Ceres Power, a British company specializing in solid oxide fuel cell (SOFC) technology, tasked Intralink with developing and implementing its Korean market strategy. The company already had a Korean partner – a major global boiler manufacturer that recognised the need for a fuel cell product – but the relationship was a difficult one and progress was slow.
Intralink set out to clearly understand the partner’s position, and ultimately advised that we engage with new partners with a greater appetite and technical capacity to develop fuel cell products. We engaged with the key stakeholders in Korea’s fuel cell industry, from opinion leaders in academia and government to commercial players such as Doosan, POSCO, LG, and SK.
After securing a large joint development agreement with a local KAIST-affiliated company, Intralink identified an opportunity with Korea’s largest fuel cell player, Doosan. Intralink worked closely with Ceres Power to successfully license its technology to Doosan in a deal worth an initial £8.5m in July 2019.