Seojin Systems announced on the 17th that its subsidiary, Texon, signed a contract worth approximately 70 billion won with a global hydrogen fuel cell company to supply solid oxide fuel cell (SOFC) module equipment. The equipment is scheduled to be supplied starting in 2026.
This order was awarded after approximately four years of research and development and technical verification, and final product approval. The supply volume is 50 billion won for the US market and 20 billion won for the domestic market, with gradual expansion expected in the future.
The company recently signed a contract with a global big tech company to supply power to an AI data center, more than doubling its production capacity. According to the company, the customer's backlog is worth approximately $12.1 billion (approximately 16 trillion won), and the possibility of additional orders for Texon is being discussed.
SOFC is a fuel cell technology boasting high efficiency and environmental friendliness. The related market is rapidly growing amidst the global decarbonization trend. Demand for related equipment is also expanding, driven in particular by the continued growth of power demand sources such as AI data centers.
Seojin Systems has grown based on its existing business in energy storage systems (ESS). Recently, it has been expanding its portfolio into new businesses such as semiconductors and fuel cells, centered around its subsidiary, Texon. In this regard, Texon recently secured a 50 billion won order for process equipment modules from a global semiconductor equipment manufacturer.
A Seojin Systems official said, “We are strengthening our related equipment business in response to the expansion of AI infrastructure and the growing demand for clean energy,” adding, “The SOFC equipment market is expected to grow in the future, and we believe that continued supply expansion is possible.”
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