A new subsidiary will manage the entire process of developing and running a carbon-free energy company, including fuel cells, hydrogen energy, and offshore wind power.
– The company’s mission statement, “Expand the eco-friendly, carbon-free energy business to create a sustainable Earth,” is portrayed in the name.
On November 16th, Doosan Enerbility made an announcement about holding a board of directors meeting, during which a resolution was made to form a new subsidiary called “Doosan GeoSolution,” a business that will focus on developing carbon-free energy. Combining the terms “geo,” which means “earth,” and “solution,” the name “GeoSolution” was created to express the company’s goal of establishing a sustainable planet through the growth of the environmentally friendly, carbon-free energy industry.
As a developer, Doosan GeoSolution will manage all the different phases of carbon-free energy projects, including fuel cell, hydrogen energy, and offshore wind projects. This includes identifying projects to develop, investing in projects, and overseeing operation and maintenance. By creating the new company, Doosan hopes to get ahead of the competition in obtaining business licenses for the carbon-free energy industry, which would ultimately boost its profitability. It also hopes to build a reliable revenue stream from the sale of power and dividend payments.
“We decided to establish this new subsidiary to effectively secure business opportunities in this field as carbon-free energy is emerging as a practical solution for achieving carbon neutrality and energy security,” stated Bongjun Kim, Vice President of Plant EPC Planning at Doosan Enerbility, who has been spearheading the subsidiary’s efforts. “We aim to step up our efforts to achieve business growth,” he continued, “so we can combine our competitive homegrown carbon-free technology—like offshore wind power, hydrogen energy, and fuel cell technology—with our strong expertise and quick decision-making skills.”
Doosan GeoSolution will be working with its domestic and international partners in the construction and power plant machinery industries to create commercial prospects in the field of carbon-free energy. In keeping with its ESG strategy, the company will aggressively seek out local and international investors to further expand its business. Additionally, it will collaborate with other Doosan businesses, such Doosan Fuel Cell, to maximize commercial synergy.
