Air Liquide and Lotte Chemical enter into strategic alliance
Published by Bella Weetch,
Editorial Assistant
Global Hydrogen Review,
Air Liquide Korea and Lotte Chemical entered a joint venture (JV) to scale up the hydrogen supply chain for mobility markets in South Korea. The companies will co-invest through the JV in a new generation of large-scale hydrogen filling centers 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 has joined forces with Lotte, one of the largest groups in South Korea, to co-invest in a new generation of large-scale hydrogen filling centers 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 its complementary strengths. Air Liquide will bring its expertise in design, manufacturing and operation of key hydrogen technologies including for hydrogen conditioning and distribution, and hydrogen refuelling stations. Lotte Chemical will bring its access to large quantities of hydrogen, from its own 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 refuelling stations, and leverage demand in hydrogen for its own fleet of trucks group-wide. The JV 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 tpd by 2025 and over 1000 tpd by 2030.
Read the article online at: https://www.globalhydrogenreview.com/hydrogen/04052022/air-liquide-and-lotte-chemical-enter-into-strategic-alliance/
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