All data are based on the daily closing price as of July 12, 2024

Hyundai E&C to Lead Consortium for South Korea’s First Nuclear-Powered Hydrogen Production Facility

Collaborative project aims to commercialize clean hydrogen production technology
South Korea
h 000720.KO Mid and Small Cap 2000
Share this on

Hyundai Engineering & Construction Co. (Hyundai E&C) announced on Wednesday that it will lead a consortium to build South Korea’s first hydrogen production facility powered by nuclear energy. This landmark initiative marks a significant step towards sustainable and large-scale clean hydrogen production in the country.

Hyundai E&C has signed a memorandum of understanding (MOU) with several key partners, including Korea Hydro & Nuclear Power (KHNP), Samsung C&T Corp., Doosan Enerbility Co., KEPCO E&C, Korea Gas Safety Corporation, Korea Gas Technology Corporation, and the Korea Power Exchange. This collaboration aims to successfully execute a pilot project for clean hydrogen production using nuclear power.

The primary objective of this partnership is to accelerate efforts to commercialize nuclear-powered hydrogen production technology. This initiative is a first for South Korea and is expected to set the stage for stable and large-scale clean hydrogen production in the future.

In addition to the pilot project, the consortium will focus on developing large-scale commercial plants and establishing business models for both domestic use and international export of clean hydrogen. This collaborative effort underscores South Korea’s commitment to advancing sustainable energy solutions and reducing carbon emissions.

By leveraging nuclear power, the consortium aims to produce hydrogen in a cleaner and more efficient manner, contributing to global efforts to combat climate change. This project is poised to position South Korea as a leader in the emerging field of nuclear-powered hydrogen production, paving the way for future advancements in clean energy technology.

Share this on
Jakota Newsletter

Stay ahead in the JAKOTA stock markets with our roundup of vital insights

Icon scroll to top