Hanwha Solutions
Hanwha Solutions is a South Korean energy and materials technology company operating four divisions—Chemical, Qcells solar, Insight real estate, and Qenergy—serving global B2B customers with petrochemicals, solar PV, and renewable energy solutions.
- Company typePublic
- Founded2017
- HeadquartersSeoul, South Korea
- Headcount5,001–10,000
- GTM typeB2B
- OfferingHardware or Manufacturing
What Hanwha Solutions does
Hanwha Solutions Corporation (한화솔루션주식회사) is a publicly traded South Korean energy and materials technology company operating through four business divisions: Chemical (케미칼), Qcells, Insight (인사이트), and Qenergy (큐에너지). Listed on KOSPI under ticker 009830 and headquartered in Seoul, the company traces its Chemical division roots to 1965 within Hanwha Group and was reconstituted in its current form in 2017 through the merger of Hanwha Chem and Hanwha General Chemical. It serves global B2B customers across petrochemicals, solar energy, renewable energy project development, and real estate.
The Chemical division produces PVC, polymer materials, the proprietary Eco-DEHCH eco-friendly plasticizer, and StrongLite GMT composites (commanding approximately 70% of the global GMT market at 40,000 metric tons/year capacity). Qcells manufactures solar PV cells and modules using proprietary Q.ANTUM technology and a world-record 28.6% efficiency perovskite-silicon tandem cell architecture developed at its R&D center in Thalheim, Germany. The company is the only fully integrated domestic solar manufacturer in North America with 8.6 GW of capacity across its Georgia facilities. Qenergy operates a 14 GW renewable energy development pipeline across seven European countries, while Insight develops renewable energy-integrated premium real estate projects.
Revenue is generated through direct B2B chemical sales to industrial customers globally, hardware sales of solar cells and modules to utilities and developers (including the new Qcells New Homes direct-to-homebuilder channel), managed services for renewable energy projects (EPC, O&M, IPP), real estate development, and high-voltage wire and cable materials following the March 2026 Wire & Cable Division launch. The company is part of Hanwha Group, with parent Hanwha Corp. holding approximately 36.3% of shares and providing full backstop on the 2026 rights offering.
Hanwha Solutions firmographics
Firmographics- Name
- Hanwha Solutions
- Legal name
- Hanwha Solutions Corporation (한화솔루션주식회사)
- Website
- https://hanwhasolutions.com
- Company type
- Public
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- Hanwha Solutions is a South Korean energy and materials technology company operating four divisions—Chemical, Qcells solar, Insight real estate, and Qenergy—serving global B2B customers with petrochemicals, solar PV, and renewable energy solutions.
- Ownership category
- akta.pro rank
Hanwha Solutions industry classification
Industry- Product category
- Solar and Petrochemical Manufacturing
- NAICS
- Electric Power Generation, Transmission and Distribution (2211)
- SIC
- Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- Energy Storage Components for Renewables Manufacturing (BESS Packs, PCS, Thermal Management) (EUAMAHAI)
- akta.pro secondary industries
- Microgrid Controllers, Energy Management & DER Orchestration (MGC, SCADA, Optimization) (EUAFAJAH), Energy & Renewables Specialty Contracting (Solar PV, Storage, EV Charging) (IMAFALAJ), C&I Renewable Supply & Green Tariffs (Bundled RE, Sleeves, Utility Green Tariffs) (EUAGACAE)
Keywords
Where Hanwha Solutions is headquartered
LocationHeadquarters
- HQ city
- Seoul
- HQ country
- South Korea
- HQ region
- Asia
Offices7 records
Markets served
Hanwha Solutions business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Technology or R&D, Infrastructure, Personnel, Marketing or Sales
Revenue model
- Chemical Division: Petrochemical products including polymer materials, PVC, plasticizers, and specialty chemicals. Established in 1965, represents Korea's petrochemical industry leadership with competitive products and global expansion.
