Wonil T&I Company

What Wonil T&I Company does

Wonil T&I Company is a South Korean specialty industrial equipment manufacturer established in 1990 and listed on the KOSDAQ market (ticker 136150) since May 2025, with ~847 billion KRW market capitalization. The company designs and manufactures hydrogen storage alloys (metal hydrides, proprietary Ti-Zr base), high-purity hydrogen production units, Submerged Combustion Vaporizers (SCV) for LNG terminals, cryogenic pressure vessels, Fuel Gas Supply Systems (FGSS) for ships and power plants, and nuclear-grade equipment including debris filters and tritium removal facility components. Its technology stack spans cryogenic engineering, materials science, pressure swing adsorption, and ASME Sec. III-qualified nuclear equipment fabrication, anchored by a corporate R&D center operating since January 2002.

The company operates a project-based B2B model with long sales cycles (12-36 months), selling directly to EPC contractors, state-owned energy utilities (KOGAS, KHNP, KEPCO), shipbuilders (DSME, Samsung Heavy Industries, Hyundai Heavy Industries, Hanwha Ocean), defense agencies (DAPA for Jangbogo III submarines), and international energy companies across 20+ countries. Wonil T&I generates revenue primarily through one-time equipment sales contracts, supplemented by R&D services tied to government-funded programs (MOTIE, MOF, MSS) and aftermarket maintenance/spare parts for installed equipment. The company has positioned itself as Korea's only full-cycle hydrogen technology provider, covering production (reformers at 80%+ HHV efficiency, 99.999%+ purity), storage (metal hydride alloys at 1.8-1.9 wt% capacity, 10,000+ cycle durability), and utilization equipment, with exclusive supply rights to Jangbogo III submarine air-independent propulsion systems.

The company has accumulated certifications including ASME Sec. III nuclear stamps (N, N3, NPT, NS), KEPIC, Bureau Veritas, DNV, CSELO, and was certified as Korea's first hydrogen specialist company by the Ministry of Trade, Industry and Energy in June 2024. Manufacturing is concentrated at the Gimpo headquarters with sales representation in Seoul; international project delivery spans Asia-Pacific, Middle East, North Africa, Europe, and the Americas, with cumulative deliveries of 61 SCV sets in Korea, 42 in China, and 285 gas heater sets to Korean governor stations.

Name

Wonil T&I Company

Legal name

WONIL T&I CO.,LTD.

Website

https://woniltni.co.kr

Company type

Public

Founded year

1990

Operating status

Operating

Headcount range

11–50 employees

Short description

Wonil T&I Company is a South Korean specialty industrial equipment manufacturer designing hydrogen storage alloys, high-purity hydrogen production units, SCV vaporizers, and nuclear-grade equipment for energy, defense, and shipbuilding customers across 20+ countries. KOSDAQ-listed since May 2025.

Ownership category

akta.pro rank

Product category

Industrial Energy Equipment (Hydrogen & Gas Systems)

NAICS

Power Boiler and Heat Exchanger Manufacturing (332410), Other Guided Missile and Space Vehicle Parts and Auxiliary Equipment Manufacturing (336419), Aerospace Product and Parts Manufacturing (33641)

SIC

Oil & Gas Field Machinery & Equipment (3533), Guided Missiles & Space Vehicles & Parts (3760)

akta.pro primary industry

Pressure Vessels, Columns & Storage Tanks (ASME/Process Vessels) (IMAHAEAF)

akta.pro secondary industries

Submarine Systems & Components (Pressure Hull, Ballast, Life Support) (IMABAKAL), Pump & Compressor Packages (Skids, Booster Sets) (IMAHANAG)

Keywords

• Hydrogen storage systems
• LNG vaporization equipment
• Nuclear pressure vessels
• Fuel gas supply systems
• Cryogenic pressure vessels

