Daeyang Metal Partners with Hylium Industries, a Specialized Liquefied Hydrogen Mobility Platform Company, "Targeting the Hydrogen Market"

[Asia Economy Reporter Yoo Hyun-seok] Daeyang Metal is partnering with a company that independently developed the world's first mobile liquefied hydrogen refueling station, liquefied hydrogen tank technology, and liquefied hydrogen drones to establish a liquid hydrogen value chain and take the lead in the hydrogen market.

Daeyang Metal announced on the 9th that it signed a memorandum of understanding (MOU) with Hylium Industries (hereinafter Hylium) for comprehensive hydrogen business cooperation, including mass production of liquefied hydrogen. Prior to this, Daeyang Metal secured the position of the second-largest shareholder through recent equity investment in Hylium.

Through this MOU, Daeyang Metal plans to strengthen cooperation as a funding investor and business partner for the full-scale mass production of Hylium's ▲hydrogen drones ▲liquefied hydrogen tanks ▲liquefied hydrogen tank lorries ▲liquefied hydrogen refueling stations, including joint research and development.

Hylium is a specialized company in the 'liquefied hydrogen mobility platform' that holds the only domestic original technology in the fields of liquefied hydrogen production, storage, and transportation safety. In 2014, it independently developed hydrogen liquefaction technology that cools hydrogen below minus 253 degrees Celsius to produce liquefied hydrogen, as well as liquefied hydrogen storage and transportation technologies, for the first time in Korea. Based on this, it developed ultra-light liquefied hydrogen mobility tanks, hydrogen liquefiers, mobile liquefied hydrogen refueling stations, hydrogen power packs for unmanned aerial vehicles and ships, and liquefied hydrogen drones.

Additionally, in April, Hylium was selected as the first investment company in the liquefied hydrogen sector by the Gangwon Creative Economy Innovation Center and is currently installing Korea's first liquefied hydrogen-type hydrogen refueling station. It also plans to produce the world's first fuel cell ship based on liquefied hydrogen.

Hylium's technological prowess in the liquefied hydrogen field is already recognized globally. In 2015, it won the highest award from the American Cryogenic Engineering Conference for its hydrogen liquefier, succeeded in flying a drone powered by the world's first liquefied hydrogen power pack in 2016, and showcased the world's first mobile liquefied hydrogen refueling station at the 2018 PyeongChang Olympics.

In 2019, it provided core technology for the flight of Skai, the world's first air taxi company using liquefied hydrogen fuel, Alakai, in the United States. Currently, it supplies liquefied hydrogen tanks, liquefied hydrogen chargers, and liquefied hydrogen refueling station technology to domestic companies such as Hyundai Motor Company, SK Gas, Hanwha, as well as global mobility companies like Volvo.

The strengths of liquefied hydrogen lie in the pressure required for storage, its small volume, and fast refueling speed. Liquefied hydrogen has a volume 800 times smaller than solid or gaseous hydrogen, allowing storage at atmospheric pressure, which provides a significant safety advantage for storage containers. Also, due to its low storage pressure, the explosion risk is significantly lower compared to conventional high-pressure gaseous hydrogen.

While gaseous hydrogen refueling takes about 10 minutes, liquefied hydrogen refueling takes 1 minute and 30 seconds, similar to gasoline refueling speed. Furthermore, gaseous hydrogen refueling stations require about 250 pyeong (approximately 826 square meters) of land, but liquefied hydrogen refueling stations need only about 80 pyeong (approximately 265 square meters), about one-third of the size, making them easier to install in expensive urban areas.

A Daeyang Metal official said, "While companies worldwide are rushing to enter the hydrogen business, the domestic hydrogen distribution and storage market alone is estimated to be worth 800 billion KRW," adding, "As a shareholder and cooperation partner of Hylium, a hydrogen energy specialist company that independently developed Korea's first cryogenic liquefied hydrogen technology, we expect to create synergy."

He continued, "Starting with cooperation in manufacturing Hylium's lightweight drone liquefied hydrogen tanks using Daeyang Metal's stainless steel thin plates, we plan to expand mutual cooperation areas," adding, "We will achieve tangible results with Hylium, which possesses liquefied hydrogen-related technologies expanding into various industries such as automobiles, drones, ships, and aviation."

Meanwhile, hydrogen, called an 'energy carrier,' can store surplus energy and convert it into heat and electricity when needed, attracting attention as a future energy source. McKinsey has focused on hydrogen's storage potential and forecasts the hydrogen market size to reach 2940 trillion KRW by 2050.

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