This new factory will be based in Wanju, South Korea, located nearby to VINATech’s main Super Capacitor and R&D Centre in Jeon-Ju.
The latest site will be producing Fuel Cell materials for the fast growing Mobile and Stationary Markets which are considered the premier methods to solving the Global Net Zero carbon emissions targets.
Demands for Hydrogen Fuel Cell technology is ramping at a significant rate to meet the Global demands. VINATech have been developing their patented carbon based materials since 2002 and following a positive IPO on the KOSADQ stock market in Q3 have already committed to the acquisition of allied Fuel Cell market companies enabling a flexible partnership to emerging Fuel Cell businesses.
This $80 million investment will enable VINATech to meet its ambitious growth plans with the very latest smart factory processes and patented technology over the next 10 years. The Factory will eventually employ over 200 staff. Completion is expected by the end of 2022.