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SK acquires Atom Power ofor 150 million U.S. dollars

Posted August. 19, 2022 07:51,   

Updated August. 19, 2022 07:51


SK has completed its acquisition of U.S.-based energy solution company Atom Power. With the acquisition, the energy solution and electric vehicle charging business, which help effectively produce and consume electricity, are expected to be reinforced.

SK Corporation and SK Energy announced on Thursday that they had acquired the management rights of Atom Power for 150 million U.S. dollars. SK and Atom Power held a signing ceremony for the acquisition agreement on the previous day at SK Seorin Building in Jongno-gu, Seoul. Atom Power, established in 2014, is engaged in energy solution and electric vehicle charging business with its technology of 'solid state circuit breaker,’ a circuit breaker.

Circuit breakers manufactured by Atom Power can collect power use-related data such as power usage, electric vehicle charging level, and energy storage device (ESS) charging level. Unlike a simple circuit breaker, Atom Power’s circuit breaker allows power producers to predict the appropriate amount of power generation, and consumers the price of electricity.

It can also be used for electric vehicle chargers. Unlike the conventional method that requires individual circuit breakers per charger, several small circuit breakers installed on one central panel can save installation costs, area, and management costs.

SK expects that Atom Power's technology will help build an energy solution platform. Securing a solution that analyzes and controls the information of power suppliers and consumers is considered an indispensable component in the future energy industry.

Teuk-Gyo Koo kootg@donga.com