Doosan Corporation wins its first fuel cell supply contract

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Doosan Corporation wins its first fuel cell supply contract

Doosan Corporation announced on Tuesday that it has won its first supply contract after the launch of its fuel cell business, which the company’s chairman, Park Yong-mann, considers to be a new growth engine.

The company said it won the bid to supply fuel cells for use in constructing a power thermal plant in Bundang, southern Gyeonggi. The contract is worth 28 billion won ($25.2 million).

Along with the contract, the company will also make a long-term service agreement worth 40 billion won to manage the fuel cell operation with the plant builder, Korea South-East Power Corporation.

Doosan will supply 5.6 megawatts for the project in total. The company said it aims to expand its business in the international fuel cell market, which is expected to increase up to 18 trillion won by 2023.

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