Doosan Mobility Innovation (Doosan Innovation or DMI) announced on the 29th that it will receive 27 billion won (about 150 million yuan) from IDG Capital, Korea Investment Partners and DS Asset Management. The funds will be used to develop high-power water-cooled hydrogen fuel cell systems. And heavy-duty hydrogen-powered logistics drones.
To attract this investment, Doosan Innovation issued 260,383 redeemable convertible preferred shares (RCPS) at a price of 103,693 won per share. After the capital increase, Doosan Group's shareholding in Doosan Innovation will change from 100% to about 86.96%. Therefore, Doosan Innovation was recognized with a market value of about KRW 210 billion with a 100% stake.
Doosan Innovation CEO Lee Doo-soon said, "This investment is the result of a recognition of the future value and growth potential of the ultra-lightweight hydrogen fuel cell mobility market. We will diversify our mobility business through lightweight hydrogen fuel cell technology.
Doosan Group is a leading company in energy and heavy industry in Korea, leading the large-scale distributed hydrogen fuel power generation technology and ultra-lightweight hydrogen fuel cell technology in Korea and around the world. At present, Doosan's innovative products have been successfully applied to a variety of multi-rotor drones and vertical Take off and land fixed-wing drones, helicopters, robots and other scenarios. It has been widely recognized by customers in Korea, China, the United States, and Australia and Europe.
