Vinatech said on Friday that it will spend 86 billion won to build a new factory to manufacture supercapacitors and membrane electrode assembly (MEA) at Wanju, South Korea.
The new factory will be built on 58,494 meter-square of land at the second industrial zone at Wanju.
Supercapacitors stores electricity and supplies them when power supply is cut or unstable. It is used in black boxes and navigation systems in automobiles.
It has one hundredth of the energy density of a lithium-ion battery but can have 100 times the short-term output.
Vinatech will also manufacture components for hydrogen fuel cell such as MEA, support and catalyst. The company has a vertical integrated system from components used in hydrogen fuel cell.
Vinatech was founded in 1999 and is based at Jeonju, North Jeolla Province. It listed on KOSDAQ in September last year. It has 183 patents in South Korea and nine abroad.