KIB PE Changes Name to KIB Energy Infrastructure Holdings... "Leap to Energy Specialized Holding Company"

KIB PE (Private Equity) is transforming into a total energy solution holding company by changing its name to 'KIB Energy Infrastructure Holdings.' In July, KIB PE acquired the KOSPI-listed company Quro and renamed it KIB Plug Energy.

On the 30th, KIB PE announced the completion of its name change to 'KIB Energy Infrastructure Holdings.' As the top-tier holding company, it plans to organize its subsidiaries to play key roles in the hydrogen and energy value chains. Additionally, it aims to expand investments related to hydrogen value chains through venture capital affiliates.

Currently, KIB PE is gradually entering the hydrogen energy business through its subsidiary KIB Plug Energy. Starting with the acquisition of Bumhan Motors in August, it has recently made strategic investments to expand hydrogen-related businesses, including investing in Ulsan Hydrogen Power Plant No.1 Corporation. The company is discussing infrastructure investments for hydrogen fuel power generation and hydrogen gas production with national policy banks and major institutional investors.

KIB Plug Energy plans to achieve approximately fourfold growth in scale by 2024 through a rapid merger and acquisition strategy in related industries. Following this, it aims to operate a 20-megawatt hydrogen fuel power plant starting in 2025, targeting sales of 1 trillion KRW over the next 20 years in this business division. The strategy includes gradually expanding the business to hydrogen fuel power generation, hydrogen gas production, hydrogen and electric vehicle charging stations, and components for hydrogen transportation.

A company representative stated, "We are steadily entering the high value-added hydrogen energy business based on our existing heat exchanger business," adding, "This name change expresses our strong commitment to the energy business that will shape our future." The representative also emphasized, "We will continue overseas hydrogen economy cooperation in collaboration with major investors from the Middle East and Saudi Arabia."

Meanwhile, KIB PE is expected to record an operating profit of approximately 30 billion KRW based on separate financial statements and about 50 billion KRW based on consolidated financial statements this year.

This content was produced with the assistance of AI translation services.