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SK Innovation Swings to Red in Q2 on Falling Oil Prices

SK Innovation Swings to Red in Q2 on Falling Oil Prices

SEOUL, July 28 (Korea Bizwire) — SK Innovation Co. said Friday it turned to the red in the second quarter as falling oil prices and thinner margins hurt its profitability. The company logged an operating loss of 106.8 billion won (US$83.2 million) in the April-June period, compared with the 2.32 trillion-won operating profit a year [...]

SK Innovation Q1 Profit Drops 77 pct; Paints Rosy Picture for Battery Biz

SK Innovation Q1 Profit Drops 77 pct; Paints Rosy Picture for Battery Biz

SEOUL, May 4 (Korea Bizwire) — SK Innovation Co. reported Thursday a 77.3 percent on-year drop in the first-quarter operating profit due mainly to falling oil prices, while forecasting improvement in profitability for its loss-making battery unit after the second quarter upon U.S. tax benefits. Operating income came to 374.9 billion won (US$283.2 million) for [...]

SK Innovation Makes Additional US$50 mln Investment in U.S. Clean Energy Startup

SK Innovation Makes Additional US$50 mln Investment in U.S. Clean Energy Startup

SEOUL, March 23 (Korea Bizwire) — SK Innovation Co., a major South Korean energy company, said Thursday it has invested an additional US$50 million in Amogy Inc., a U.S. developer of an ammonia-based fuel cell platform, expanding the investment in sustainable fuels. SK Innovation took part in the latest $139 million Series B-1 funding round [...]

U.S. Clean Energy Startup Tests Ammonia-based Fuel Cell System on Semitruck

U.S. Clean Energy Startup Tests Ammonia-based Fuel Cell System on Semitruck

SEOUL, Jan. 18 (Korea Bizwire) — Amogy Inc., a U.S. clean energy startup backed by South Korea’s SK Innovation Co., has successfully carried out a test-drive of a semitruck running on its ammonia-based fuel cell platform, in a scale-up of demonstrations for the next alternative renewable fuel. Amogy tested a modified 2018 Freightliner Cascadia powered [...]

SK Innovation to Show Off Battery, Plastic Recycling Technologies at CES

SK Innovation to Show Off Battery, Plastic Recycling Technologies at CES

SEOUL, Dec. 20 (Korea Bizwire) — SK Innovation Co. said Tuesday it will showcase products and technologies featuring its green innovation in secondary batteries, plastic waste recycling and other advanced components at a U.S. tech show next month. The energy unit of South Korea’s SK Group is among the eight SK affiliates that will be [...]

SK Innovation Introduces New Robots for Facility Checks at Petrochemical Complex

SK Innovation Introduces New Robots for Facility Checks at Petrochemical Complex

SEOUL, Oct. 21 (Korea Bizwire) — SK Innovation Co., South Korea’s largest oil refinery, said Thursday it will introduce cutting-edge robots at the Ulsan industrial complex, or Ulsan CLX, the company’s flagship refining factory site in the southeastern port city. The new robots at Ulsan CLX include a four-legged walking robot called SPOT as well [...]