Headquarters

HQ city

Gyeongju

HQ country

South Korea

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Industrial Equipment Manufacturing & Sales: WONIL T&I generates revenue primarily through the design, manufacture, and delivery of specialized industrial equipment (vaporizers, pressure vessels, heat exchangers, hydrogen storage systems, FGSS) to power generation, petrochemical, nuclear, and shipbuilding customers. Revenue is project-based, generated through fixed-price contracts with EPC contractors, shipbuilders, and state-owned utilities. Equipment is supplied against long lead times with delivery schedules tied to construction phases of major infrastructure projects.
2. R&D Services and Technology Licensing: WONIL T&I participates in government-funded R&D projects (Ministry of Trade, Industry and Energy; Ministry of Oceans and Fisheries; Ministry of SMEs and Startups; etc.) under which it receives R&D funding and technology development fees. The company also performs technology transfers (e.g., localization of high-purity hydrogen production units to Korea Gas Technology Corporation).
3. Aftermarket and Spare Parts Services: Ongoing service, maintenance, and spare parts supply for delivered equipment including debris filters, heat exchangers, gas heaters, and pressure vessels at nuclear and thermal power plants, LNG terminals, and refineries.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Wonil T&I Company designs, manufactures, and delivers specialized industrial equipment for hydrogen, LNG/gas, nuclear, petrochemical, power generation, and shipbuilding applications. Core offerings include hydrogen storage alloys (Ti-Mn2 metal hydrides) and cylinders, high-purity hydrogen production units (reformers), submerged combustion vaporizers (SCV), fuel gas supply systems (FGSS) for power plants and ships, cryogenic pressure vessels, gas heaters, filters, recondensers, nuclear debris filters, tritium removal facilities, and ASME-qualified pressure vessels and heat exchangers. Equipment is custom-engineered per international codes (ASME Sec. III/VIII, KEPIC) and supplied under fixed-price EPC and defense contracts worldwide.

Product overview

Wonil T&I Company is a global hydrogen and energy technology specialist offering industrial equipment across seven business segments. The portfolio includes hydrogen solutions (storage alloys, cylinders, and production units), gas systems (vaporizers, heaters, filters, recondensers), cryogenic storage containers, combined cycle power plant equipment (FGSS, ignition systems, electric heaters), nuclear power plant equipment (debris filters, tritium removal, pressure vessels), petrochemical products (pressure vessels, heat exchangers, pig launchers), and offshore/shipbuilding systems (HP vaporizers, FGSS). The company positions itself as a full-cycle hydrogen ecosystem provider from production through storage, utilization, and transport, with strong emphasis on localization of imported technologies.

