Air Liquide Korea and Lotte Chemical entered a joint venture to scale up the hydrogen supply chain for mobility markets in South Korea.
The companies will co-invest through the joint venture in a new generation of large scale hydrogen filling centres in Daesan and Ulsan. They also expect multiple synergies and envision the development of several opportunities to foster the rise of the hydrogen economy in Korea.
Air Liquide joins forces with Lotte, one of the largest groups in South Korea, to co-invest in a new generation of large scale hydrogen filling centres in South Korea. The first two units will be strategically located in the industrial basins of Daesan and Ulsan to serve the densely populated regions of Seoul metropolitan area and Gyeonggi province in the Northwest and Ulsan/Daegu/Busan metropolitan areas and Gyeongsang provinces in the southeast.
Each actor will bring their complementary strengths. Air Liquide will bring its expertise in the design, manufacturing and operation of key hydrogen technologies, including hydrogen conditioning and distribution and hydrogen refuelling stations. Lotte Chemical will bring its access to large quantities of hydrogen from its off-gas sources located in South Korea’s main industrial basins of Daesan and Ulsan. These sites are strategically located to host the conditioning hubs and refueling stations, and leverage demand for hydrogen for its own fleet of trucks group-wide. The joint venture will be established with Air Liquide Korea and Lotte Chemical investing 60% and 40% in this entity, respectively.
Supported by a strong political commitment, implemented through its “Hydrogen Economy Roadmap”, South Korea is a frontrunner in the shift towards a hydrogen economy and clean mobility. The demand for hydrogen dedicated to mobility in South Korea is expected to reach 100 tonnes per day by 2025 and over 1,000 tonnes per day by 2030.
François Abrial, Member of the Air Liquide Group’s Executive Committee supervising the Asia Pacific, said, “In line with its sustainability objectives, which include reaching carbon neutrality by 2050, Air Liquide’s ambition is to contribute actively to the emergence of a low-carbon society.”