- CEO
- Doosoon Lee
- Full Time Employees
- 709
- Sector
- Electronic technology
- Industry
- Electronic production equipment
- Address
- 100, Seogam-ro 7-gil Iksan-si NJ South Korea 4563
- IPO Date
- Oct 18, 2019
- Business
- Doosan Fuel Cell Co., Ltd. develops, manufactures and supplies phosphoric acid fuel cell (PAFC) systems for stationary power generation, along with solid oxide fuel cell (SOFC) and proton exchange membrane fuel cell (PEMFC) technologies for distributed power, maritime and mobility applications; core products include the 400 NG natural gas-fueled PAFC model, M400 hydrogen energy solution, biogas-compatible hydrogen fuel cell models and Ceres Power-licensed SOFC stacks and systems with 50MW annual mass production capacity at its Gunsan factory, complemented by long-term maintenance services for fuel cell power plants. Doosan Fuel Cell America (HyAxiom), its US subsidiary, focuses on hydrogen fuel cells for utility, industrial and commercial customers. The company, founded in 2019 and headquartered in Iksan-si, South Korea, operates primarily in South Korea with global reach through partnerships in the US, UK, China and maritime sectors. Recent developments include the July 2025 start of SOFC mass production targeting data centers and commercial power; a September 2025 20-year, 411.8 billion won ($308 million) long-term service agreement with Ulsan Eneroot No. 2 Corporation for a hydrogen fuel cell plant; a December 2024 merger integrating its PEMFC and SOFC businesses into Doosan Mobility Innovation via a 134 billion won capital increase; partnerships with Ceres Power for SOFC, Alleima for components, Korea Western Power for biogas models, Korea Hydro & Nuclear Power for carbon capture technology, HD Hydrogen and HD Hyundai Infracore for distributed power, Samchully for domestic SOFC expansion and Ballard Power Systems for PEM mobility; a March 2025 hydrogen drone demonstration with SoCalGas; and April 2025 termination of three PAFC contracts worth $560 million due to project delays.