The shipbuilding branch of South Korean Hyundai Heavy Industries Group, Korean Shipbuilding and Offshore Engineering (KSOE), is gearing up for a breakthrough in delivering hydrogen as a clean fuel alternative.
Hydrogen can be stored in a liquefied state, but the use of this technology is associated with costs many times higher than the cost of producing liquefied natural gas
Since the whole world is focused on the transition to environmentally friendly types of energy, in the near future hydrogen may become the main type of fuel in energy, industry and transport, gradually replacing coal, fuel oil, diesel fuel, gasoline and natural gas.
Andreas Beckers, CEO of thyssenkrupp, said the company is currently working on a memorandum of understanding with Egypt’s Ministry of Electricity to build a green hydrogen plant, as well as developing a program to develop young talent from various universities to instill an entrepreneurial spirit in them.
ExploMar, a Shanghai-based startup, sells hydrogen-powered marine power systems. Its founders came from a variety of backgrounds, including automakers, shipbuilders, energy corporations, and other businesses.
This Memorandum of Understanding involves a partnership for the construction of a prospective clean hydrogen hub in Middle Arm, Darwin, Northern Territory; a new potential North Western Australian Hydrogen Hub; and additional collaborations throughout Australia.
It also has a battery for storing electrical energy. It has 12 hydrogen tanks on board and can travel for up to 599 kilometers at a time. The maximum load capacity is 4.5 tons, which is the same as cleaning trucks that run on compressed natural gas (CNG).
The South Korean textile and chemicals company announced on Monday that it will invest 1 trillion won ($836 million) in Sinan, a southern port county in South Jeolla Province, to establish green hydrogen production facilities.
