Air Liquide has formed a joint venture with Lotte Chemical, to build a supply chain for hydrogen cars using by-product hydrogen. Following a strategic partnership agreement in May 2021, this is the first stage of collaboration.
A ceremony in Seoul was held to establish the joint venture with Air Liquide Korea, according to Lotte Chemical. Lotte Chemical holds 40% of the joint venture, with the French business-owning 60%. Their investment amount was not revealed.
To temporarily store by-product hydrogen before exports, the joint venture will develop shipping facilities in Lotte Chemical’s manufacturing bases in Daesan, 70 kilometers (43 miles) southwest of Seoul, and in the southeastern industrial port of Ulsan. The two firms would work together to develop and expand the hydrogen transportation sector.
By-product hydrogen from Lotte Chemical would be used in hydrogen commercial cars. In a statement, LOTTE Chemical’s basic materials division chief Hwang Jin-goo stated, “The formation of this joint venture is a crucial step in developing a hydrogen ecosystem in South Korea.”
In order to develop a hydrogen supply chain, Air Liquid Korea is in charge of offering specialized technology for hydrogen shipping facilities and distribution. “We will develop a competitive hydrogen supply chain for the future hydrogen clean mobility industry in South Korea starting with this new joint venture integrating the expertise of the two firms,” Air Liquide Korea President Guillaume Cottet was reported as saying.
The joint venture was formed after the two corporations signed a memorandum of agreement in May 2021 to invest in liquefied hydrogen production and collaborate in the acquisition of high-pressure hydrogen tank technology. The two firms expect synergistic impacts in different parts of the hydrogen economy, including blue hydrogen generation, carbon dioxide reduction, and hydrogen distribution channel extension.
By employing gas separation membranes to boost the purity of captured carbon dioxide and convert it to key industrial components, Lotte Chemical has created carbon capture utilization technology.
