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| SK enmove CEO Park Sang-kyu speaks during the ZIC Brand Day event at Grand Walkerhill Seoul, Tuesday. Courtesy of SK Innovation |
By Park Jae-hyuk
SK enmove unveiled its goal of becoming a global top-tier company in the energy-efficient lubricant market by 2040 with ZIC e-FLO, its new product named after its signature internal combustion engine oil brand.
Dismissing the view that demand for lubricant oil will falter in the era of electric vehicles (EVs), SK enmove CEO Park Sang-kyu said Tuesday that EVs also need a dedicated lubricant that cools motors and reduces the friction resistance of gears to enhance energy efficiency.
"SK enmove is leading the EV lubricant oil market with a competitive edge in raw materials and technologies," he said at the ZIC Brand Day event.
SK enmove has been producing lubricants for EVs since 2013, as the size of the global e-fluid market is expected to grow to 12 trillion won ($9 billion) by 2040.
The lubricant manufacturing unit of SK Innovation has been showing a keen interest in liquid immersion cooling (LIC) technology for thermal management of data centers, energy storage systems and EV batteries.
LIC can reduce heat in hardware through submersion in a dielectric liquid that is thermally conductive. With the technology, data centers can enhance cooling efficiency by 30 percent, compared with conventional air-cooling methods.
SK enmove expects the size of the LIC market to grow to 42 trillion won by 2040.
"Due to the explosive increase in data usage, enhancing energy efficiency through thermal management will emerge as a core business sector in the future," Park said. "Based on SK enmove's competitiveness in high-quality lubricant manufacturing and its R&D capabilities, we will explore new markets."
However, the company did not ignore the importance of the internal combustion engine oil market, considering the growing demand for vehicles using such engines among consumers in Southeast Asia and the Middle East.
"Since its spinoff in 2009, SK enmove has continuously made profits, playing its role for longer and safer use of energy in everyday lives," Park said. "We will be recognized in the global market as a company enhancing electrical efficiency, as well as fuel efficiency."
Last year, SK enmove changed its name from SK lubricants, with the aim of becoming known as an energy-saving company.
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