In order to gain new momentum, Korean Fuel Cell Innovation is counting on its new hydrogen fuel cell plant in Pohang, North Gyeongsang Province.
The company intends to spend a total of 150 billion won ($115 million) by 2027 to build an automated plant at Pohang’s Blue Valley National Industrial Complex to manufacture components for hydrogen fuel cells. In a statement made at the Pohang International Hydrogen Fuel Cell Forum, the corporation reaffirmed its dedication to working with the city of Pohang.
Pohang Mayor Lee Kang-deok and FCI CEO Lee Tae-won met to begin the development of a “gigafactory.” One gigawatt of fuel cells will be produced annually at the new FCI factory. 1,500 new employment in the city are anticipated to be created by the factory.
The company and the Korean refinery S-Oil struck a business deal in July to jointly develop environmentally friendly hydrogen, fuel cells, and renewable energy. The agreement contains comprehensive plans for the construction of an ammonia decomposition facility for the production of hydrogen, technology for solid oxide fuel cells that can be made from liquefied natural gas, liquefied petroleum gas, ammonia, and hydrogen, as well as a project to acquire carbon capture and recycling methods.
An establishment in Daejeon that can create 3 megawatts worth of 1.5 kilowatt solid oxide fuel cells annually and utilize them to power homes and buildings was opened by FCI earlier this month.
Additionally, the state-owned Korea Gas Safety Corp. granted the firm manufacturing approval in October to produce commercial hydrogen products. The company also announced plans to introduce 45-kilowatt solid oxide fuel cells early in the following year for use in big and medium-sized buildings.
By 2024, large capacity fuel cells will be ready for usage in ships, according to FCI. As a cooperative effort with the Korea Evaluation Institute of Industrial Technology and other partner companies, the project was launched in 2020. According to FCI, significant system trials with shipbuilding firms were finished in October.
