ETSU Oil announced on the 1st that it has signed a business agreement to build a R&D cooperation system with FCI, which provides clean energy solutions based on fuel cells.
The two companies decided to gather strength for research and demonstration of hydrogen fuel cell fuel diversification, which is noted as a next-generation energy source, and for commercialization using it.
To this end, we will conduct demonstration projects at home and abroad and international joint research to develop hydrogen production processes through ammonia decomposition, fuel custom solid oxide fuel cell(SOFC) product technologies such as LNG, LPG, ammonia, and hydrogen, and to secure carbon dioxide capture and reuse technologies using fuel cells.
In addition, we decided to work together on the development of blue and green hydrogen production and utilization technologies, e-fuel and e-chemical production technologies using green hydrogen, and fuel cells and renewable energy fusion power generation projects.
ETSU Oil secured a 20% stake in FCI in March last year, establishing a strategic partnership and entering the hydrogen industry. FCI is a South Korean-Saudi joint venture with over 40 solid oxide fuel cell(SOFC) patents. In addition, we have established a global R&D network with leading research institutions such as Switzerland and the United States, and have established partnerships with various companies and research institutions, such as collaborating to develop products suitable for Korean and overseas markets.
“We plan to effectively combine the infrastructure and know-how of the company, such as the ETSU Oil Technology Development(R&D)Center in Magok, Seoul, to establish a R & D cooperation system to lead the competitive, eco-friendly hydrogen, fuel cell, and new energy business,”said an ETSU Oil official.