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SK E&S Collaborates with Plug Power and Korea Water Resources for Green Hydrogen Expansion

South Korea
s 034730.KO Mid and Small Cap 2000
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SK E&S, a subsidiary of SK Group, in collaboration with Plug Power, Korea Water Resources Corporation, and SK Plug Hyverse, inaugurated a ‘Green Hydrogen Expansion and Industry Revitalization’ event at the Plug Power Vista Plant in Albany County, New York, USA. The companies formalized a crucial ‘business agreement (MOU)’ on the 7th, marking a significant stride towards bolstering the green hydrogen sector.

Green hydrogen, pivotal in the pursuit of clean energy solutions, is produced without emitting greenhouse gases. The MOU outlines a comprehensive strategy encompassing the establishment of national green hydrogen production facilities, the acquisition of operational expertise, expansion of domestic and global green hydrogen ventures, and the identification of fresh business opportunities.

SK Plug Hybus, a collaborative venture between SK E&S and Plug Power, will furnish polymer electrolyte (PEM) water electrolysis facilities for green hydrogen projects on a global scale. The partnership will extend to equipment maintenance responsibilities. Additionally, joint efforts will be directed towards research and development of operational technologies for green hydrogen production facilities in tandem with Korea Water Resources Corporation, paving the way for coordinated entries into overseas markets.

The MOU further encompasses the localization of PEM water electrolysis technology, a pivotal component in green hydrogen production. A water electrolysis facility functions by electrolyzing water to yield hydrogen, constituting a critical apparatus in the green hydrogen production process. The plan entails domestic production of PEM water electrolysis equipment by SK Plug Hybus in Korea, with Korea Water Resources Corporation facilitating essential technical and business support for local production. This initiative is poised to foster the growth of domestic green hydrogen enterprises in the water industry.

Lee Ji-young, Head of SK E&S’ Hydrogen Global Group, emphasized the commitment to reducing carbon emissions and fortifying the global competitiveness of the burgeoning domestic clean energy sector. He expressed the intent to explore diverse collaborative opportunities aimed at expanding the clean hydrogen industry ecosystem and attaining carbon neutrality, envisioning a leadership role in this transformative era.

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