S-Oil Begins Research and Development in Fuel Cell and New Energy Businesses
Hydrogen Fuel Cell Specialist Company FCI Collaborates on R&D
Jung-Ik Lee, Executive Director of S-Oil (left), and Taewon Lee, CEO of FCI, are signing a research and development business agreement at the FCI headquarters in Yuseong-gu, Daejeon on the 29th.
View original image[Asia Economy Reporter Oh Hyung-gil] S-OIL has begun research and development (R&D) on eco-friendly hydrogen, fuel cells, and new energy businesses in collaboration with a fuel cell specialist company.
On the 1st, S-OIL announced that it signed a research and development cooperation agreement with FCI, which provides clean energy solutions based on fuel cells.
The two companies agreed to join forces in researching and demonstrating diversification of hydrogen fuel cell fuels, which are gaining attention as next-generation energy sources, and in commercializing these technologies. They will conduct domestic and international demonstration projects and international joint research to secure technologies such as hydrogen production process development through ammonia decomposition, fuel-customized solid oxide fuel cell (SOFC) product technologies for LNG, LPG, ammonia, and hydrogen, and carbon dioxide capture and reuse technologies using fuel cells.
They also plan to collaborate on blue and green hydrogen production and utilization technologies, production technologies for 'e-Fuel' and 'e-Chemical' using green hydrogen, and the development of hybrid power generation projects combining fuel cells and renewable energy.
S-OIL officially entered the hydrogen industry by acquiring a 20% stake in FCI in March last year, establishing a strategic partnership. FCI is a Korea-Saudi joint venture holding over 40 patents related to solid oxide fuel cells (SOFC).
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An S-OIL official stated, "We plan to establish a research and development cooperation system to lead competitive eco-friendly hydrogen, fuel cell, and new energy businesses by effectively combining the infrastructure and know-how owned by the company, including the S-OIL Technology Development Center in Magok, Seoul."
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