Production agreement signed with 10MW initial order
Intelligent Energy signs production agreement in Korea with initial order for 10MW of fuel cells.
Loughborough – 4th October 2022 – Intelligent Energy (IE) has signed an agreement with its local distributor and partner, Hogreen Air, to assemble IE-DRIVE™ fuel cells under licence for South Korea and other Asian countries. The contract includes an initial order for fuel cell stacks and components to assemble one hundred, 100kW IE-DRIVE HD fuel cell systems starting in 2024.
CEO, David Woolhouse and CCO, Greg Harris were in Korea on Friday (September 30th) to take part in the ground-breaking ceremony for Hogreen’s new production facility in Gwangju, South Korea. A Memorandum of Understanding (MoU) was also signed between IE, Hogreen, Gwangju Metropolitan City Government and the British Embassy in Seoul to support the development of hydrogen fuel cells and creating a hydrogen industry ecosystem.
South Korea is one of the countries driving the growth of the Hydrogen Economy and acknowledges the potential for both hydrogen and specifically fuel cell production. It is a key market for IE, with high-power fuel cells being utilised in large scale power generation, automotive and other markets, and low-power fuel cells for drones and off-grid power.
David Woolhouse, CEO at Intelligent Energy said:
‘We’ve been working with Hogreen now for 4 years, they have been outstanding partners serving customers in Korea and South-East Asia. It was a pleasure to break ground with them in Gwangju on our new manufacturing partnership.
Over the last 5 years, IE has been launching products based on technology of the previous 20 years, from sub-1kW to 200kW. Now we are focussed on increasing our capacity around the world, while maintaining our reputation for excellent service.’
Seong-ho Hong, CEO of Hogreen Air said:
‘Hogreen Air introduced a hydrogen fuel cell drone in the existing drone market through its relationship with IE, which has high expertise in hydrogen fuel cells. Since then, the system has been developed using fuel cells for mobility and small & medium-sized power generator. Based on the establishment of this manufacturing facility, Hogreen Air will introduce hydrogen fuel cells with high performance and reliability in South Korea and South-East Asia.
The international community is facing an unprecedented crisis due to global warming. Climate change, natural disasters, and food shortages are not just problems for a few countries but transnational issues. To solve these crises, Hogreen Air paid attention to eco-friendly energy called hydrogen, and together with our reliable partner, Intelligent Energy, we will create a better life and greener future through clean energy.’
About Intelligent Energy
Intelligent Energy is focused on the development and manufacture of its Proton Exchange Membrane (PEM) fuel cell products for customers in the automotive, aerospace, generator, telecoms, materials handling and unmanned aerial vehicle (UAV) sectors. The company is headquartered and manufactures in Loughborough in the UK, with additional offices and representation in the US, Japan, China and South Korea.
About Hogreen Air Co., Ltd.
Hogreen Air was established as a specialist in drone hardware and software development, being the first company in the world to successfully control drones at a distance of more than 9,000km. In 2018, they started developing a hydrogen fuel cell drone, working with Intelligent Energy, to offer long duration flight capability. They added a liquid hydrogen company to their portfolio in August 2022, bringing their liquid hydrogen technology to drones and other applications and are also developing fuel cell power and control systems for stationary power. In September 2022, Hogreen Air broke ground on their new factory in Gwangju, South Korea, and signed a production agreement with Intelligent Energy to produce hydrogen fuel cells from their new facility from 2024.