The world’s largest liquid hydrogen plant is set to be constructed in Ulsan, South Korea by Hyosung group in partnership with chemical company Linde. Hyosung Group’s Chairman Cho Hyun-joon and Linde Korea’s Sung Baek-seok signed have signed a memorandum of understanding (MoU), agreeing to invest US $244 m until 2022, to establish a comprehensive value chain for liquid hydrogen production, delivery and facility operation.
The facility which will be built on a 30,000 square meter piece of land, inside Hyosung Chemical’s Yongyeon plant in Ulsan is expected to produce 13,000 metric tons of liquid hydrogen per year, enough to power 100,000 cars.
According to Cho Hyun-joon Hydrogen is an environment-friendly energy source with endless potential that can change the carbon-centered economic structure. “The core of our liquid hydrogen business is to enable storing and delivering of hydrogen efficiently and safely. I believe the investment will play a role in activating the domestic hydrogen industry,” he affirmed.
Linde’s Sung Baek-seok said their cooperation with Hyosung will create “synergy. “Linde Group has been producing and using liquid hydrogen in the US and Europe for the past 30 years, and we are developing various applications that can be used in the mobility sector,” he added.
Hyosung and Linde, will establish a joint corporation within this year and embark on the work in the first quarter of 2021. The hydrogen produced as a byproduct from the Yongyeon Plant will be reprocessed as liquid hydrogen with Linde’s technology and facilities. The final product would be possible to use in electric cars but also in drones, ships and trucks, Hyosung said.
The companies also plan to develop a liquid-hydrogen recharging infrastructure during the time plant’s construction is completed. They aspire to set up nearly 120 hydrogen recharging station, including 50 new and 70 enlarged stations to fuel liquid hydrogen in key points across South Korea.