Invested KRW 1.6 trillion in Plug Power Inc, a hydrogen manufacturer in the US
[투데이에너지 박병인 기자] SK Co., Ltd. and SK E&S invested 1.6 trillion won in Plug Power Inc., a U.S. hydrogen manufacturer and distributor, and became an anchor in earnest to expand the hydrogen business.
SK announced that its subsidiary Plutus Capital NY, Inc. and SK E&S Americas, Inc., a subsidiary of SK E&S, will invest 1.6 trillion won in Plug Power Inc., a US hydrogen company, at a 50:50 ratio.
Plug Power Inc. of the United States, which SK invested this time, is a hydrogen manufacturing and distribution company established in 1997, and possesses key technologies related to hydrogen such as liquefied hydrogen plants, hydrogen charging stations construction, and vehicle fuel cells.
Earlier, SK has declared that it will enter the hydrogen business in earnest with its affiliate SK E&S. Since then, SK E&S was fully prepared to expand into the hydrogen business, such as appointing a new CEO Hyung-wook Choo and converting to a joint representative system.
SK Group, which took its first step in the hydrogen business with this investment, is expected to expand its hydrogen business in the future, taking the lead in its affiliate SK E&S.
It is analyzed that SK, one of the largest companies in the domestic energy industry, has established a leap forward for Korea to take the lead in the hydrogen society in the future as countries around the world are taking a strong policy to realize a hydrogen economy.
SK E&S CEO Yoo Jeong-jun said, “2021 is the first year of implementing the’Financial Story’ for SK E&S’s new leap forward, and it encompasses hydrogen, renewable energy and energy solutions based on the existing LNG value chain. “Let’s make it the first year to achieve a great transformation into’Green Portfolio’.”
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