Differentiator

Problem solved

Functional benefit

Products and services

• Hydrogen Storage Alloy (W-Alloy) Metal hydride-based hydrogen storage system using Ti-Mn2 alloy technology storing hydrogen at 3–70 bar with 1.8–1.9 wt% reversible capacity and 10,000+ life cycle durability. Provides 1.6–2x storage density vs. liquid or 700-bar gas storage. Supplied to naval submarines (Jangbogo III), forklifts, excavators, hydrogen refueling stations, and hydrogen model cities.
• Hydrogen Storage Cylinder Safe hydrogen storage cylinder engineered for optimal mounting of metallic hydride for hydrogen storage at 3–70 bar (explosion-proof). Capacities up to 113 kg H2 per 1,000 L cylinder volume. Supplied for submarine AIP, hydrogen forklifts, and hydrogen mobility applications.
• High-Purity Hydrogen Production Unit City gas-based hydrogen extraction system using 100% Korean technology. Achieves 99.999%+ hydrogen purity, 80%+ reforming efficiency (HHV), and CO concentration below 0.2 ppm. Modular skid-mounted design available in capacities from 300 Nm³/hr to 3,000 Nm³/hr. Deployed at hydrogen refueling stations and fuel cell power generation sites including Pyeongtaek hydrogen production base (up to 7 tons/day) and Wanju hydrogen refueling stations.
• Submerged Combustion Vaporizer (S.C.V) LNG vaporization system using submerged combustion technology with glycol water heat medium. All LNG-contacting parts in corrosion-resistant stainless steel. Near 100% thermal efficiency with minimal NOx/CO emissions. Widely deployed at LNG terminals globally — 61 SCV sets in Korea (2001–present) and 42 SCV sets in China (2012–present) including CNOOC Tianjin, Beijing Gas Tianjin Nangang, SINOPEC Tianjin, and Petro Tangshan.
• Mobile Vaporizer Portable LNG vaporizer for emergency gas supply and island/remote area applications. Capable of vaporizing 5 tons of LNG per hour with rapid trailer-based loading and transport.
• Gas Heater Natural gas preheating system that compensates for Joule-Thomson temperature drop during pressure reduction, preventing pipe freezing and protecting metering equipment. Heating capacities from 50 to 250 Ton/hr. 285 sets supplied to Korean governor stations since 1995.
• Gas Filter Gas filtration system installed upstream of gas heaters to remove moisture, dust, and impurities from natural gas supply, protecting downstream equipment. Filtration capacities of 50–250 Ton/hr.
• Recondenser BOG (Boil-Off Gas) re-liquefaction system using proprietary vertical stainless steel technology. Mixes low-temperature LNG with BOG to re-liquefy gases between LP and HP LNG pumps at LNG terminals and FSRU vessels. Deployed at SLNG Singapore and FSRUs built by DSME for EXCELERATE Energy (USA) and MOL (Japan/Uruguay).
• Cryogenic Pressure Vessel Ultra-low temperature pressure containers for LNG (-165°C) and LN2 (-196°C) storage with vacuum insulation. Cold test verified for LNG ships and FSRU applications meeting ASME Sec. VIII standards. Supplied to SLNG Singapore (12 sets for 2nd Berth, 2 sets for terminal) and KNPC Kuwait (5 sets, AGRP project).
• LN2 Storage System Double-wall liquid nitrogen storage container operating at -196°C with Perlite insulation between outer and inner walls, preventing LN2 vaporization by blocking external heat transfer.
• Fuel Gas Supply System (FGSS) for Power Plants Natural gas refining and supply system that receives gas from pipelines, adjusts temperature and pressure, and supplies to steam generators and gas turbines for combined cycle and simple cycle power plants. Includes ESDV, gas filter, gas heater, pressure reducing station, metering system, and analyzer. Supplied to KOSPO Hanlim CCPP (19.3 Ton/hr) and SPE Algeria power plants (Biskra 134 Ton/hr, Ras Djinet CCPP 202 Ton/hr).
• GT Ignition System Gas turbine ignition system package for combined cycle power plant startup. Delivers precise fuel quantities at stable pressure and temperature for initial turbine ignition. Supplied to SEC Shoaiba CCPP (Saudi Arabia) in package size 1,400 x 4,870.
• Electric Heater Electric heating system for gas temperature compensation and freeze prevention. High responsiveness using electrical resistance elements for rapid gas heating at power plants.
• Debris Filter Seawater filtration device for nuclear and thermal power plants that removes debris such as seaweed through evenly distributed backwash flow during water intake and treatment. Supplied to UAE Barakah Nuclear Power Plant Units 1–4 (2,725 m³/hr × 24 sets) and KHNP Korean nuclear plants.
• Tritium Removal Facility (TRF) Heavy water tritium removal system for pressurized heavy water reactors. Components include catalytic exchange columns, heavy water supply tanks, and heavy water collection/production tank skids. Supplied to KHNP Wolsung Nuclear Power Plant (CANDU-type).
• Spent Resin Transport & Storage Equipment Safe transport and storage tanks for spent nuclear fuel transferred from nuclear power plant storage pools to alternative facilities when storage pool capacity is exceeded.
• Nuclear Pressure Vessel & Heat Exchanger Safety and non-safety class pressure vessels, heat exchangers, and filters for nuclear power plants. Manufactured to KEPIC MND/MNE and ASME Sec. VIII Div. 1 / ASME III standards with Q, A, S quality grades.
• Pressure Vessel Wide range of pressure vessels including reactors, columns, towers, and double wall type vessels for petrochemical, power plant, shipbuilding, and LNG terminal applications per international standards (ASME Sec. VIII, KEPIC). Includes 41 sets supplied to LG Chem Daesan and 14 sets supplied to KNPC AGRP project.
• Shell & Tube Heat Exchanger Heat exchangers designed using HTRI program and TEMA/ASME Sec. VIII standards covering basic design through detailed manufacturing for both cryogenic and high-temperature applications. Includes 67 sets supplied to LG Chem Daesan BPA petrochemical complex and 12 sets to KNPC North LPG Tank Farm (Kuwait).
• Pig Launcher & Receiver Pipeline cleaning equipment using pig devices to physically remove foreign substances from pipe interiors for pipeline maintenance and integrity verification. Includes 10 sets supplied to KIPIC Al Zour New Refinery (Kuwait) and units supplied to Chevron Nigeria EGP3-A (32" × 28", 380 Bar).
• HP Vaporizer for Ships Shell & tube type LNG vaporizer for FSRU re-gasification using glycol water as heat medium, addressing seawater corrosion. Capacities of 55,511 Kg/hr (Shell Side) and 3,200 Kg/hr (Tube Side). Supplied to DSME for FSRU LNG re-vaporization (2019).
• Fuel Gas Supply System for Ships (FGSS) LNG fuel vessel fuel gas supply system for 2-stroke ME-GI main engines, composed of HP LNG pump, HP vaporizer, and glycol water facility. Capacity 55.6 Ton/hr. Supplied to DSME for LNG-fueled ME-GI engine (2010).

