HD Korea Shipbuilding & Offshore Engineering, Collaborates with Korean and US Companies to Advance World's Largest Blue Hydrogen Project

MOU Signed in the US with GE, Plug Power, and SK E&S
"A Catalyst for Achieving Carbon Neutrality and Advancing the Hydrogen Industry"

HD Hyundai Heavy Industries announced on the 26th that on the 25th (local time), during President Yoon Suk-yeol's visit to the United States, it signed a Memorandum of Understanding (MOU) for investment cooperation in the full-cycle business of blue hydrogen production, distribution, and utilization with GE, Plug Power, and SK E&S at the 'Korea-US Advanced Industry Clean Energy Partnership' event hosted by the Ministry of Trade, Industry and Energy. Through this agreement, the participating companies plan to establish a hydrogen value chain that produces, distributes, and utilizes 250,000 tons of blue hydrogen annually in Korea.

HD Hyundai Heavy Industries will build the world's first large-capacity liquefied carbon dioxide carrier with a capacity of 40,000㎥ to transport the carbon dioxide captured during the blue hydrogen production process. GE will apply hydrogen co-firing and full-firing turbine technologies based on its gas turbine core technology to domestic power plants and promote commercialization. Initially, a high-efficiency hydrogen co-firing gas turbine with a co-firing rate of about 50% will be manufactured and introduced domestically.

(From right) Jo Seok, President of HD Hyundai Electric; Roger Martella, Chief Sustainability Officer of GE; Lee Chang-yang, Minister of Trade, Industry and Energy; George McNamee, Chairman of the Board of Plug Power; and Chu Hyung-wook, President of SK E&S, are posing for a commemorative photo at the signing ceremony for the business cooperation agreement on full-cycle project investment for blue hydrogen production, distribution, and utilization held on the 25th (local time) in Washington D.C., USA.
[Photo by HD Korea Shipbuilding & Offshore Engineering]

Plug Power plans to establish a joint venture with SK E&S to build a gigafactory in Incheon for producing fuel cells and water electrolysis facilities, and use the power generation fuel cells produced there for clean hydrogen power generation. SK E&S will produce blue hydrogen with carbon dioxide removed by applying CCS technology starting in 2026, and supply it nationwide for power generation and mobility through gaseous hydrogen pipelines and liquefied hydrogen charging stations.

Cho Seok, President of HD Hyundai Electric, said, “This project will serve as a catalyst for achieving carbon neutrality in Korea and advancing the hydrogen industry,” adding, “We will strive to build a clean energy ecosystem based on our technological capabilities in the shipbuilding and marine sectors.”

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