GFI (CEO Sang-Seop Lee), a next-generation smart safety system specialist, submitted a securities report to the Financial Services Commission on the 17th for a merger listing (SPAC termination) with Daishin Balance No. 18 SPAC (478780).
With the recent expansion of data centers and electric vehicle charging infrastructure, the adoption of energy storage systems (ESS) is increasing, leading to strengthened safety regulations for ESS. ESS, which integrates large-scale lithium-ion batteries, are highly susceptible to explosive catastrophic fires in the event of a fire, making it essential to secure safety technologies.
GFI provides ESS fire prevention solutions using proprietary micro-capsule technology. These micro-capsules, manufactured in a fine powder form, automatically release a fire extinguishing agent when the temperature rises abnormally during a fire outbreak, extinguishing the initial fire. This solution differentiates itself from other fire prevention solutions by responding immediately at the moment of a fire outbreak, preventing its initial occurrence.
Using this technology, we have developed a direct injection system that sprays extinguishing agents directly onto battery cells and modules in the event of an ESS fire. This system is now being supplied to major secondary battery manufacturers. Demand is also growing in industries with high fire vulnerability, such as data centers, electric vehicle batteries, semiconductor processing facilities, and logistics warehouses, beyond ESS.
As industries requiring large-scale power expand and demand for safety solutions grows, GFI is also achieving profitability based on its stable financial structure. GFI announced that it will record annual sales of KRW 18 billion in 2023, KRW 24.2 billion in 2024, and expects annual sales of approximately KRW 30 billion in 2025. Since successfully turning a profit in 2018, GFI has maintained an operating profit margin of approximately 20% annually.
A GFI official said, “In the global market, safety is considered the biggest key to expanding the use of ESS,” and “As our unrivaled technology and product capabilities are recognized in the industry and are rapidly expanding, we expect to maintain stable growth in the future.”
He added, "Beyond the ESS industry, our products can be applied in all areas where electricity is used. By expanding our industrial base and entering the global market, we will leap forward as a leading global energy safety solutions company."
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