[Click e-Stock] "Hanjung NCS Expected to Emerge as a Global Player"

On November 27, KB Securities expressed expectations that Hanjung NCS will emerge as a leading global provider of water-cooled cooling systems for energy storage systems (ESS).

Im Sang-guk, a researcher at KB Securities, stated, "Hanjung NCS is the exclusive supplier of water-cooled cooling systems for Samsung SDI's ESS battery, the 'Samsung Battery Box' (SBB)," adding, "Samsung SDI began applying water-cooled systems starting with the SBB 1.0 product."

He continued, "Going forward, all ESS for power applications are expected to adopt water-cooled systems," and added, "Samsung SDI's ESS production capacity is projected to expand from 7GWh at the end of last year to 31GWh by the end of next year." He emphasized that "the expansion and growth of Samsung SDI will directly translate into improved performance for Hanjung NCS."

Researcher Im introduced, "Hanjung NCS has secured core technological capabilities for water-cooled ESS cooling systems and has succeeded in commercializing them for the first time in Korea," and noted that the company "possesses a core product line for water-cooled ESS cooling systems." He predicted, "Given the advantages of water-cooled systems such as improved ESS power density, easier temperature management, and shorter charge/discharge times, as well as the relationships with China and North America, Hanjung NCS has the potential to become a global player in water-cooled ESS cooling systems."

Im also explained, "The North American ESS market is expected to grow at an average annual rate of 13%, from 55GWh in 2023 to 233GWh by 2035," adding, "The main drivers of ESS growth in North America are the expansion of renewable energy and the aging of power infrastructure."