Hyosung and Linde have today unveiled plans to build the world’s single largest liquid hydrogen manufacturing facility in Ulsan.
The two companies will invest 300 billion won ($245.4m) in a joint venture creating a value chain that covers everything about the setup and operation of liquid hydrogen production, transport and recharging facilities.
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 sedans – making it the world’s single largest liquid hydrogen manufacturing facility.
Groundbreaking is expected to take place in the first quarter of 2021 with the plan completed in 2022.
The new plant will produce liquid hydrogen by applying Linde’s hydrogen liquefaction technology and system to byproduct hydrogen produced by Hyosung Chemical Yongyeon Plant.
Hydrogen liquefaction technology liquefies hydrogen in a high-pressure state of the gas. 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.
Under their accord on the cooperative partnership on liquid hydrogen supply, 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.
“Hydrogen is an eco-friendly energy source that can change existing carbon-centered economic structure. Its possibilities are endless,” Hyosung Chairman Cho Hyun-joon said.
“The point of 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.”