- Qcells Solar Division: Solar cell and module manufacturing, power plant construction and operation, and power retail (downstream value chain). U.S. manufacturing expansion with $2.5 billion Solar Hub investment producing 8.6 GW total domestic capacity.
- Insight Division: Real estate development focused on Renewable Energy and Premium segments. Combines planning, development, operations, and finance value chain to create new business models and value.
- Qenergy Division: Renewable energy solutions for European customers including project development (14 GW pipeline), EPC (engineering, procurement, construction), O&M (operations and maintenance), and IPP (independent power producer) services.
- Wire & Cable Division: High-value materials for power infrastructure including high-voltage cable materials, launched in March 2026 to capitalize on grid expansion and electrification demand.
Go-to-market motion3 records
Distribution channels7 records
Marketing channels8 records
Hanwha Solutions product offering
Product offeringCore offering
Hanwha Solutions is a diversified energy and materials company operating through four main divisions: Chemical (petrochemicals, polymer materials, plasticizers, and GMT composites established in 1965), Qcells (solar PV cells, modules, power plant development, and downstream power retail), Insight (renewable energy and premium real estate development), and Qenergy (European renewable energy project development, EPC, O&M, and IPP services across 7 countries with 14 GW pipeline). It also operates a Wire & Cable Division supplying high-voltage cable materials for grid infrastructure.
Product overview
Hanwha Solutions is a diversified energy and materials technology company organized into four main business divisions: Chemical (케미칼), Qcells, Insight (인사이트), and Qenergy (큐에너지). The Chemical division, established in 1965, produces petrochemical products including eco-friendly plasticizers like Eco-DEHCH and composite materials such as StrongLite GMT. Qcells is a global solar photovoltaic total solution provider offering proprietary Q.ANTUM technology, perovskite tandem solar cells (with 28.6% world record efficiency), and comprehensive solar manufacturing from cells to modules across its US Solar Hub. The company has recently launched a Wire & Cable Division for power infrastructure. Insight develops renewable energy and premium real estate projects, while Qenergy operates European renewable energy solutions with a 14GW development pipeline spanning 7 countries. Hanwha Solutions has also partnered with Anthropic to deploy Claude AI across the organization.
Differentiator
Problem solved
Functional benefit
Brands
- Qcells New Homes: Unit supplying solar panels and battery storage directly to homebuilders in the US, initially in California, with plans for nationwide expansion and financing options for homebuyers
- Q.ANTUM
- StrongLite
- Eco-DEHCH
- MUWA
- MUWA NISEKO
- 제2용인테크노밸리 (YTV)
Products and services
- Chemical Division Petrochemicals Petrochemical products including polymer materials, PVC, plasticizers, and specialty chemicals sold to industrial B2B customers globally, with focus on sustainable and eco-friendly chemical solutions.
- StrongLite GMT (Glass Mat Reinforced Thermoplastics)
Quantifiable outcome
- 28.6% efficiency world record for perovskite-silicon tandem solar cell
- +4 more outcomes
Companies that use Hanwha Solutions
Customer profileNamed customers4 records
Segments6 records
Ideal customer profiles4 records
Hanwha Solutions technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability4 records
Feature8 records
Hanwha Solutions partnerships and signals
Strategic signalPartnerships
15 partnerships are on record, tiered core and minor.
- Qcells EPC Corporation (U.S. Subsidiary)coreHanwha Solutions' U.S. EPC subsidiary issued 300 billion won in Redeemable Convertible Preferred Stock (RCPS) to strengthen financial structure. Additional $220.3 million in Advanced Manufacturing Production Credits (AMPC) liquidated.
- AnthropiccoreHanwha Solutions is deploying Claude AI across software development, enterprise productivity, and customer service applications. Anthropic opened Seoul office and signed MOU with Korea's Ministry of Science and ICT for AI safety and cybersecurity cooperation. Thousands of Hanwha employees deploying Claude Code and other Claude products.
