Doosan Fuel Cell to invest 72 billion won in solid oxide fuel cell production facility

South Korean fuel cell maker Doosan Fuel Cell Co. will invest 72.4 billion won in building a cutting-edge 50MW mass manufacturing facility with UK's Ceres Power to produce solid oxide fuel cells (SOFCs) stacks beginning 2024.

The contract also gives Doosan a global non-exclusive license to manufacture Ceres Power’s solid oxide fuel cell stacks.

It also includes technology transfer, joint development, and a royalty agreement.

The fuel cell stacks to be manufactured by Doosan will initially meet its demand for combined heat and power and its product line.

Manufacturing is expected to expand in meeting the global demand for Ceres Power’s stacks in multiple applications.

Doosan Fuel Cell also plans to expand the production line at the hydrogen fuel cell plant in Iksan from 63 megawatts to 260 megawatts.

Doosan Fuel Cell revised up its sales target to 1.5 trillion won in 2023 from 1 trillion won.