VT GMP Signs MOU to Utilize Microalgae Technology for Carbon Reduction

by Ryu Hyunseok

Published 09 Sep.2021 14:28(KST)

[Asia Economy Reporter Yoo Hyun-seok] VT GMP announced on the 9th that it has signed a business agreement (MOU) with Kyungnam Pharmaceutical, Cloud Air, and KJ Green Energy, focusing on the utilization of microalgae technology for carbon reduction.

VT GMP obtained a power generation business license from the Ministry of Trade, Industry and Energy's Electricity Committee on December 24, 2019. On June 8, it purchased a site of approximately 16,528㎡ in Zone 4 within the Gumi High-Tech Valley, capable of operating a total of 90MW, to proceed with a hydrogen fuel cell power generation project.

This agreement aims to apply technology that grows microalgae using carbon dioxide generated during hydrogen fuel cell power generation for carbon reduction, and in the long term, to pioneer and commercialize zero carbon emission future technology at hydrogen fuel cell power plants. Additionally, through the microalgae technology business for carbon reduction, it is expected to secure a stable supply and increase profitability of high-priced, high-functionality cosmetics and bio-functional products using high value-added bio-material extracts produced. VT GMP is also expected to secure carbon emission rights through this project.

By applying VT GMP’s laminating technology, carbon dioxide generated is used to grow microalgae, from which lutein and astaxanthin are extracted. These can be utilized in the development of high-functionality cosmetics and bio products.

According to the business agreement, ▲ VT GMP will commercialize cosmetics and bio products using microalgae extracts and collaborate on laminating technology, ▲ Kyungnam Pharmaceutical Co., Ltd. will produce and extract microalgae linked to fuel facilities and develop health functional foods and fish feed using extracts and by-products, ▲ Cloud Air will produce microalgae using its proprietary industrial microalgae strains, four-season photobioreactor technology, and LED technology, ▲ KJ Green Energy will commercialize microalgae greenhouse heat supply and carbon reduction facilities for the Gumi High-Tech fuel cell power generation project and systematize carbon reduction technology.

A VT GMP official stated, “Through this business agreement, we plan to proceed with microalgae utilization projects based on the technological capabilities of each institution,” adding, “It is expected to have a significant effect on carbon reduction by systematizing carbon reduction using microalgae.”