
Investments
3Portfolio Exits
3Partners & Customers
10About 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.

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Latest Develon News
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.

Develon Investments Activity

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 | |||||
12/21/2021 | Corporate Minority |
Date | 4/21/2022 | 3/8/2022 | 12/21/2021 |
---|---|---|---|
Round | Series A | Corporate Minority - P2P | Corporate Minority |
Company | Versogen | ||
Amount | $14.5M | ||
New? | Yes | ||
Co-Investors | Chemours, Develon, HyAxiom, TechEnergy Ventures, and Undisclosed Investors | ||
Sources | 2 |
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 | 2 | ||
Date | 2/22/2021 | ||
---|---|---|---|
Exit | Divestiture | ||
Companies | Doosan Corporation - Forklift Unit | ||
Valuation | |||
Acquirer | |||
Sources | 2 |
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 | Acquired | 2 | ||||
7/11/2016 | Other | |||||
7/19/2014 | Series E+ | |||||
9/1/2007 | ||||||
4/1/2000 |
Date | 7/26/2017 | 7/11/2016 | 7/19/2014 | 9/1/2007 | 4/1/2000 |
---|---|---|---|---|---|
Investment Stage | Other | Series E+ | |||
Companies | |||||
Valuation | |||||
Total Funding | |||||
Note | Acquired | ||||
Sources | 2 |
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 | ▲ 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 | `` 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 | ||||
3/9/2022 | Licensor |
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 | ||
News Snippet | ▲ 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 . | `` 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 . | |||
Sources | 1 | 1 | 2 |
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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