[Click eStock] Iljin Hysolus, Fuel Cell and Hydrogen Tank Growth Together

Shinhan Investment Corp. announced on the 19th that it maintains a buy rating and a target price of 38,000 KRW for Iljin Hysolus. Kyuheon Choi, a researcher at Shinhan Investment Corp., stated, "Once orders from large overseas clients become visible, large-scale investments will be executed accordingly," adding, "This will act as a momentum for stock price increase and earnings growth, alleviating some doubts about growth potential."

He emphasized the need to focus on the concurrent growth of fuel cells and hydrogen tanks. This is based on the judgment that the growth of the fuel cell industry will lead to the growth of the hydrogen tank industry. He noted, "Storage of fuel used in fuel cells is a natural element," and "Since hydrogen tanks are the core within the hydrogen supply system of fuel cell power packs and powertrains, hydrogen tanks inevitably follow fuel cells just like thread follows the needle."

With the advent of the liquefied hydrogen era, there are increasing questions about whether the position of high-pressure gaseous hydrogen is becoming ambiguous. This is due to the significantly higher volumetric density of liquefied hydrogen compared to high-pressure gaseous hydrogen. Although it is reasonable in the long term for liquefied hydrogen storage tanks (hereafter LH2T) to replace high-pressure gaseous hydrogen storage tanks (hereafter CGH2T), a sudden replacement is not expected. Researcher Choi explained, "Looking first at mobility (especially vehicles), for LH2T to be installed in mobility, safety management systems and standards related to LH2T must be legislated, and dedicated refueling infrastructure must also be expanded," adding, "For this, LH2T-related technology must be further advanced." He pointed out that during the period in which these factors are resolved, CGH2T will remain the mainstream in the hydrogen storage tank industry.

Iljin Hysolus is conducting research projects related to cryogenic insulation materials for LH2T and is also internally pursuing R&D to secure LH2T technology. If the commercialization of LH2T becomes visible, it will be able to cover most equipment using hydrogen as fuel (such as fuel cells and hydrogen engines). In particular, it is expected to enable entry into power generation applications, which had been limited in terms of entry, through LH2T. He emphasized, "There is sufficient time until the transition from CGH2T to LH2T, and efforts to secure technology through R&D are ongoing," adding, "While immediate earnings are important, it is also necessary to examine whether Iljin Hysolus is adopting a business strategy aligned with the direction of industry changes it belongs to."

This content was produced with the assistance of AI translation services.