SK Eteronics announced on October 8 that it signed a memorandum of understanding (MOU) with Marston Investment Management on October 7 to advance a fuel cell-powered data center project.
The signing ceremony took place at Marston's headquarters in Seocho-gu, Seoul, with key representatives from both companies, including Kim Hae-jung, CEO of SK Eteronics, and Park Hyung-seok, CEO of Marston Investment Management.
This agreement aims to combine SK Eteronics' expertise in fuel cell development and operation with Marston's capabilities in data center development and investment to create the country's first fuel cell-integrated hyperscale AI data center. Under the agreement, the two companies will jointly pursue an off-grid data center model that utilizes fuel cell power generation facilities to supply electricity on-site.
SK Eteronics will oversee the design, procurement, construction (EPC), and operation and maintenance of the fuel cell power supply. Marston Investment Management will handle site acquisition, permitting, development scale review and design, investment structure establishment, funding, and tenant attraction for the project.
Fuel cells are gaining attention as a power source for data centers due to their low dependence on large sites, ease of installation near power demand areas, and shorter time-to-power from design to actual operation. Notably, SK Eteronics holds the domestic supply rights for Bloom Energy's fuel cells, which are known for their high efficiency and modular structure, making them ideal for stable distributed power generation.
Previously, SK Eteronics launched commercial operations at the world's largest fuel cell power plant in Chungju and Dasowon Eco Park. Marston Investment Management has also been a pioneer in developing urban data centers in Yeongdeungpo.
This collaboration is significant as it seeks to explore new business opportunities through the synergy between the energy sector and real estate development, while also promising environmental benefits from the use of fuel cell power generation facilities. The two companies plan to further refine the business model and assess its technical and economic feasibility.
Kim Hae-jung, CEO of SK Eteronics, stated, "As fuel cells are recognized as an eco-friendly power source for data centers, we expect positive synergy from this MOU with Marston Investment Management, which has expertise in data center development and investment. We will continue to collaborate to maximize our unique capabilities and present a new business model to the market."
Meanwhile, SK Eteronics is a leading renewable energy provider in South Korea, boasting a diverse portfolio that includes fuel cells, wind power, solar energy, and energy storage systems (ESS). The company is expanding its business areas beyond renewable energy generation to include power brokerage, distributed resource management, and customized power solutions, solidifying its position as a comprehensive green energy platform.
* This article has been translated by AI.
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