Cavendish Hydrogen exits South Korean market

Cavendish Hydrogen ASA (OSL:CAVEN) has decided to exit the South Korean market, citing persistent challenges in achieving commercial traction against strong local competition. This strategic move aims to reduce operational complexity and costs, redirecting resources to markets where the company's strengths in hydrogen fueling solutions for mobility are better aligned with demand, competitiveness, and growth potential. The decision, effective September 30, 2025, follows a thorough evaluation of Cavendish's global footprint.

Chief executive Robert Borin acknowledged the difficulty of the decision, expressing gratitude for the South Korean team's dedication and professionalism. He stated that while it marks the end of their journey in one market, it strengthens their ability to deliver value elsewhere. Customers in other geographies will continue to receive uninterrupted support and access to Cavendish's market-leading solutions.

Cavendish Hydrogen, headquartered in Herning, Denmark, is a global leader in hydrogen fueling solutions. The company remains in a solid position to continue its growth and innovation across its core markets, committed to providing safe, competitive, and reliable zero-emission fueling solutions for heavy-duty vehicles.