SK E&S accelerates hydrogen value chain construction… Additional investment in joint venture
SK E&S is beginning to invest in the hydrogen field in earnest, including making additional investments in SK Plug Hybus, a joint venture focusing on the liquefied hydrogen charging business. The plan is to begin commercial operation of the world’s largest liquefied hydrogen plant with an annual capacity of 30,000 tons in the first half of this year and to build a hydrogen value chain from production to transportation and charging of liquefied hydrogen and blue hydrogen.
According to related industries on the 4th, SK E&S will invest a total of 44.7 billion won in its affiliate, SK Plug Hybus, twice this month and next July. The funds will be used to finance business investment and corporate operating expenses.
SK Plug Hybus is a hydrogen business joint venture established in January 2022 by SK E&S and American hydrogen company Plug Power. SK E&S and Plug Power each own a 51 to 49 stake.
Initially, SK E&S planned to make related investments twice in January and May of this year, but the schedule was adjusted.
Once the investment is completed, SK E&S’ total investment in SK Plug Hybus will increase to 98.8 billion won.
SK E&S plans to begin the hydrogen business, which it considers as its core future business, including this investment. In relation to this, SK E&S plans to produce up to 30,000 tons of liquefied hydrogen per year at the liquefied hydrogen plant in Wonchang-dong, Incheon, starting from the first half of this year. Currently, mechanical construction has been completed and test runs are underway.
In addition, approximately 40 liquefied hydrogen charging stations, which are infrastructure for distributing the produced liquefied hydrogen, are being built and are scheduled to begin operation in the first half of the year. SK Plug Hybus will begin building and operating this liquefied hydrogen charging station.
SK E&S plans to maximize the use of excellent domestic technology throughout the large-scale liquefied hydrogen production and distribution business, including the construction of liquefied hydrogen charging stations, to induce development of related industries and job creation. SK E&S is already collaborating with domestic companies with technological capabilities in various fields such as liquefied hydrogen tanks, low-temperature heat exchangers, and valves throughout the construction and operation process of the Incheon liquefied hydrogen plant. Last month, a business agreement was signed with KD Transportation Group and Hyundai Motor Company to ‘create an eco-friendly hydrogen mobility ecosystem in the metropolitan area.’
SK E&S is also accelerating the production of blue hydrogen using carbon dioxide capture and storage (CCS). We plan to produce low-carbon liquefied natural gas (LNG) by applying already commercialized CCS technology to Australia’s Barossa gas field, which has been in development since 2012, and to introduce an annual average of 1.3 million tons into the country to use for blue hydrogen production. SK E&S is conducting multilateral negotiations with Australia and East Timor to bury CO2 captured during the production of natural gas and blue hydrogen in the Bayou-Undan depleted gas field in East Timor, near Australia.
In this regard, SK E&S President Choo Hyung-wook said in his New Year’s address this year, "In 2024, we will achieve the goal of improving all businesses through continuous business model innovation and optimization, organic connection between the four major businesses (LNG, hydrogen, renewable energy, and energy solutions), and strengthening of complementary synergies. He emphasized, “We need to improve our fundamental competitiveness,” and “We need to create tangible results in the transition to a green portfolio and global expansion.”
kim091@fnnews.com Reporter Kim Young-kwon
Plugia seuraavien facebook ryhmästä kopioitu, SK E&S julkaisu päivätty tänään 4.3.
SK E&S julkaisi investointi tiedotteen Plugin ja SK E&S yhteistyöhön liittyen. Investointi aikeista oli tiedotettu jo aiemmin, mutta toteutukset siirtyivät muutamalla kuukaudella. Nyt investoinnit, ja aikataulut lyöty lukkoon.
Tähän kun yhdistetään jenkkien strategia hyötyliikenteen vedynjakeluverkoston (ja ev latasupisteiden) pystyyn nostamiseksi niin saadaan maukas kokonaisuus.