Panasia, a company specializing in eco-friendly and energy facilities, recently submitted a stock report. Listed on the KOSDAQ in October after forecasting demand on the 17th and 18th of this month.

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“We are paying attention to the hydrogen market, which is the core of the Green New Deal policy as a future growth engine. We plan to build a hydrogen extractor mass production facility and start producing it in earnest from next year.”

In an interview with Financial News on the 8th, CEO Lee Soo-tae (image), who is pursuing listing on the KOSDAQ next month, revealed his aspirations by saying that he will diversify his business after listing based on the details of recent sales improvement such as ballast water treatment equipment and scrubbers.

Lee said, “As the government aims to install 200,000 hydrogen cars and 450 hydrogen charging infrastructures by 2025, it could lead to supply shortages due to increased demand.” “Extraction technology for hydrogen production depends on foreign countries. And the domestic hydrogen extraction technology is still weak.”

He added, "The Company has already developed an LNG fuel supply system for LNG-propelled ships before entering the hydrogen business, and the basic design and basic research of the hydrogen extractor and auxiliary facilities were completed last year based on this gas ejection technology."

The product that Panasia is targeting in the hydrogen market is a hydrogen extractor that produces hydrogen through reforming natural gas. Currently, Daejeon City, Daejeon City Corporation, and Korea Carbon Capture & Sequestration R&D Center (KCRC) have signed an MOU on hydrogen production base construction. Prototype equipment and certification are planned to be completed within this year, and commercial hydrogen extractor mass production facilities are set up to begin production and sales in earnest from 2021.

Lee said, “Panacia was selected as an exemplary small company in materials, parts and equipment last year, and in line with the government's hydrogen economy business plan, it has secured high-purity hydrogen production, reduced hydrogen transportation costs, and secured cost competitiveness.” By supplying hydrogen extractors to construction sites, buildings and power plants, we aim to achieve a 30% share of the hydrogen extractor market by 2025.”

Panasia's sales in the first half of this year were 199.6 billion won, a 148.93% increase from the same period last year. During the same period, operating profit increased by 353.90% to 581.7632 million won, and net income increased by 320.72% to 46.74261 million won.

The reason for the improvement in performance in the first half of this year was the entry into force of the environmental regulations of IMO.

Since January 1, the IMO has decided to comply with the requirement for sulfur content of ship fuel to be less than 0.5%, and as a result, many ship owners have decided to install scrubbers as a solution. In addition, Lee explained that the smart factory was at the core of the driving force that has enabled Panasia to lead the global market.

He said, “In addition to smart factories, we are working in various fields to provide differentiated services to customers by incorporating Internet of Things (IoT) technology.” We plan to build a ‘Smart Ship 4.0 Service Infrastructure’ that collects real-time data in connection with technology.”