[Click eStock] "KIB Plug Energy, Value-Up Noted with Hydrogen Value Chain Expansion"

Daishin Securities analyzed on the 22nd that attention should be paid to the expansion of the hydrogen value chain regarding KIB Plug Energy. No investment opinion or target price was presented.

KIB Plug Energy is a chemical equipment specialist company primarily manufacturing and supplying heat exchangers. Heat exchangers are devices designed to efficiently exchange or transfer heat between substances and are essential chemical plant equipment used in investments in refineries, chemical plants, and other facilities.

Jangwook Park, a researcher at Daishin Securities, stated, “The company secured an order for heat exchangers for blue/green hydrogen projects from Linde in July. Heat exchangers for hydrogen projects are more expensive than those for existing projects, so benefits are expected from the expansion of green hydrogen-based hydrogen infrastructure investments.”

KIB Plug Energy recently declared its entry into the hydrogen business and is promoting eco-friendly commercial vehicle and hydrogen fuel cell businesses. In September, it acquired a 50% stake in Beomhan Motors and began supplying electric buses, aiming to sell 300 electric buses next year. From next year, the electric bus segment will be reflected in the performance as equity-method income.

Researcher Park added, “In addition, KIB Plug Energy is preparing a hydrogen fuel cell business using waste plastics in collaboration with KEPCO Engineering & Construction. The hydrogen fuel cell business plans to expand production facilities to a scale of 100MW by 2025.”

He continued, “In the short term, sales growth in the core heat exchanger business is expected due to orders for ammonia-related projects, and the current favorable market conditions in the electric bus sector also suggest steady performance growth.”

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