Samsung Engineering Signs MOU for 'Green Ammonia Council for Carbon Neutrality'

Panoramic view of the Ma'aden Ammonia Plant in Saudi Arabia constructed by Samsung Engineering (Photo by Samsung Engineering)

[Asia Economy Reporter Jeong Hyunjin] Samsung Engineering announced on the 15th that it has signed a business agreement for the 'Green Ammonia Council for Carbon Neutrality' with domestic government agencies and companies, and will cooperate to establish and expand Korea's green ammonia value chain based on the import of overseas green hydrogen.

On the same day, Samsung Engineering signed a business agreement with 18 domestic government agencies and companies. The event held at Hotel ICC in Daejeon was attended online and offline by the CEOs of the 18 companies participating in this council, including Samsung Engineering President Choi Sung-an.

Green ammonia refers to ammonia converted from green hydrogen produced based on renewable energy, which is relatively easy to synthesize and transport. The parties to the agreement will cooperate in information exchange, technology development, standardization cooperation, and international exchange promotion to foster the green ammonia industry in each field such as production, transportation, extraction, and utilization.

Samsung Engineering stated that it plans to utilize its existing technology and experience in the conversion fields of ammonia such as synthesis and decomposition. It has technology and know-how from constructing medium to large-scale ammonia production plants worldwide in the Middle East, Latin America, and Asia, and has a network with global licensors (technology licensors) and global energy and chemical companies that possess core technologies, which Samsung Engineering intends to leverage.

Samsung Engineering plans to further accelerate business expansion in the fields of carbon neutrality and hydrogen through this cooperation. In addition to ammonia utilization, Samsung Engineering is continuously investing and promoting projects in overseas hydrogen project development and investment, hydrogen energy utilization, carbon capture, storage, and utilization, and other hydrogen energy and carbon neutrality fields.

In March, it initiated fostering venture companies related to hydrogen and CCUS technologies through a 30 billion KRW venture investment, and in April, it formed a green partnership with Lotte Chemical to expand carbon neutrality and eco-friendly businesses. Last month, it signed a business agreement with global energy company Baker Hughes on CCUS and hydrogen-related matters.

A Samsung Engineering official said, "Due to global climate change, there is worldwide attention on the utilization and technology of green ammonia," adding, "We will contribute to achieving the 2050 carbon neutrality goal by leveraging Samsung Engineering's technology and experience."

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