With this, it is expected that the funds, approximately 27 billion won ($22m), will primarily be used as capital to be invested in developing hydrogen fuel cell powered logistics cargo drones which have the potential to revolutionise the industry.
Read more: Doosan Fuel Cell makes history as the first exporter of hydrogen fuel cells in Korea

Another important note to take from this investment is the fact that it shows confidence in both Doosan’s hydrogen drone range as well as the growing hydrogen fuel cell industry.

DMI plans to spend the acquired funds on strengthening its product line-ups, enhancing global capabilities, attracting top talent, and developing the next generation water-cooled fuel cells crucial for larger and heavier mobility such as logistics drone.

DMI is also participating in a national project to develop the logistics and cargo drone with 10 to 50kg payload. The project aims to complete the commercialisation after 2025, which is the general period when logistics drones are expected to be on full-scale.

This new funding will support this project and integrate hydrogen fuel cell drones further into the green mobility space.

Doosoon Lee, the CEO of Doosan Mobility Innovation, said, “The success of this investment implies that ultra-light fuel cell market possesses high growth potential and future value.

“DMI will expand its product line-up through the development of its original technology, diversify the fuel cell mobility business by actively venturing into global market and lead the field of industrial drones.”