A memorandum of understanding (MOU) for “hydrogen production through recycling plastic resources and cooperation in hydrogen usage linked projects” has been signed by Hyundai Engineering and Korea East-West Power.
According to the commercial agreement, the two businesses will collaborate on a variety of initiatives, including the manufacture of hydrogen from recycled plastic resources, the use of hydrogen in fuel cells, and the use of hydrogen and ammonia as fuels in power plants.
In particular, Hyundai Engineering intends to use its brand-new “recycling plastic resource company” to manufacture hydrogen and deliver it to Korea East-West Power. The supplied hydrogen is utilized as a marketing tool for the initiative to create electricity using hydrogen fuel cells.
Hyundai Engineering is planning to construct a 96,167m2 recycling plastic resource plant in the Songsan 2 general industrial complex in Dangjin after signing an agreement to occupy an industrial complex in Dangjin-si, Chungcheongnam-do, in July of last year. It aspires to begin commercial production in 2026 and has a production goal of 24,000 tons of hydrogen per year from 134,000 tons of recycled plastic.