Hyundai Glovis Launches Eco-Friendly Brand 'ECOH'... Accelerates Hydrogen and Battery Business

New Business Roadmap Including Green Hydrogen Maritime Transport

Photo by Hyundai Glovis

[Asia Economy Reporter Dongwoo Lee] Hyundai Glovis is expanding its business scope to include hydrogen and electric vehicle battery sectors through the launch of a new eco-friendly brand.

Hyundai Glovis announced on the 4th that it will launch an eco-friendly energy solution brand called ‘ECOH’. ECOH is a compound word combining 'ECO', meaning environment, and 'HUMAN', meaning people.

The company plans to actively utilize ECOH in eco-friendly businesses such as hydrogen distribution and electric vehicle battery recycling. For the hydrogen business, it is considering using brand names like 'ECOH Logistics' or 'ECOH Station', which incorporate English words reflecting the characteristics of a logistics company, and for the electric vehicle battery business, it is considering the brand name 'ECOH Storage', combining the English word for storage.

From Hydrogen Production Sites to Consumption Points... A Key Player in the Entire Process

Hyundai Glovis has devised a strategy to leverage its expertise as a supply chain management company to play a major role across all areas of hydrogen production, storage, transportation, and supply, providing optimal services to build a hydrogen value chain.

The company plans to first expand its hydrogen distribution and infrastructure operation business, increasing the number of hydrogen shipment centers to nine by 2030 and supplying hydrogen to more than 360 charging stations nationwide. It will also carry out projects such as green hydrogen distribution and related infrastructure operation overseas in Oceania and the Middle East, as well as independently developing domestic green hydrogen demand sites.

To efficiently advance its business, Hyundai Glovis has formed a consortium with leading domestic companies and established strategic partnerships with global ammonia producers. Ammonia, known as a symbol of green hydrogen, is considered the most efficient hydrogen storage and transportation medium. Ammonia, a compound of hydrogen and nitrogen, can be transported by sea and green hydrogen can be extracted from ammonia at demand sites.

Green hydrogen transport is planned to be promoted through two ultra-large gas carriers (VLGC) scheduled for construction in 2024, with additional shipbuilding considered as volumes increase. The company is also interested in the storage and transportation business of liquefied hydrogen and plans to enter the liquefied hydrogen production and distribution market in 2024 by establishing strategic partnerships with global hydrogen specialists.

In line with the hydrogen supply obligation system (HPS) implemented since 2022, Hyundai Glovis is considering entering the hydrogen fuel cell power plant construction business and the sales business of onshore power supply devices for eco-friendly port development. A Hyundai Glovis official said, “Seeing the growth potential of the hydrogen economy, we are proactively fostering domestic hydrogen logistics and global hydrogen maritime transport businesses.”

Expanding Business Areas through EV Battery Collection Logistics-Based Charging and Reuse

Hyundai Glovis has made the battery, a core component of electric vehicles, another pillar of its eco-friendly business. Following the current electric vehicle battery lease demonstration project, it plans to establish future strategies based on demonstrations of V2G (Vehicle to Grid) technology.

With the surge in electric vehicle demand this year, it is expected that a large number of used batteries will be released after the typical usage cycle of electric vehicle batteries (7 to 10 years) ends around 2028, so the company is preparing for battery collection and recycling businesses.

Earlier this year, Hyundai Glovis developed and patented a ‘platform container’ capable of transporting used electric vehicle batteries regardless of their form. Used EV batteries can be reused for other purposes or recycled for raw materials extracted from them.

Noting that batteries can still provide storage capacity even after their lifespan ends, the company is also planning a UBESS (Used Battery Energy Storage System) business to recycle batteries as energy storage systems (ESS).

A Hyundai Glovis official said, “Through electric vehicle battery charging and recycling businesses, we will establish our position as a comprehensive platform operator in the eco-friendly energy power market.”

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