Lotte Chem-Air Liquide Korea Sign Business Agreement for Hydrogen Mobility Project

[Asia Economy Reporter Hwang Yoon-joo] Lotte Chemical and Air Liquide Korea have joined hands to develop the hydrogen mobility market.

Lotte Chemical announced on the 20th that it signed a Memorandum of Understanding (MOU) with Air Liquide Korea at Lotte World Tower in Jamsil to enter the hydrogen mobility market. Hydrogen is increasingly recognized as a key element in the energy transition to address global climate change. Through this agreement, the two companies have decided to combine their strengths to expand the eco-friendly hydrogen economy.

Lotte Chemical and Air Liquide plan to jointly invest in building a new high-pressure hydrogen shipping center and hydrogen charging stations using Lotte Chemical’s by-product hydrogen, starting from the metropolitan area and expanding the mobility market nationwide. Additionally, leveraging their advanced technologies, the two companies will invest in liquefied hydrogen production facilities necessary for entering an eco-friendly hydrogen society, and collaborate on carbon dioxide capture and utilization, as well as high-pressure hydrogen tank technologies.

Accordingly, the two companies expect to create multifaceted synergy effects in various fields of the hydrogen economy, including future blue hydrogen production, carbon dioxide reduction, and expansion of hydrogen distribution channels.

Lotte Chemical produces a variety of basic and advanced petrochemical products and produces low-carbon by-product hydrogen at three domestic production sites (Yeosu, Daesan, Ulsan). In addition, it is currently developing low-carbon based product manufacturing technology by establishing facilities applying CCU (carbon capture and utilization) technology at the Yeosu plant.

Air Liquide is well known as a company dedicated to hydrogen energy with world-class expertise and technology in the hydrogen sector. As a global leader in the industrial gas field, it has built expertise across the entire hydrogen supply chain?from production and storage to distribution?over the past 50 years. In particular, it contributes to the widespread use of hydrogen as a clean energy source in the mobility sector and has designed and built more than 120 hydrogen charging stations worldwide to date.

Hwang Jin-gu, Head of Basic Materials Business at Lotte Chemical, said, "Through this agreement, Lotte Chemical and Air Liquide Korea will continuously expand their business in the growing hydrogen market and play an important role in the hydrogen industry."

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