[미디어SR 정혜원 기자] It is noteworthy after Hanwha Solutions intends to acquire a US hydrogen tank manufacturer. Hanwha Solutions previously declared a leap forward as a global total energy solution company. Accordingly, it is expected to accelerate the establishment of a value chain (supply chain) ranging from production of hydrogen within the group to storage, transportation, and charging.
According to the investment banking (IB) industry, Hanwha Solutions is known to be pursuing the acquisition of Delay Holdings, a U.S. hydrogen tank manufacturer. An official from Hanwha Solutions showed a cautious attitude to the media SR on the 23rd, saying, “It is still in the stage of review, so there is no specific decision.”
In the industry, Hanwha Solutions is expected to acquire 100% of Delay Holdings for tens of billions of dollars.
In order to use hydrogen as an energy source, hydrogen must be compressed and stored at high pressure during transportation. For this reason, securing the basis for the production of high-quality tanks is considered the starting point for hydrogen power generation.
Hanwha Solutions already acquired Taekwang Fujikin, a high-pressure tank equipment manufacturer, in December of last year. Taekwang Fujikin is a company that mass-produces tanks for hydrogen filling stations and hydrogen tanks for trucks.
Hanwha Solutions previously revealed its ambition to build a value chain of’green hydrogen’ and emphasized preemptive investment. It also proposed a goal to achieve sales of 21 trillion won and operating profit of 2.3 trillion won in 2025 through the eco-friendly energy business. It is an aspiration to grow six times compared to last year’s operating profit of 378.3 billion won of Hanwha Solutions.
Green hydrogen is hydrogen produced without any carbon emission during the hydrogen production process, and refers to hydrogen produced mainly by renewable energy such as solar power or wind power. Hydrogen currently used in the domestic market accounts for more than 50% of by-product hydrogen using by-products of petrochemical processes and hydrogen extracted by reforming natural gas. However, these two methods, called’grey hydrogen’, have a limitation in that they leave a carbon footprint such as carbon dioxide (CO2).
An official of this company said, “At the company level, we highly appreciate the growth potential of the full-cycle supply chain leading to production, storage, transportation, and charging of green hydrogen. “We plan to produce green hydrogen using water electrolysis technology that electrolyzes water based on one energy.”
On the 21st, Hanwha Solutions also announced a capital increase worth 1.2 trillion won. Hanwha Solutions plans to invest 200 billion won in hydrogen production and 100 billion won in hydrogen storage and distribution, respectively.
In addition, it plans to invest 2.8 trillion won in solar and green hydrogen businesses by 2025, and actively engage in M&A companies with core technologies in each sector, such as hydrogen storage and distribution. Through this, Hanwha Solutions has set the goal of establishing a value chain that covers the entire hydrogen business process.
It is known that Hanwha Solutions is currently researching and developing (R&D) water electrolysis technology (the process of producing hydrogen by electrolyzing water) with the aim of commercialization in 2023. Water electrolysis technology is the key technology for the production of’green hydrogen’.
In addition, Hanwha Solutions is strengthening cooperation among affiliates within the group to expand the synergy effect of the hydrogen business. The strategy is to maximize profitability by cooperating with Hanwha Energy, which built the world’s first by-product hydrogen power plant in Daesan, Chungcheongnam-do, and Hanwha Power System, which supplies a hydrogen charging system to Korea Gas Corporation.
Hanwha Solutions expects its hydrogen business to reach 2 trillion won (cumulative) over five years. Already, the operating profit up to the third quarter is 5288 billion won. In this regard, Dong-gwan Kim, CEO of Hanwha Solutions’ Strategy Division, said, “Amid the growing importance of responding to climate change to enhance sustainability, the global energy market is facing a great turning point.” We will make real results for a sustainable future and increase shareholder value.”