Hyosung Group will build the world’s largest liquefied hydrogen plant with Linde Group, the number one global industrial gas company.
Hyosung Heavy Industries announced on the 5th that it has signed a joint venture (JV) investment agreement with Linde Korea, a Korean subsidiary of Linde Group, to promote the liquefied hydrogen business. The two joint ventures that the two sides agreed to establish are Linde Hydrogen, which is in charge of producing liquefied hydrogen, and Hyosung Hydrogen, which is in charge of sales.
Linde Hydrogen plans to build a 13,000 ton-year liquefied hydrogen plant at Hyosung Chemical’s Ulsan Yongyeon Plant in 2023. 100,000 hydrogen cars can be used for one year.
When the plant is completed, it will become the world’s largest single liquid hydrogen plant. Hyosung Hydrogen is responsible for distributing liquefied hydrogen produced here in Korea. To this end, it has decided to build an infrastructure for charging liquid hydrogen in more than 120 locations nationwide. It was decided to expand the facilities of more than 70 existing hydrogen charging stations and build 50 new ones.
When the gaseous hydrogen is liquefied, the volume is reduced to one in 800, which is advantageous for storage and transportation. However, since the temperature had to drop to -253 degrees Celsius, few companies have succeeded in the liquid hydrogen business so far. Hyosung decided to preoccupy the hydrogen energy market in cooperation with Linde Group, which has experience in commercializing liquid hydrogen.
With the establishment of a joint venture, Hyosung will build a hydrogen value chain that encompasses the production of liquefied hydrogen, transportation, and installation of charging facilities. Hyosung Chairman Cho Hyun-joon said, “We will solidify our status as a leading company in the hydrogen industry by equipping the value chain from hydrogen energy production to distribution and sales systems.”
120 charging infrastructures are also installed
From production to distribution and sales… Completion of the’hydrogen economy’ value chain
Hyundai Motor Company’s hydrogen fuel cell car Nexo can be bought for just over 30 million won. The original price is over 70 million won, but government subsidies of around 33 million won come out. Nevertheless, the Nexo sold only 5786 units last year. The total number of hydrogen cars registered in Korea is 10,000 as of the end of last year.
The reason is that it is too difficult to charge. There are only 50 charging stations across the country, including three in Seoul. It is difficult to transport and store hydrogen, making the establishment of a charging station slow. In the industry, if gaseous hydrogen can be liquefied and its volume can be significantly reduced, the establishment of charging stations and the supply of hydrogen vehicles are expected to proceed rapidly. Hyosung paid attention to this part.
○ Aim to preoccupy the market with liquefied hydrogen
Hyosung started producing and distributing liquefied hydrogen through a joint venture (JV) investment contract with Linde Group on the 5th because it has a very large advantage over existing gaseous hydrogen. To move hydrogen from the gaseous state, each tank lorry vehicle can only carry a maximum of 250 kg. However, if it is liquefied and transferred, the maximum weight increases to 3500 kg. Transportation costs can be drastically reduced. In the industry, hydrogen, like liquefied natural gas (LNG), needs to be distributed in a liquefied state to rapidly expand infrastructure.
Charging time is also greatly reduced. It takes about 12 minutes to charge a single Nexo hydrogen car now. The actual charging time is 2 to 3 minutes, but it takes about 10 minutes to increase the pressure again after charging. This is why only 5 to 6 units can be charged in an hour at a hydrogen charging station. Liquid hydrogen can be shortened to 3-4 minutes. It takes much less time to adjust the pressure and temperature.
However, lowering the temperature to -253 degrees to liquefy is considered a technical challenge. This is why Hyosung joined hands with Linde Group. Linde is the world’s largest industrial gas company, launched in 2018 by a 5 to 5 merger between Linde of Germany and Praxair of the United States. In 2019, sales reached 28 billion dollars (about 33 trillion won). It is equipped with the world’s largest liquefied hydrogen production plant and transport system, and operates more than 200 hydrogen charging stations and about 80 hydrogen electrolysis plants.
○Hyosung Chemical is produced using by-product hydrogen
Hyosung plans to expand its business with Linde in the entire hydrogen value chain, such as liquid hydrogen production, transportation and distribution. First of all, Linde Hydrogen, a joint venture established by Hyosung Heavy Industries and Linde, will complete the construction of a liquefied hydrogen production plant in the Ulsan plant of Hyosung Chemical in early 2023. The liquefied hydrogen produced here is distributed by Hyosung Hydrogen, another joint venture. To this end, it was decided to build liquefied hydrogen charging stations in more than 120 locations nationwide.
Hyosung Heavy Industries has the most experience in establishing hydrogen charging stations in Korea. Hyosung Heavy Industries has built 22 out of 50 hydrogen charging stations in Korea. Hyosung Hydrogen plans to quickly supply liquid hydrogen charging facilities by using Hyosung Heavy Industries’ hydrogen charging station infrastructure.
Hyosung is also developing fuel tank materials for hydrogen vehicles. Hyosung Advanced Materials plans to produce fuel tanks for hydrogen vehicles using carbon fiber technology. We are currently doing a empirical test.
Hyosung Chairman Cho Hyun-joon said, “We will solidify our status as a leading company in the hydrogen field by equipping the energy production, distribution, and sales system, which is the key to vitalizing the hydrogen economy.”
Reporter Ahn Jae-kwang [email protected]