Doosan reinvents itself as fuel cell, drone, robot producer

[Photo provided by Doosan Group]

Doosan Group under group-wide restructuring is rapidly shifting away from its focus on heavy equipment and fossil fuel and nuclear power businesses to cleaner fuel cell energy business and future technologies like drones and industrial robots to cope with the fast-changing industrial landscape.

Doosan Group announced Sunday it is spurring efforts to seek for new growth engines under leadership of Moon Hong-sung, new head of new businesses at the holding entity Doosan Corp. Moon has served as the head of value management division that oversees the group strategies since March last year.

Under the new leadership, the cash-strapped group is seeking to move its business focus fast to fuel cell, drone and industrial robot to carry out the new growth initiative led by group Chairman Park Jeong-won. Only 10 months after group-wide restructuring began upon receiving state emergency aid of 1 trillion won ($906 million) in March 2020, the group has already made some significant changes in its business portfolio in hopes for a brighter future.

Doosan Fuel Cell Co., the fuel cell business unit, has emerged as the group’s key unit under the government’s ambitious push for a hydrogen economy. Environment-friendly fuel cell used for power generation boasts 80 percent or more in generation efficiency with no emission of exhaust gases.

It drew over 1 trillion won worth orders in just three year since its inroads into the related market and is targeting to deliver 1.5 trillion won in revenue in 2023.

Doosan Mobility Innovation Co. uses the fuel cell technology for urban air vehicle (UAV) applications. The company has succeeded in producing and commercializing hydrogen fuel-cell drones for the first time in the world, capable of carrying a load of up to 5 kilograms and flying up to 120 minutes.

Doosan Robotics Co. also has been groomed to generate new growth for the traditional heavy industries conglomerate, with collaborative robot models that interact with humans to complete a common task.

Unlike other industrial robots that operate in a separate workspace, they can work alongside humans, which allows for efficient division of labor even in industries where automation is difficult.

Doosan Robotics boasts the world’s best-level collision detection technology for safe operation and has mass-produced total 10 collaborative robot models, the largest lineups among all makers. It dominates the largest market share at home, and it has Korea’s Hyundai Motor and LG Chem, German brand Continental, L’Oreal in France and Japan’s Yamaha as its key clients.

Doosan Logistics Solutions Co., the logistics automation solution provider, is also expected to enjoy a boon from the rapid growth of e-commerce and non-contact consumptions.

Doosan Heavy Industries & Construction Co., the past mainstay unit, also is putting out efforts to become a leader in eco-friendly generation with focus on gas turbines, wind and hydroelectric power. It won a 600 billion won worth combined cycle power plant project in Guam late last year and signed a memorandum of understanding for promotion of wind turbine generation with the Korea South-East Power Co. The deal to sell its key construction equipment unit Doosan Infracore will likely be inked later this month.

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