Hyosung Heavy Industries Begins Construction of World's Largest Liquefied Hydrogen Plant

Hyosung Heavy Industries Signs Investment Contracts for Two Joint Ventures with Linde Group for Production and Sales
Linde Hydrogen to Handle Liquefied Hydrogen Production, Hyosung Hydrogen Responsible for Sales
Yongyeon Liquefied Hydrogen Plant Construction Started Early This Month, Scheduled for Completion in Early 2023

[Asia Economy Reporter Hwang Yoon-joo] Hyosung's project to build the world's largest liquefied hydrogen plant, in collaboration with Linde Group, a global industrial gas specialized chemical company, is set to accelerate.

Hyosung Heavy Industries announced on the 5th that it has signed a joint venture (JV) investment agreement with Linde Group to promote the liquefied hydrogen business. The joint ventures to be established this time are two companies: Hyosung Hydrogen Co., Ltd., a liquefied hydrogen sales company, and Linde Hydrogen Co., Ltd., a production company.

This joint venture establishment agreement follows the memorandum of understanding signed in April last year between Hyosung Heavy Industries and Linde Group to build a hydrogen value chain, including liquefied hydrogen production, transportation, and installation of charging facilities. Under this agreement, Linde Hydrogen Co., Ltd. will construct a liquefied hydrogen plant with an annual production capacity of 13,000 tons on the site of Hyosung Group’s Ulsan Yongyeon plant by early 2023. This will be the largest single-scale plant in the world. Construction is expected to begin as early as the beginning of this month.

Hyosung Hydrogen Co., Ltd. plans to establish hydrogen charging infrastructure at more than 120 locations nationwide in line with the completion of the liquefied hydrogen plant, ensuring smooth supply of the produced products.

The liquefied hydrogen produced at the plant, which will be completed in 2023 with an annual capacity of 13,000 tons, is enough to fuel 100,000 vehicles per year. It also has an eco-friendly effect by reducing 130,000 tons of exhaust gas.

Liquefied hydrogen has a volume about 1/800 that of gaseous hydrogen, making storage and transportation easier. In particular, the charging time required for one passenger car using liquefied hydrogen is 3 minutes, which is four times faster than the 12 minutes required for gaseous hydrogen. Therefore, the charging time for large vehicles (25kg) that require high-capacity hydrogen fuel will also be significantly reduced, expanding the market for large hydrogen vehicles such as hydrogen buses and trucks.

Furthermore, by diversifying the applications of hydrogen energy not only for vehicles but also for various mobility sectors such as drones, ships, and forklifts, it is expected to contribute to revitalizing the hydrogen economy.

Hyosung Chairman Cho Hyun-joon stated, "We have established a system for production, distribution, and sales of hydrogen energy, which is the core of activating the hydrogen economy," and added, "We will solidify our position as a leading company in the hydrogen sector."

This content was produced with the assistance of AI translation services.