HyGear has signed an agreement with KOGAS to fixate the ambitions to collaborate in the Korean market. The agreement has strategic benefits for both companies.
KOGAS, an abbreviation for Korea Gas Corporation, has been established in 1983. With a profit of €260m and almost 3,500 employees, it is one of the world’s largest and Korea’s sole LNG provider. KOGAS imports LNG from around the world and supplies it to power generation plants, gas-utility companies and city gas companies. Furthermore, KOGAS produces and supplies natural gas, sells purified gas related by-products, builds and operates production facilities, and facilitates the gas distribution network.
Dr. Young-Myung Yang, Executive Vice President and CTO KOGAS has expressed his delight, “We are very happy with the agreement with HyGear. HyGear can contribute to our technology portfolio with their innovative on-site systems.”
The agreement was signed during HyGear’s environmental and energy related business mission to Korea. HyGear’s CEO Marinus van Driel elaborates, “The agreement with KOGAS is very important for us since KOGAS is a great company with access to strategic important sales channels in the Korean market for our Hydrogen Generation Systems.” Korea is an important market for HyGear, since it has set ambitions on the reduction of carbon emissions in the industry with key segments of water, waste, air cleaning, recycling, restoration of soil segments and the introduction of clean and renewable energy sources. With its key-technologies and knowledge, HyGear can contribute to these ambitions.