South Korea’s Hyosung and German industrial gases group Linde have signed a deal to build the world’s largest liquid hydrogen manufacturing facility in Ulsan, South Korea.
The two companies will invest 300 billion won (US$245.4 million) in a joint venture creating a value chain that covers the setup and operation of liquid hydrogen production, transport and recharging facilities.
Under the terms of the deal, they will set up about 120 hydrogen recharging stations – 50 new and 70 enlarged stations to fuel liquid hydrogen – in key points across the country.
Cho Hyun-joon, Hyosung’s chairman, and Sung Baek-seok, Linde Korea's chairman, signed the memorandum of understanding at Hyosung headquarters in Mapo, Seoul, on April 28.
The liquid hydrogen plant will be constructed on an area of about 30,000 square metres within the site of Hyosung Yongyeon plant in Ulsan.
The facility will have an annual capacity production of 13,000 tonnes of liquid hydrogen – enough to fuel 100,000 automobiles – making it the world’s largest liquid hydrogen manufacturing facility.
Plant construction is expected to begin in the first quarter of 2021, with completion set for 2022.
The new plant will produce liquid hydrogen by applying Linde’s hydrogen liquefaction technology and system to byproduct hydrogen produced by the Hyosung Chemical Yongyeon plant.
Hydrogen liquefaction technology liquefies hydrogen gas into a high-pressure state. Linde has the world’s most advanced technology in liquid hydrogen production.
Both companies will invest in the development of a liquid hydrogen recharging infrastructure in time for the completion of the plant.
“Hydrogen is an eco-friendly energy source that can change existing carbon-centered economic structure. Its possibilities are endless,” said Cho. “The point of the liquid hydrogen business sought by Hyosung is to store and transport hydrogen efficiently and safely. Investment this time will play a big role in invigorating the ecology of domestic hydrogen industry.”