- Georgia Tech Research InstituteminorSelected Hanwha Qcells' perovskite-based tandem solar cells for SSTEF-1 lunar solar power demonstration project, a space technology program funded by NASA and managed by Aegis Aerospace.
- Daishin Asset ManagementminorConsortium partner for edge data center development. Acquired Hana Insurance Building in Seoul's Jongno-gu district to convert into the first downtown-type edge data center in Seoul's central business district.
- Mastern Investment ManagementminorPartnering with Edgecore PFV as project developer and Hanwha's construction division as builder for 10 MW-class edge data center in Yeongdeungpo-gu, targeted for completion in H2 2028.
- KAISTcoreJoint development of biotechnology converting glycerol (biodiesel byproduct) into 1,3-propanediol for sustainable chemical production. Research achieved industrial feasibility at 300-liter pilot scale. Published in Nature Chemical Engineering on May 12, 2026.
- Lotte ChemicalminorPetrochemical firms Lotte, Hanwha Solutions, and DL Chemical submitted plans to merge their NCC (Naphtha Cracking Center) operations in Yeosu as part of government-supported restructuring effort amid prolonged industry slump.
- DL ChemicalminorPart of three-way NCC operations merger in Yeosu with Lotte and Hanwha Solutions, targeting improved efficiency and shift to higher value-added products.
- Ampcera Inc.minorHanwha Solutions led Ampcera's $15 million Series A funding round. Ampcera produces sulfide-based solid electrolyte materials for solid-state batteries, aiming to bring average material costs below $50/kg.
- Hanwha Group (Parent)coreHanwha Group parent company with multiple subsidiaries including Hanwha Solutions. Group-level initiatives include $893 million U.S. shipbuilding investment through Hanwha Defense & Energy and Hanwha Futureproof.
- REC Silicon ASAminorLong-term polysilicon supply partnership through Binding Term Sheet for U.S. Value Chain construction. REC Silicon is a key supplier for Hanwha Qcells' U.S. solar manufacturing.
- Korea National Park ServiceminorMemorandum of Understanding for national park conservation, biodiversity enhancement, and carbon neutrality implementation. Activities include ecological monitoring, solar power installations, and energy efficiency improvements.
- Korea Gas Technology CorporationminorMOU for hydrogen industry ecosystem competitiveness enhancement in Gangwon Province, supporting green hydrogen production base development.
- U.S. HomebuilderscoreQcells New Homes division supplies solar panels and battery storage directly to homebuilders in the U.S., initially in California with nationwide expansion planned. Provides financing options to homebuyers.
- Government of South KoreacoreGovernment-supported restructuring including financial incentives, naphtha supply security measures, and 600 billion won energy transition projects from supplementary budget. Minister visits Hanwha Qcells factory to emphasize renewable energy support.
Scale indicators15 records
Recent moves6 records
Expansion highlights7 records
Hanwha Solutions competitors and assessment
Company assessmentDirect peers
- First Solar: U.S.-listed thin-film solar module manufacturer and one of the largest Western-headquartered solar producers. Directly comparable to Hanwha Qcells as a Western solar manufacturer competing for utility-scale and U.S. domestic content-driven demand.
- LONGi Green Energy Technology: World's largest silicon wafer and module producer and a leading solar cell manufacturer. Directly comparable to Qcells across the full solar value chain (wafer, cell, module) and competes globally on cost, efficiency, and scale.
- JinkoSolar: Top-tier global solar cell and module manufacturer with vertically integrated production. Closely comparable to Qcells on product offering (cells, modules, utility-scale systems), technology roadmap (TOPCon, tandem), and global project sales channels.
- LG Chem: Korea's largest chemical company and a leading petrochemical, advanced materials, and battery materials supplier. Directly comparable to Hanwha Solutions' Chemical Division on petrochemicals (PVC, plasticizers, polymers) and on advanced materials for EVs and electronics.
