Hanwha Solutions

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.

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

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

• Petrochemical products
• Solar photovoltaic manufacturing
• Renewable energy solutions
• Advanced composite materials
• Power infrastructure materials

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Technology or R&D, Infrastructure, Personnel, Marketing or Sales

Revenue model

1. 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.
2. 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.
3. 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.
4. 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.
5. 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

Core 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

Named customers4 records

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature8 records

Partnerships

15 partnerships are on record, tiered core and minor.

• Qcells EPC Corporation (U.S. Subsidiary)coreOthers · 25 June 2026Hanwha 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.
• AnthropiccoreTechnology or Integration · 17 June 2026Hanwha 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 InstituteminorStrategic or Co-development Partner · 10 June 2026Selected 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 ManagementminorStrategic or Co-development Partner · 9 June 2026Consortium 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 ManagementminorStrategic or Co-development Partner · 9 June 2026Partnering 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.
• KAISTcoreStrategic or Co-development Partner · 19 May 2026Joint 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 ChemicalminorStrategic or Co-development Partner · 20 March 2026Petrochemical 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 ChemicalminorStrategic or Co-development Partner · 20 March 2026Part 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.minorStrategic or Co-development Partner · 14 November 2025Hanwha 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)coreOthersHanwha 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 ASAminorStrategic or Co-development PartnerLong-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 ServiceminorStrategic or Co-development PartnerMemorandum 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 CorporationminorStrategic or Co-development PartnerMOU for hydrogen industry ecosystem competitiveness enhancement in Gangwon Province, supporting green hydrogen production base development.
• U.S. HomebuilderscoreChannel Partner/ Reseller/ DistributorQcells 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 KoreacoreStrategic or Co-development PartnerGovernment-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

Direct 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

• Xx.com/QENERGY_SE
• YouTubeyoutube.com/chemidream
• Facebookfacebook.com/Qcells.Worldwide
• LinkedInlinkedin.com/company/hanwha-solutions-corporation
• Instagraminstagram.com/qcells

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries7 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments10 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hanwha Solutions