SK, SK Energy acquire US energy solution provider Atom Power

SK Inc. and SK Energy announced they have jointly acquired North Carolina-based energy solution enterprise Atom Power Inc. for $150 million.

The three companies’ executives signed an agreement on Aug. 17 in Seoul, South Korea.

SK Inc's Green Investment Center Head Kim Moo-hwan, Atom Power CEO Ryan Kennedy, SK Energy’s Solution & Platform Business Division Head Kang Dong-soo and more were in attendance.

Established in 2014, Atom Power was the first to develop solid-state circuit breakers (SSCBs), or circuit breakers controlled by power semiconductors for charging electric vehicles. 

It now employs around 60 people.

SK wants to build energy solution platforms internationally and Atom Power’s technology will be invaluable in reaching that goal.  

SK Inc.’s Kim said, “Through the acquisition of Atom Power, we will secure the core technologies for the energy solution business, and discover numerous business opportunities, including realizing our energy solution platforms.” 

Atom Power’s Kennedy said, “Our mission is to power more intelligent electrification of everything.” 

Write to Ik-Hwan Kim at lovepen@hankyung.com
Jee Abbey Lee edited this article.