SK E&S and Plug Power Joint Liquefied Hydrogen Refueling Station and Full-Scale Hydrogen Business

Joint Venture 'SK Plug Hyverse'
Review of Business Progress and Future Plans

SK E&S announced on the 27th that it will officially launch a joint venture project to create a domestic hydrogen ecosystem, starting with the construction and operation of a liquefied hydrogen refueling station by the end of this year in collaboration with global hydrogen company Plug Power.

On the 19th, Chu Hyung-wook, President and CEO of SK E&S, and Andy Marsh, CEO of Plug Power, met at the SK Seorin Building in Jongno-gu, Seoul, to discuss hydrogen business. The two CEOs evaluated this year, when SK E&S's liquefied hydrogen production and supply plans are becoming visible, as the first year for the joint venture to fully start, and agreed on the need to strengthen cooperation to successfully promote the domestic joint venture with an investment of about 1 trillion KRW.

CEO Marsh visited Korea from the 17th to the 19th to review the business of the joint hydrogen venture 'SK PlugHyverse.' The two companies established SK PlugHyverse in January last year. During his visit, CEO Marsh inspected the construction site of the world's largest Incheon liquefied hydrogen plant with an annual capacity of 30,000 tons, scheduled for completion within the year, to check SK E&S's preparations for the liquefied hydrogen business. He also visited the Gangseo public garage, the only hydrogen bus-exclusive refueling station in Seoul, to observe actual operation cases of domestic hydrogen refueling stations.

Chu Hyung-wook, President and CEO of SK E&S, and Andy Marsh, CEO of Plug Power, are taking a commemorative photo at the SK Seorin Building in Jongno-gu, Seoul on the 18th.
[Photo by SK E&S]

SK PlugHyverse plans to operate liquefied hydrogen refueling stations in line with the commercial operation start of SK E&S's Incheon liquefied hydrogen plant by the end of this year. When SK E&S produces liquefied hydrogen, SK PlugHyverse will supply liquefied hydrogen to hydrogen mobility such as vehicles, buses, and trucks through liquefied hydrogen refueling stations established at major locations nationwide. Additionally, SK E&S, CJ Logistics, and Korea Integrated Logistics signed a 'Green Hydrogen Logistics Complex Creation Memorandum of Understanding' and agreed to cooperate in the early development and distribution of fuel cells to be used in hydrogen forklifts and other applications.

An SK E&S official stated, "We will establish the domestic hydrogen ecosystem early and use it as a stepping stone to enter the Asian hydrogen market, thereby securing leadership in the global hydrogen industry."

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