[Infostock Daily=Reporter Lee Ji-sun] S-Oil has entered the hydrogen business by investing in hydrogen fuel cell companies.
S-Oil announced on the 7th that the company obtained a 20% stake in FCI, a hydrogen fuel cell company, and became the largest shareholder in Korea. FCI, headquartered in Daejeon, is a joint venture between Korea and Saudi Arabia and holds about 40 patents related to fuel cells.
FCI plans to build a hydrogen fuel cell production facility with a capacity of 100 megawatts by investing up to 100 billion won by 2027.
S-Oil will establish a strategic partnership with FCI and promote the hydrogen business.
Reporter Lee Ji-sun stockmk2020@gmail.com
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