Ecopro HN rides semiconductor boom to surpass W191.4b in orders this year

Ecopro HN has secured more than 191.4 billion won ($143 million) in orders this year, riding a wave of semiconductor facility investment driven by the spread of AI — a figure that already exceeds the company's full-year sales for last year. The company has also expanded its customer base into the United States, Singapore and Taiwan, pushing the overseas share of total orders above 40 percent.

Ecopro HN disclosed at an IR event held in Yeouido, Seoul, on Friday that its cumulative orders this year stood at 191.4 billion won on a disclosure basis. That figure is roughly 136 percent of last year's annual sales of 141.1 billion won.

The order growth has been driven by environmental equipment for semiconductor fabs and power plants. In March, the company signed a contract to supply eco-friendly equipment to a liquefied natural gas power plant in Tongxiao, Taiwan. In its core business of semiconductor greenhouse gas reduction equipment, it has also won a series of contracts from Samsung E&A, as well as US-based Hoffman and Micron.

The overseas share of its business has grown rapidly. Ecopro HN, which had primarily supplied environmental equipment to domestic semiconductor companies centered on Cheongju in North Chungcheong Province, has recently extended its reach to semiconductor production facilities in the US and Singapore, as well as power plants in Taiwan.

As a result, overseas orders now account for 41 percent of this year's cumulative total — up 19 percentage points from 22 percent in 2023.

The expansion of the AI market and the resulting scale-up of semiconductor factories are generating new demand. The semiconductor manufacturing process produces greenhouse gases such as perfluorocarbons, some of which have a global warming impact thousands to tens of thousands of times greater than carbon dioxide.

Ecopro HN supplies equipment that uses catalysts to break down these gases at temperatures of roughly 750 to 800 degrees Celsius. According to the company, the system reduces energy consumption by more than 90 percent compared with conventional high-temperature thermal decomposition methods.

The company is also growing its maintenance business, which generates revenue after equipment is delivered. Because greenhouse gas reduction systems operate inside semiconductor factories over extended periods, they require regular inspections, catalyst replacements and consumables on an ongoing basis.

Ecopro HN bundles equipment design and installation with post-commissioning maintenance and operational support. The strategy is to expand a business model that generates consistent recurring revenue from installed equipment, not just one-time sales from new installations.

As more equipment is put into operation with the expansion of semiconductor factories and industrial facilities, demand for catalyst replacements and maintenance is expected to grow in tandem. On that basis, the company aims to raise the share of recurring service revenue — including maintenance — to more than half of total sales by 2030.

The company is also expanding beyond its existing environmental equipment business. It plans to broaden its environmental operations into carbon capture, utilization and storage, eco-friendly water treatment, and the recycling of industrial byproducts, while also moving into advanced materials for semiconductors and batteries.

In semiconductors, the company is exploring materials used in advanced packaging and HBM as new business candidates. In batteries, it is pursuing the development of materials for next-generation products. The moves reflect a broader effort to diversify its business structure — currently concentrated in environmental equipment — into materials and energy.

"This year's string of overseas orders is the result of our eco-friendly technology and product competitiveness being recognized in the global market," an Ecopro HN official said. "We will continue to expand our global customer base, centered on the semiconductor and power generation industries, while diversifying into environmental resources and advanced materials and energy, contributing to sustainable growth and carbon neutrality."