- Lotte Chemical: Major Korean petrochemical producer of olefins, polymers, and specialty chemicals, and a current Hanwha Solutions merger partner in the planned Yeosu NCC consolidation. Directly comparable on petrochemical product portfolio and Korean naphtha-cracking scale.
- JA Solar Technology: Top global solar cell and module manufacturer with strong PERC and TOPCon technology positions. Directly comparable to Qcells as a global cell/module competitor with significant exposure to utility-scale and downstream project markets.
- Trina Solar: Vertically integrated global solar manufacturer with leadership in both cells/modules and downstream project development. Comparable to Qcells across manufacturing and Qenergy-style downstream solar IPP and EPC operations.
- Canadian Solar: Solar module manufacturer with substantial downstream project development and energy storage businesses. Closely comparable to the combined Qcells + Qenergy profile of module manufacturing plus renewable energy project pipeline.
Broad incumbents
- SK Innovation: Korean energy and chemicals conglomerate with petrochemicals, batteries, and E&P businesses. Comparable as a diversified Korean energy/materials platform and as a battery materials competitor (relevant given Hanwha's Ampcera solid electrolyte investment).
Emerging players
- Enphase Energy: Leading global supplier of solar microinverters and home battery systems, with growing presence in residential and small commercial solar-plus-storage. Comparable to Qcells' residential 'Qcells New Homes' solar + battery offering to U.S. homebuilders.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Hanwha Solutions social profiles
Digital presenceHanwha Solutions compliance and trust
Trust signalCompliance4 records
Hanwha Solutions financial estimates
Financial estimateRevenue estimate
Valuation estimate
Hanwha Solutions leadership team
Management profileNumber of profiles
Profiles7 records
Hanwha Solutions subsidiaries and ownership
Company hierarchySubsidiaries7 records
Hanwha Solutions funding detail
Funding detailFunding overview
Funding rounds2 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Hanwha Solutions M&A and investment
M&A and investmentM&A4 records
Investments10 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Hanwha Solutions
What does Hanwha Solutions do?
Hanwha Solutions is a diversified energy and materials company operating through four main divisions: Chemical (petrochemicals, polymer materials, plasticizers, and GMT composites established in 1965), Qcells (solar PV cells, modules, power plant development, and downstream power retail), Insight (renewable energy and premium real estate development), and Qenergy (European renewable energy project development, EPC, O&M, and IPP services across 7 countries with 14 GW pipeline). It also operates a Wire & Cable Division supplying high-voltage cable materials for grid infrastructure.
Is Hanwha Solutions a public or private company?
Hanwha Solutions is a public company. It is classified as public and is currently operating.
When was Hanwha Solutions founded?
Hanwha Solutions was founded in 2017. It employs 5,001 to 10,000 people.
Where is Hanwha Solutions based?
Hanwha Solutions is headquartered in Seoul, South Korea, in the Asia region.
How does Hanwha Solutions make money?
Five revenue lines are on record. Chemical Division is the primary driver. The others are qcells Solar Division, insight Division, qenergy Division and wire & Cable Division.
Who are Hanwha Solutions's main competitors?
Direct peers on record are First Solar, LONGi Green Energy Technology, JinkoSolar, LG Chem, Lotte Chemical, JA Solar Technology, Trina Solar and Canadian Solar. SK Innovation is listed as a broad incumbent. Enphase Energy is listed as an emerging player.
Does Hanwha Solutions have an API?
No public API is recorded for Hanwha Solutions.
What industry is Hanwha Solutions in?
Hanwha Solutions's product category is Solar and Petrochemical Manufacturing. Its primary akta.pro industry code is EUAMAHAI, Energy Storage Components for Renewables Manufacturing (BESS Packs, PCS, Thermal Management), with a secondary code of EUAFAJAH, Microgrid Controllers, Energy Management & DER Orchestration (MGC, SCADA, Optimization). Its NAICS code is 2211 and its SIC code is 4991.