South Korea is taking a giant leap towards its green hydrogen ambitions with the recent memorandum of understanding (MOU) signed by SK E&S, Plug Power, K-water, and SK Plug Hyverse. The strategic partnership, inked on November 3, is set to not only expand the distribution of green hydrogen but also invigorate the entire industry.
This agreement signifies a comprehensive collaboration across five key business domains. First and foremost, the companies will focus on establishing and operating national green hydrogen production facilities. These facilities will play a pivotal role in realizing South Korea’s clean energy goals. Additionally, the MOU includes acquiring operational technology, which is crucial for the efficient functioning of green hydrogen facilities.
Moreover, the partners plan to expand their domestic and overseas green hydrogen businesses. The international dimension of this endeavor is a testament to South Korea’s commitment to becoming a global leader in the green hydrogen market. The companies will also explore new ventures in the ever-evolving field of green hydrogen technology.
SK Plug Hyverse, a joint venture between SK E&S and Plug Power, is set to lead the charge in supplying and maintaining polymer electrolyte membrane (PEM) electrolysis facilities. These facilities are integral to the production of green hydrogen through the process of water electrolysis, which is a cornerstone of South Korea’s renewable energy goals.
One of the most significant aspects of this agreement is the commitment to localize PEM electrolysis technology. This technology is recognized as a linchpin for the production of green hydrogen. SK Plug Hyverse plans to build a Gigafactory in South Korea to mass-produce PEM electrolysis facilities. This initiative is based on the technological capabilities and expertise of Plug Power, which has a track record of supplying and operating PEM electrolysis facilities on a global scale.
In addition to this, SK E&S is actively participating in water electrolysis demonstration projects in Jeju Island, with capacities of 3.3 MW and 12.5 MW. These projects serve as testbeds for green hydrogen production technologies and demonstrate South Korea’s commitment to embracing green hydrogen on a domestic scale.
This groundbreaking MOU is a testament to South Korea’s determination to lead the green hydrogen revolution. It paves the way for significant advancements in the production, distribution, and utilization of green hydrogen in the country and beyond, ushering in a new era of sustainable energy. The cooperation between SK E&S, Plug Power, K-water, and SK Plug Hyverse has the potential to reshape the global hydrogen landscape.