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Hanwha Cimarron plans to spend $51 million on a production facility in Opelika, Alabama, to make 4,000 high-pressure tanks per year. Construction is to finish in 2022.
Hanwha Solutions' newly acquired unit Hanwha Cimarron signed a 10-year, $260 million deal with Texas-based Sunbridge Energy Services to supply tube trailers with high-pressure storage tanks for compressed natural gas. The deal was announced on August 24, 2021.
Hyosung Advanced Materials has secured a six-year contract worth 157.2 billion won ($139 million) from Hanwha Solutions to supply high-strength carbon fiber for hydrogen fuel tanks.
