11 Hydrogen Specialized Companies Designated for the First Time... Support for R&D, Finance, and Procurement

[Sejong=Asia Economy Reporter Kwon Haeyoung] The Ministry of Trade, Industry and Energy announced on the 1st that it has designated 11 companies, including Yuhan Precision, as the first 'hydrogen specialized companies.'

According to the Hydrogen Economy Promotion and Hydrogen Safety Management Act (Hydrogen Act), which has been in effect since February, hydrogen specialized companies are those whose proportion of sales related to hydrogen business or investment in hydrogen-related research and development (R&D) meets certain criteria out of their total sales. The government plans to support these companies in R&D, finance, public procurement, and overseas expansion.

The 11 companies designated this time were selected through evaluations by experts from industry, academia, and research institutes for their technological capabilities and growth potential.

Yuhan Precision has been supplying all the separator plates, a core component of fuel cells for hydrogen passenger cars, using mold technology developed independently over the past 10 years. J&TG plans to supply gas diffusion layers, a fuel component it developed in-house, to manufacturers of fuel cells for vehicles and power generation. Gardneck supplies all the electrolyte membrane fixing films used in hydrogen car fuel cells. Also included are fuel cell manufacturers such as Doosan Fuel Cell, Bumhan Fuel Cell, S Fuel Cell, Ziphlos, and Hi-Air Korea; Wonil T&I, which produces hydrogen extractors such as hydrogen purifiers; and EM Solution and Daehwa, which design, construct, and test hydrogen charging stations.

The government plans to nurture 1,000 hydrogen specialized companies by 2040 through the 'Hydrogen Plus 1000' project announced in July last year and will provide specialized support programs for this purpose. It will focus on supporting R&D worth 30 billion KRW annually centered on hydrogen specialized companies in five major hydrogen material, component, and equipment sectors: mobility, fuel cells, charging stations, liquefied hydrogen, and water electrolysis. Excellent products developed through R&D support will be allowed to enter the public procurement market to open sales channels, and preferential financing will be provided to hydrogen specialized companies.

Minister of Trade, Industry and Energy Moon Seung-wook said, "We will spare no support to help hydrogen specialized companies grow into global leading companies," adding, "We will actively seek ways for our hydrogen-related companies, which are core to carbon neutrality and clean energy technology, to enter advanced markets such as the United States and cooperate with overseas companies."

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