of ESS by 2.5 times."

The logistics sector is also promising due to the increasing demand for eco-friendly energy. Especially in logistics, where instantaneous output is required, demand is bound to increase. Vinatek is already supplying products to logistics companies. He said, "Super capacitors are suitable for moving heavy objects because of their excellent instantaneous output," and added, "We have been supplying related products to several logistics companies since this year."

Vinatek’s new growth engine is the hydrogen fuel cell sector. The company has established a system capable of integrated research and mass production of key components of hydrogen fuel cells, including the support structure, catalyst, and membrane electrode assembly (MEA). CEO Sung emphasized, "MEA accounts for 45% of the hydrogen fuel cell stack and is considered the heart of it. We are the global number one in this field."

CEO Sung said the hydrogen fuel cell sector is beginning to blossom. He stated, "Currently, we are supplying small quantities of samples, but the volume will increase next year," and expressed expectations that "sales will significantly increase in 2026."

Mass production preparations are also complete. The company built its first plant for the hydrogen fuel cell sector on a 17,600-pyeong site in Wanju. CEO Sung said, "Next year will be a time when the company changes dramatically in terms of sales and scale," and added, "Especially from 2025, the company will be on a full growth trajectory."