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Develon company logo
Corporation
ENERGY & UTILITIES
doosan.com

Investments

3

Portfolio Exits

3

Partners & Customers

10

About Develon

Doosan provides infrastructure support and power generation equipment. It focuses on power generation, seawater desalination, heavy machinery and construction equipment, construction and engineering, and advanced machinery. The company was formerly known as Doosan and changed its name to Develon in January 2023. Develon was founded in 1896 and is based in Seoul, South Korea.

Headquarters Location

Doosan tower, Euljiro 6-ga Jung-gu

Seoul, 100000,

South Korea

82 2 708 5001

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Latest Develon News

A Microgrid at JFK Airport Will Be Powered by Fuel Cells From Doosan Fuel Cell

Jan 30, 2023

A Microgrid at JFK Airport Will Be Powered by Fuel Cells From Doosan Fuel Cell By FuelCellsWorks January 30, 2023 2   min read  (22 words) January 30, 2023 | 2 min read Please Login Below or Register To Read This Article Username or E-mail You May Also Like FuelCellsWorks January 30, 2023 FuelCellsWorks January 30, 2023 FuelCellsWorks January 30, 2023 error: Alert: Content is protected !! We use cookies to ensure that we give you the best experience on our website. By accessing and using this site you agree with our collection and use of data through cookies. OK

Develon Investments

3 Investments

Develon has made 3 investments. Their latest investment was in Versogen as part of their Series A on April 4, 2022.

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Develon Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

4/21/2022

Series A

Versogen

$14.5M

Yes

Chemours, Develon, HyAxiom, TechEnergy Ventures, and Undisclosed Investors

2

3/8/2022

Corporate Minority - P2P

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$99M

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10

12/21/2021

Corporate Minority

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$99M

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10

Date

4/21/2022

3/8/2022

12/21/2021

Round

Series A

Corporate Minority - P2P

Corporate Minority

Company

Versogen

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Amount

$14.5M

$99M

$99M

New?

Yes

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Co-Investors

Chemours, Develon, HyAxiom, TechEnergy Ventures, and Undisclosed Investors

Sources

2

10

10

Develon Portfolio Exits

3 Portfolio Exits

Develon has 3 portfolio exits. Their latest portfolio exit was Doosan Corporation - Forklift Unit on February 22, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

2/22/2021

Divestiture

Doosan Corporation - Forklift Unit

$99M

2

9/4/2020

Divestiture

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$99M

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10

7/29/2020

Acquired

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$99M

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10

Date

2/22/2021

9/4/2020

7/29/2020

Exit

Divestiture

Divestiture

Acquired

Companies

Doosan Corporation - Forklift Unit

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Valuation

$99M

$99M

$99M

Acquirer

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Sources

2

10

10

Develon Acquisitions

5 Acquisitions

Develon acquired 5 companies. Their latest acquisition was ACT Independent Turbo Services on July 26, 2017.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

7/26/2017

$99M

Acquired

2

7/11/2016

Other

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$99M

$99M

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10

7/19/2014

Series E+

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$99M

$99M

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10

9/1/2007

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$99M

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10

4/1/2000

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$99M

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0

Date

7/26/2017

7/11/2016

7/19/2014

9/1/2007

4/1/2000

Investment Stage

Other

Series E+

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$99M

$99M

Note

Acquired

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Sources

2

10

10

10

0

Develon Partners & Customers

10 Partners and customers

Develon has 10 strategic partners and customers. Develon recently partnered with Korea Hydro & Nuclear Power on November 11, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

11/10/2022

Client

South Korea

Press Release : Doosan Group

▲ On Nov. 9 , Jungmook Lim , Nuclear Power 's Cairo Office Head , and Daeyong Yu , Doosan Enerbility 's Cairo Branch Director , pose for a group photo in Cairo , Egypt after signing the contract for construction of the El Dabaa NPP turbine island .

1

6/14/2022

Partner

South Korea

1

4/25/2022

Partner

United States

Press Release : Doosan Group

`` Doosan Enerbility has continuously solidified its strategic cooperative relationship with NuScale Power and has made full preparations for SMR manufacturing , '' said Geewon Park , Chairman and CEO of Doosan Enerbility .

2

4/20/2022

Client

United States

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10

3/9/2022

Licensor

United States

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10

Date

11/10/2022

6/14/2022

4/25/2022

4/20/2022

3/9/2022

Type

Client

Partner

Partner

Client

Licensor

Business Partner

Country

South Korea

South Korea

United States

United States

United States

News Snippet

Press Release : Doosan Group

▲ On Nov. 9 , Jungmook Lim , Nuclear Power 's Cairo Office Head , and Daeyong Yu , Doosan Enerbility 's Cairo Branch Director , pose for a group photo in Cairo , Egypt after signing the contract for construction of the El Dabaa NPP turbine island .

Press Release : Doosan Group

`` Doosan Enerbility has continuously solidified its strategic cooperative relationship with NuScale Power and has made full preparations for SMR manufacturing , '' said Geewon Park , Chairman and CEO of Doosan Enerbility .

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Sources

1

1

2

10

10

Develon Team

1 Team Member

Develon has 1 team member, including former Chief Financial Officer, Mark McClanahan.

Name

Work History

Title

Status

Mark McClanahan

Corning, Honeywell, Ingersoll Rand, Dover, and Belvac Production Machinery

Chief Financial Officer

Former

Name

Mark McClanahan

Work History

Corning, Honeywell, Ingersoll Rand, Dover, and Belvac Production Machinery

Title

Chief Financial Officer

Status

Former

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