Doosan's Strategic Merger to Strengthen Hydrogen Business Growth
Key Ideas
  • Doosan Corporation acquires Doosan Fuel Cell Power from Doosan Mobility Innovation to bolster the hydrogen business and enhance financial stability.
  • Both companies focus on polymer electrolyte membrane fuel cell (PEMFC) technology for hydrogen fuel cells, ensuring management efficiency.
  • Doosan Fuel Cell Power, with leading market share, generates substantial revenue and is known for its high-efficiency pure hydrogen systems.
  • DMI, despite initial struggles, aims to leverage the merger to improve financial health, enhance core technologies, and expand into new mobility sectors.
Doosan Corporation made a strategic announcement to acquire the business of Doosan Fuel Cell Power from Doosan Mobility Innovation (DMI) with the intent to fortify the hydrogen business sector. The decision came as a measure to rescue DMI from financial decline and to enhance the competitive edge of the hydrogen-focused companies. Both Doosan Fuel Cell Power and DMI operate in the polymer electrolyte membrane fuel cell (PEMFC) technology realm, and this synergy is expected to streamline management processes. Doosan Fuel Cell Power, existing since 2003, holds a dominant position in the domestic market for hydrogen fuel cells and has demonstrated technological prowess with its 'H2 PEMFC' systems. On the other hand, DMI, established in 2017, faced challenges, with sales figures significantly lower than anticipated. The acquisition by Doosan Corporation will enable DMI to overcome financial hurdles, strengthen core technologies, and expand its workforce for research and development. Notably, DMI plans to extend its reach beyond hydrogen drones into sectors like construction machinery and mobile charging equipment. This strategic move is poised to elevate the hydrogen business landscape and foster innovation within the industry.
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