Quantifiable outcome

• Hydrogen purity 99.999%+ with CO concentration ≤0.2 ppm
• +7 more outcomes

Named customers21 records

Segments6 records

Ideal customer profiles7 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Eleven partnerships are on record, tiered core and supporting.

• Korea Institute of Energy Research (KIER)coreStrategic or Co-development Partner · 1 May 2021Joint R&D partnership for hydrogen technology development including hydrogen test city infrastructure (2020–2023), and technology transfer of high-purity hydrogen production unit localization (2020). KIER serves as the superintendent organization with WONIL T&I as a participating partner for hydrogen storage alloy composite manufacturing and 120 kg large-capacity hydrogen storage system development under the hydrogen model city program.
• Korea Gas Technology Corporation (KOGASTECH)coreStrategic or Co-development Partner · 1 May 2021Joint participation in hydrogen production infrastructure projects including Pyeongtaek hydrogen production base (3,000 Nm³/hr + 300 Nm³/hr) and Wanju hydrogen refueling stations (300 Nm³/hr x 4 sets). KOGASTECH serves as the engineering and construction partner for hydrogen production skid deployment.
• Chungnam National UniversitysupportingStrategic or Co-development Partner · 1 May 2021Academic research partner in the 2,000 kg/day high-efficiency mid/large-sized reformer development project (2021–2025), contributing research capabilities in chemical engineering and hydrogen production processes.
• Korean Register of ShippingcoreStrategic or Co-development Partner · 1 April 2020Joint development of safety criteria for hydrogen storage containers (liquid, gas, solid) and fuel supply systems for ships (2020–2024). WONIL T&I is the sole hydrogen storage technology partner alongside other shipbuilding industry participants (Hanjin Heavy Industry, Korean Institute of Machinery and Materials, etc.). This partnership is critical for establishing the regulatory framework for hydrogen-powered vessels in Korea.
• Doosan Fuel Cell Co.supportingStrategic or Co-development Partner · 1 April 2020Participant in the hydrogen test city infrastructure development project led by KIER (2020–2023). Contributes fuel cell technology integration expertise for the residential hydrogen energy demonstration combining hydrogen storage alloys with fuel cell systems in townhouse environments.
• Korea UniversitysupportingStrategic or Co-development Partner · 1 April 2020Academic research participant in the hydrogen test city infrastructure development project, contributing academic expertise in energy systems and fuel cell integration for the residential hydrogen energy demonstration.
• EM Solution Co.supportingStrategic or Co-development Partner · 1 April 2020Technology partner in the hydrogen test city infrastructure development project, contributing hydrogen energy system integration expertise for residential applications combining hydrogen storage alloys with renewable energy sources.
• Hyundai Motor Company / Kia MotorscoreStrategic or Co-development Partner · 2 March 2020Joint development of solid hydrogen storage systems for fuel cell forklifts (2020–2022, two phases). WONIL T&I provides hydrogen storage alloy technology enabling low-pressure charging/storage for forklift fuel cell applications. Hyundai/KIA serves as the superintendent with WONIL T&I as the key technology partner. The project produced the world's first solid hydrogen power pack forklift technology operating at 100 bar or less.
• Gaoncell Co.supportingStrategic or Co-development Partner · 1 January 2020Partner in the Ulsan Regulation-Free Special Zone hydrogen fuel cell driving system application and operation demonstration project (2020–2021). WONIL T&I supplies solid hydrogen storage technology for fuel cell forklift applications. Gaoncell serves as the superintendent organization.
• KAIST (Korea Advanced Institute of Science and Technology)coreStrategic or Co-development Partner · 1 December 2019R&D partnership for hydrogen/oxygen generator technology using oxygen reaction heat for unmanned submarine fuel cell applications (2019–2022). WONIL T&I provides hydrogen storage technology for the system. Project supervised by ADD (Agency for Defense Development) and aimed at developing high energy density fuel cell systems for undersea operations.
• Shaanxi Gas Group (China)supportingChannel Partner/ Reseller/ Distributor · 12 November 2018MOU signed in November 2018 for the sale of SCV (Submerged Combustion Vaporizer) units to Shaanxi Gas Group in China. Shaanxi Gas Group acts as a local channel partner/distributor for WONIL T&I's SCV products in the Chinese market, particularly for the Yangling LNG expansion projects.

