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Posted : 2021-03-07 12:51
Updated : 2021-03-07 18:36
S-Oil President Ryu Yul, left, poses with Fuel Cell Innovations CEO Lee Tae-won during an investment agreement signing ceremony at the refiner s headquarters in Mapo-gu, Seoul, Friday. Courtesy of S-Oil
By Nam Hyun-woo
S-Oil is seeking to diversify its energy mix by acquiring a 20-percent stake in a Korean-Saudi Arabian fuel cell company.
The refiner said Sunday that it signed an agreement with Fuel Cell Innovations (FCI) at a ceremony in Seoul on Friday.
FCI is a joint venture between Korea and Saudi Arabia and has more than 40 patents focusing on solid oxide fuel cell systems. FCI has forged partnerships with a number of fuel cell companies, including a joint development project with Italy s SOLIDpower which specializes in fuel cell systems for residential and commercial buildings, S-Oil said. ....

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