Plug Power, K-Water and SK Plug Hyverse sign MoU

SK E&S announced the collaboration, following the signing of an MoU between SK E&S, K-water, Plug Power, and SK Plug Hyverse at Plug Power’s Vista plant in Albany County, New York. This partnership aims to promote the growth of green hydrogen and rejuvenate the industry.

Through this agreement, the four companies will bolster their alliance leveraging their unique strengths to pioneer the forthcoming era of green hydrogen. Their cooperation will encompass various aspects of the business, such as development of national green hydrogen production facilities and the acquisition of operational technologies. They will also collaborate to boost the competitive edge of the domestic green hydrogen industry including the expansion of both domestic and international green hydrogen ventures, as well as the exploration of new business opportunities.

With this objective in mind, SK Plug Hyverse, a joint venture (JV) between SK E&S and Plug Power, is set to provide and manage PEM electrolysers, for both domestic and international green hydrogen projects. In addition, SK Plug Hyverse will engage in joint research and development efforts with K-water to enhance the operational technology of green hydrogen production facilities. Moreover, there are plans for further business collaborations and joint entry into overseas markets in the future.

Parties involved have also agreed to collectively pursue the promotion of PEM electrolysis technology, a crucial component in green hydrogen production. SK Plug Hyverse is planning to manufacture PEM electrolysers in Korea, while K-water seeks to offer essential business and technical support for localisation and foster the growth of domestic green hydrogen enterprises within the water industry.

Read the article online at: https://www.globalhydrogenreview.com/hydrogen/09112023/plug-power-k-water-and-sk-plug-hyverse-sign-mou/