The filling center to be built on a site within Lotte Chemical's plant in Daesan, about 70 kilometers (43 miles) southwest of Seoul, will utilize by-product hydrogen from Lotte Chemical as its first project that targets clients in Seoul and nearby areas. Commercial operation is to begin in the second half of 2024.
Kim So-mie, vice president of Air Liquide Korea's H2E division, was appointed as the first president of the joint venture named "Lotte Air Liquide Ener’Hy" that will consider building an additional hydrogen filling center in the southeastern industrial city of Ulsan.
Air Liquide Korea said that the joint venture was part of a strategic alliance to scale up a hydrogen supply chain for mobility markets. The French company controls 60 percent of the joint venture and Lotte Chemical owns 40 percent. The size of their investment was not disclosed.
The two companies anticipate synergy effects in various aspects of the hydrogen economy such as blue hydrogen production, the reduction of carbon dioxide, and the expansion of hydrogen distribution channels.
Lotte Chemical aims to invest six trillion won ($4.57 billion) in the production of 1.2 million tons of green hydrogen by 2030. In July 2022, the company tied up with Itochu Corporation, a trading company in Japan, to cooperate in ammonia trading, the utilization of ammonia infrastructure, the development of hydrogen and ammonia markets, and joint investments in green ammonia production facilities.
Ammonia is considered an essential part of a sustainable hydrogen ecosystem due to its stability in supply and relatively easy storage and transportation. Ammonia can be used directly as a fuel in high-temperature fuel cells, internal combustion engines and gas turbines.
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