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SK E&S Spearheads Collaborative Effort to Boost South Korea’s Liquid Hydrogen Ecosystem

South Korea
s 034730.KO Mid and Small Cap 2000
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SK E&S Co., a key energy division of South Korea’s SK Group, is taking a significant leap forward in the energy sector by forging a collaboration with local companies to strengthen the nation’s liquid hydrogen fueling ecosystem. This move was cemented with a non-binding agreement signed with several domestic firms, including Hyosung Heavy Industries Corp., Cryos Co., Dalim Co., and Kwanghin Machine Ind. Co.

The core objective of this alliance is to increase the utilization of domestically produced products in establishing liquid hydrogen charging stations across South Korea. Currently, the Korean market relies heavily on products from foreign companies, notably France’s Air Liquide, for its liquid hydrogen plants and fueling stations. This initiative by SK E&S and Hyosung aims to shift this dependency towards local products.

The participating companies, Cryos, Dalim, and Kwangshin, are set to co-develop and manufacture essential components for liquid hydrogen fueling stations. These include storage tanks, tank trailers, pumps, valves, vaporizers, and compressors.

SK E&S plans to leverage these domestically sourced products to build liquid hydrogen charging stations in several cities, including Busan, Cheongju, and Incheon. The initial goal is to establish 10 stations by the first half of 2024, with an eventual expansion to around 40 stations.

This initiative is not just about establishing a network of fueling stations; it’s also aimed at catalyzing the growth of related industries such as shipbuilding, automotive, and aviation. According to an SK E&S official, this collaboration could turn materials, components, and equipment for liquid hydrogen charging into new export items, driving the expansion of these industries.

Choo Hyeong-wook, Chief Executive of SK E&S, highlighted the company’s commitment to enhancing the competitiveness of the local liquid hydrogen industry. This collaboration, built on the technological capabilities of domestic companies, represents a strategic move to position South Korea as a leader in the evolving global energy landscape.

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