In an exciting development, HD Korea Shipbuilding & Offshore Engineering Co. (HD KSOE) announced the acquisition of Finnish fuel cell specialist Convion Oy by its subsidiary, HD Hydrogen, for approximately $80 million. Convion, a Helsinki-based company founded in 2012, is renowned for its solid oxide fuel cell (SOFC) and solid oxide electrolyzer cell (SOEC) technologies, essential components in hydrogen energy production. The move by HD KSOE is strategically aimed at securing crucial technologies in the rapidly expanding hydrogen fuel cell market, which is forecasted to reach $41 billion by 2040. The International Energy Agency (IEA) and the International Renewable Energy Agency (IRENA) predict a significant surge in the hydrogen fuel cell and electrolysis market, with an estimated 30% annual growth rate. This market is anticipated to soar from $5.4 billion in 2023 to $41 billion by 2040, fueled by the integration of hydrogen fuel cells in shipping and the commercialization of electrolysis technology. HD KSOE's strategic approach involves a two-pronged strategy: HD Hydrogen will manage fuel cell operations with a focus on domestic power generation and marine applications, while Convion will spearhead core technology advancement and business expansion in Europe. A representative from HD KSOE highlighted the company's commitment to securing future energy sources, including hydrogen fuel cells, electrolysis technology, and small modular reactors, with the ultimate goal of leading the global eco-friendly ship market with cutting-edge clean energy technology.