Scale indicators6 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Doosan Enerbility: Korean industrial conglomerate manufacturing power generation equipment (gas turbines, steam generators), hydrogen turbines, and process equipment. Comparable business model as a Korean industrial equipment maker serving KEPCO, KHNP, and combined cycle power plant developers with overlapping hydrogen initiatives.
• Chart Industries: US-based global leader in cryogenic and hydrogen process equipment (LNG vaporizers, heat exchangers, hydrogen storage and liquefaction). Directly comparable as a competing supplier of SCV technology, cryogenic pressure vessels, and hydrogen production/storage systems to LNG terminals and energy infrastructure customers worldwide.
• MAN Energy Solutions: German manufacturer of LNG vaporizers, cryogenic equipment, and marine fuel gas supply systems. Directly competes with Wonil in HP vaporizers and FGSS for LNG-fueled vessels and FSRUs supplied to shipbuilders like DSME and Samsung Heavy Industries.
• Hyosung Heavy Industries: Korean competitor in hydrogen infrastructure (hydrogen compressors, refueling station equipment, fuel cell systems). Co-recipient of the 2021 Money Today Hydrogen Award and overlapping customer base across Korean utilities and hydrogen city projects.

Broad incumbents

• Babcock & Wilcox Enterprises: US-based supplier of nuclear steam generators, heat exchangers, and process equipment with ASME Sec. III nuclear qualifications. Comparable in nuclear-grade pressure vessel and heat exchanger manufacturing serving nuclear power plant operators and EPC contractors.
• Linde plc: Global industrial gas giant offering hydrogen production (electrolysis, SMR), storage, and distribution alongside cryogenic LNG equipment. Larger and more diversified than Wonil, but overlaps in reformer technology, hydrogen storage, and LNG terminal supply where Wonil's SCVs compete.
• Air Products and Chemicals: Global industrial gas and hydrogen infrastructure major with significant LNG heat exchanger, vaporizer, and hydrogen production technology. Overlaps with Wonil in hydrogen production units and cryogenic equipment serving petrochemical and LNG terminal customers.

Emerging players

• Hanwha Ocean: Korean shipbuilder pursuing LNG-fueled vessel construction and hydrogen fuel cell integration. Comparable in marine FGSS and cryogenic pressure vessel demand; partial overlap as a Korean naval and commercial shipbuilding customer and emerging competitor in marine hydrogen systems.
• HD Hyundai Heavy Industries: Korean shipbuilder (alongside DSME) and a growing hydrogen system integrator building its own hydrogen fuel cell and storage capabilities. Overlaps as both a customer-adjacent shipbuilder and an emerging competitor in marine hydrogen and FGSS systems.

Regional players

• Cryolor (Air Liquide subsidiary): French-based cryogenic equipment manufacturer specializing in LNG and industrial gas storage and vaporization. Comparable in cryogenic pressure vessels, LNG recondensers, and small-scale LNG equipment, primarily serving European and Middle Eastern markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance16 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Wonil T&I Company