"Developing Eco-Friendly Fuel Utilizing Existing Gas Station Infrastructure" Hyundai Oilbank Collaborates with Danish Company

Kang Dal-ho, CEO of Hyundai Oilbank (left), and Roland Baan, CEO of Halodotopso, signed a memorandum of understanding for eco-friendly technology cooperation via video conference on the 4th.

[Asia Economy Reporter Choi Dae-yeol] Hyundai Oilbank signed a memorandum of understanding on the 4th with Denmark's Haldo Topso to collaborate on eco-friendly technologies. Haldo Topso is a company holding patents in the eco-friendly energy and chemical sectors, and they agreed to jointly research and develop e-fuel, considered an eco-friendly fuel. This is a new concept synthetic fuel made by electrolyzing water to obtain hydrogen and then mixing it with carbon dioxide and other substances.

According to the company, e-fuel can replicate properties similar to gasoline or diesel without mixing any crude oil. Although carbon dioxide is emitted during combustion, it is possible to capture and reuse the emitted carbon dioxide repeatedly, establishing a carbon-neutral resource circulation system.

Additionally, there is the advantage of being able to utilize existing gas station infrastructure as is. Hydrogen and electric vehicles, which are spotlighted as next-generation fuels and mobility means, require large-scale investments to establish charging infrastructure. The company explained that e-fuel is considered one of the realistic next-generation power sources as it converts existing internal combustion engine vehicles into eco-friendly cars. German Porsche and Japanese automakers are producing or researching this fuel.

Denmark's Haldo Topso is known for its advanced technology in green hydrogen, which involves separating hydrogen from blue and green ammonia or producing hydrogen by electrolyzing water using renewable energy. Hyundai Oilbank is promoting a carbon capture and utilization (CCU) business that captures carbon dioxide and recycles it into eco-friendly building materials or industrial carbon dioxide. Based on the technology accumulated so far, they plan to jointly develop e-fuel technology.

Kang Dal-ho, CEO of Hyundai Oilbank, said, "In addition to hydrogen and carbon dioxide utilization including e-fuel, we will engage in technological cooperation in various eco-friendly fields such as biofuels and recycling of waste plastics."

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