KIB Plug Energy CEO Heo Seong-ho Buys Additional 12,700 Shares on Market... "Confidence in Growth"

Heat exchanger specialist KIB Plug Energy announced on the 15th that CEO Heo Seong-ho has additionally purchased 12,700 shares of the company's stock on the open market.

With this additional purchase, CEO Heo's total holdings increased to 55,700 shares. The acquisition price was 764 KRW per share. The company explained that the continuous stock purchases on the open market demonstrate confidence in the company's growth in scale and profitability.

In July, Heo was newly appointed as CEO of KIB Plug Energy. He previously served as CFO of Aju Autolease, Aju Capital, and Mason Capital. Leveraging his extensive business experience and expertise in energy-related equipment, he is leading the business restructuring and strategic growth of KIB Plug Energy.

KIB Plug Energy is reorganizing its business divisions into ▲energy equipment ▲energy production ▲energy commercial sectors by utilizing technology related to energy machinery. The company is promoting vertical integration of the supply chain for a "green energy total package." Plans also include entering the renewable energy market using hydrogen production from waste plastics and hydrogen fuel cells.

The company aims to start operating a 20-megawatt (MW) hydrogen fuel power plant in 2025 and achieve sales of 1 trillion KRW over the next 20 years in this business division. Additionally, it plans to achieve external growth through mergers and acquisitions in related industries.

A KIB Plug Energy representative stated, "We will focus on aggressively expanding orders and enhancing corporate value through stable business expansion."

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