Krios Signs IPO Underwriting Agreement with KB Securities... "First Domestic Development of Liquid Hydrogen Tank"

Crios, a specialist company in cryogenic systems, announced on the 7th that it has signed an underwriting contract with KB Securities and has begun preparations for listing with the goal of an initial public offering (IPO).

Crios, established in 2000, is a specialized manufacturer of cryogenic tanks. Its market share for domestic liquefied natural gas (LNG) satellite bases and large LNG storage tanks stands at 91% and 83%, respectively. It exclusively supplies the four privately operated LNG refueling facilities currently in operation.

Additionally, it possesses outstanding technological capabilities in ▲hydrogen, LNG, and ammonia distribution facilities ▲large-scale cryogenic liquefied gas facilities ▲eco-friendly engine fuel supply devices.

CEO Kim Daesung stated, “Based on high technological standards and reliability, we have grown into a specialized company with the best competitiveness in the industrial gas sector, including cryogenic equipment,” and emphasized, “We will prepare the necessary procedures for the IPO together with KB Securities.”

Crios will unveil the world’s third and Korea’s first liquefied hydrogen tank at H2 MEET, a hydrogen industry specialized exhibition scheduled from the 13th to the 15th. Although liquefied hydrogen transport tanks are considered essential technology for hydrogen commercialization, only two global companies currently possess this technology.

Meanwhile, according to Deloitte, a global consulting and accounting firm, the global hydrogen utilization market is expected to grow to approximately $1 trillion by 2050. In particular, the transportation sector, including hydrogen cars and ships, is expected to be the largest segment, with a market size of about $700 billion.

Furthermore, according to the Ministry of Trade, Industry and Energy’s hydrogen economy activation roadmap, Korea’s hydrogen supply is expected to reach 5.26 million tons by 2040, with the number of hydrogen refueling stations increasing to 1,200.

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