HD Korea Shipbuilding & Offshore Engineering has acquired Finnish fuel cell company Convion for approximately €72 million (US$78 million), marking a strategic push into the growing hydrogen fuel cell market. Convion, based in Helsinki, specializes in solid oxide fuel cells (SOFC) and electrolysis cells (SOEC), technologies seen as vital for the future of clean energy due to their efficiency and versatility.
This acquisition is part of HD Korea’s broader strategy to strengthen its position in the eco-friendly energy sector. The company plans to integrate Convion’s advanced technology to enhance its capabilities in both domestic power generation and marine applications. With the global hydrogen fuel cell market projected to grow significantly—reaching 55 trillion won (US$42 billion) by 2040—the company aims to secure a competitive edge.
This move follows previous investments in the fuel cell industry, including a €45 million partnership with Elcogen AS to develop large-scale SOFC systems. HD Korea Shipbuilding’s commitment to clean energy technologies underscores its ambition to lead the future eco-friendly ship market and reduce carbon emissions globally.
