Doosan Enerbility : Establishes New Carbon-Free Energy Subsidiary “Doosan GeoSolution”
November 15, 2023
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Doosan Enerbility announced on November 16th that it had held a board of directors meeting at which the resolution was reached to establish a new subsidiary "Doosan GeoSolution," a company that will specialize in the development of carbon-free energy. The name "GeoSolution" was coined by combining the words "geo" meaning "earth" and "solution" to convey the company's mission to create a sustainable planet by pursuing expansion of the eco-friendly carbon-free energy business.
Doosan GeoSolution will be acting as a developer that oversees all the various stages of carbon-free energy projects like offshore wind, hydrogen energy and fuel cell projects, by handling the steps such as identifying projects to develop, investing in projects and managing the operation & maintenance. Through establishment of the new subsidiary, Doosan aims to make the early move of securing business licenses for the carbon-free energy business to ultimately strengthen its business profitability, and also secure a stable source of revenue based on the sale of electricity and dividend payouts.
"With carbon-free energy emerging as a practical solution for achieving carbon neutrality and energy security, we decided to establish this new subsidiary to effectively secure business opportunities in this field," said Bongjun Kim, Doosan Enerbility's Vice President of Plant EPC Planning, who has been leading the efforts for the subsidiary. He added, "As we own competitive homegrown carbon-free technology, such as offshore wind power, hydrogen energy and fuel cell technology, by combining this with our swift decision-making capabilities and strong expertise, we aim to step up our efforts to achieve business growth."
Doosan GeoSolution will be collaborating with its local and global partners in the power plant machinery and construction sectors to develop business opportunities in the carbon-free energy field. To further promote the business, the company will also actively seek out local and global investors in line with the company's ESG initiative and will be working together with other Doosan entities such as Doosan Fuel Cell to achieve greater business synergy.
Doosan Enerbilit Co. Ltd. published this content on 16 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 November 2023 05:44:09 UTC.
Doosan Enerbility, formerly Doosan Heavy Industries & Construction Co Ltd, is a Korea-based company principally engaged in the industrial equipment manufacture business. The Company operates its business through six segments. The Doosan Bobcat Business segment is engaged in the manufacture and sale of construction machinery and compact equipment. The Doosan Heavy Industry Business segment is engaged in the manufacture of turbines, water treatment facilities and others. The Doosan Infracore Business segment is engaged in the manufacture and sale of internal combustion engines, construction machineries, transportation equipment and parts. The Doosan Construction Business segment is engaged in the commercial and residential buildings, roads, bridges and railways construction businesses. The Doosan Fuel Cell Business segment is engaged in the manufacture and repair services of fuel cell. The Other Business segment is engaged in the operation of golf courses.
DOOSAN ENERBILITY CO., LTD. 
