LG develops solid oxide fuel power cells -Lithium - Ion Battery Equipment

LG develops solid oxide fuel power cells -Lithium - Ion Battery Equipment

A subsidiary of LG Group is investing heavily in a U.S. R&D subsidiary to develop the fuel cell business, developing "solid oxide fuel cells," which LG says are third-generation fuel cells. It looks like LG Group is poised to continue pouring R&D dollars into new fuel cells, which it did last year and continue this year.

Industry insiders pointed out on the 20th that LG Group subsidiaries LG Electronics, LG Chem, and LGCNS recently invested $38.4 million in LGPureCellSystems, a subsidiary of LG Group America, which specializes in fuel cells. LG Electronics, LG Chem, and LGCNS invested USD 12 million, USD 21.5 million and USD 4.95 million respectively. Holding company LG Corporation did not participate in the investment. After the investment, LG Electronics, LG Chem, LG Corporation and LGCNS own 30%, 26%, 12% and 5.94% of LGPureCellSystems, respectively.(Lithium - Ion Battery Equipment)

It is reported that LGPureCellSystems is preparing to use the funds to research fuel cells. It will likely focus on "solid oxide fuel cells," which are currently under development.

Compared with existing fuel cells, solid oxide fuel cells have much higher power generation efficiency and excellent stability. It is estimated that solid oxide fuel cells will replace most of the fuel cells, which are used in buildings and power stations and have been commercialized. It is for this reason that large Korean and foreign fuel cell manufacturers are developing solid oxide fuel cells as a next-generation technology.

LG Group is also developing solid oxide fuel cells to become a leader in the field of fuel cells. LGPureCellSystems is a fuel cell research and development company established in the United States by a subsidiary of LG Group. LG has so far invested $176 million in LGPureCellSystems. After all, LGPureCellSystems is a research and development company, and LG will continue to invest until it actually develops a practical product. Why is LG willing to keep investing huge sums of money? Because it wants to enhance its strength in the field of fuel cells. LG is working hard to develop next-generation fuel cell technology to maintain leadership in the fuel cell market.

Some people predict that in 2016, LG Group invested 47.8 million US dollars in solid oxide fuel cells, and in 2017 invested 38.4 million US dollars, and research has made great progress.



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