Doosan Corp. said Wednesday it has developed the industry’s most efficient solid oxide fuel cell for homes and buildings, with plans to offer the new product to the market next year.

According to the holding firm of Doosan Group, the 10-kilowatt SOFCs can turn hydrogen into electricity 40 percent more efficiently than polymer electrolyte membrane fuel cells now available in the market. Also, the 10-kW SOFCs exhibit the same efficiency as 5-kW SOFCs, but require 50 percent less space to install.

“Test results showed that our 10-kW SOFCs exhibit the highest efficiency in the world. We will make efforts to lead the fuel cell market for homes and buildings,” said Kim Deok-hyun, head of Doosan Corp.’s fuel cell power unit.

SOFCs are third-generation fuel cells that offer longer life spans and greater efficiency than conventional models. SOFCs also have a competitive edge in price, as they use nickel as a catalyst instead of platinum to generate electricity.