FCI is focused on developing and commercializing fuel cell and electrolyzer technology for clean energy production. Fuel cells and electrolyzers are both important technologies for the production of hydrogen, which is a clean and versatile energy carrier that can be used to power a variety of applications, including transportation, electricity generation, and industrial processes. FCI is a global company that provides innovative energy solutions for a sustainable, low-carbon society. FCI is a JV between Korea and Saudi Arabia to promote energy industries for ‘Hydrogen Economy’ in Korea and ‘Circular Carbon Economy’ in Saudi Arabia.
FCI is providing clean energy solutions based on high-temperature fuel cells such as SOFC and MCFC and elcetrolyzer (SOE) technology. We are commercializing cost-effective, large-scale fuel cell and electrolyzer products by utilizing our core technology and advanced system engineering technology.
What’s your objective in CES 2023?
We decided to participate in this event after receiving CES exhibition information from S-OIL, which is an investment company for FCI.
SOFC, our main product, can function as an eco-friendly power source that can be directly installed and operated in places where power is needed, including homes, buildings, and data centers. Therefore, it can be said that the product’s usage is high in large cities such as Seoul.
I n particular, as Seoul is a leading local government that promotes the supply of eco-friendly energy sources, it is a promotional opportunity for FCI to visually convey the use value of the product and maximize the utility value by expressing the supply of our fuel cell products throughout Seoul.
What is FCI product?
FCI has developed an optimized, high-efficiency micro fuel cell cogeneration system that can produce both electricity and heat for use in homes, businesses, public buildings, and smart farms. The company’s current commercial product, RevGEN 1.5, has a capacity of 1.5 kW and is suitable for installation in homes and buildings. It has a power generation efficiency of around 55% and a total system efficiency, including heat recovery, of over 95%. This product is able to adjust its power generation output and heat supply based on demand. FCI also offers specialized products for hybrid power generation with other sources, making their fuel cell systems widely applicable in the domestic and international building fuel cell market.
To showcase the potential of this clean energy system, FCI has created a video using 3D modeling to depict its application and use in a city. The video illustrates the installation of FCI fuel cell systems in the city to generate and supply electricity and heat, and also introduces the concept of a virtual power plant (VVP) in which fuel cells located in the city center are operated in an integrated manner. Through this integrated operation, it is possible to achieve energy independence in the city center by efficiently producing and consuming the generated electricity within the district. Additionally, the video portrays a society where excess electricity can be sold to other areas, generating additional revenue while promoting rational coexistence. FCI hopes to use this video to provide visitors with an easier understanding of their fuel cell system and to offer a glimpse of a clean, sustainable future city.
How’s your sales performance and milestones?
Our product sales performance is expected to begin in earnest from 2023, and we have secured the following large captive markets.
– Overseas: 150MW conditional purchase contract signed with Saudi Taqnia Energy
– Domestic: 363MW domestic purchase intention letter with S-OIL and a number of fuel cell power plants.
- November 2022, “Patent Merit Award” at the “International Hydrogen Energy Forum”
- October 2022, KGS certification for 1.5kW SOFC system
- May 2022, selected as a preliminary hydrogen specialized company support project by Pohang City
- November 2021, the “Minister of Small and Medium Venture Enterprises Award” at the “Korea Small and Medium Enterprises Innovation Awards”
Any new product/service in future?
FCI plans to continue research and development to expand our commercially available product lineup. We are focusing on research and development to launch 45kw,240kW fuel cell(SOFC) products that can be used for medium-to-large buildings, data centers, and power generation in 2024. In addition, in preparation for the future increase in demand for eco-friendly ships, we are promoting the development of systems that can utilize our products as ship power. Meanwhile, as the demand for eco-friendly hydrogen is expected to increase rapidly in the future, we are also promoting the development of water electrolysis facility technology that can produce blue hydrogen/green hydrogen.
From 2023, FCI plans to expand our business scope beyond Korea to the Middle East, the United States, and Europe, and to develop customized products that can supply our system to the overseas with local partners. Through opportunities such as CES, we aim to continuously promote our technology and business capabilities, and FCI plans to continuously expand our global partnership.