South Korean climate tech company LowCarbon has announced a partnership with the state of Florida to expand its presence in the US hydrogen market and construct research hubs for clean hydrogen technology in the United States.
The partnership is expected to participate in the $8 billion clean hydrogen hub project sought by the US Department of Energy and the Floridian government. LowCarbon will supply and distribute clean hydrogen, establish partnerships with diverse parties involved in the construction of research labs for Florida’s clean hydrogen hub project, and use the company’s carbon capture utilization and direct air capture technologies in aerospace industry sites such as Kennedy Space Center. LowCarbon also plans to hold a groundbreaking ceremony for its clean hydrogen production plant at the Mulberry site in Florida on June 6.
The state of Florida and LowCarbon signed a three-way memorandum of understanding with the aerospace economic development agency of Florida, Space Florida, and Ocean Green Hydrogen in February 2021 to initiate the clean hydrogen hub project. Florida Governor Ron DeSantis expressed his satisfaction with the partnership and emphasized the importance of LowCarbon’s carbon capture technology in building a clean hydrogen hub in central Florida. The deal also indicates that LowCarbon is expected to expand its hydrogen energy supply industry across the United States by collaborating with the Florida state government’s clean energy policies beyond the state of Florida.
LowCarbon’s entry into the US hydrogen market comes as the country continues to seek ways to reduce its carbon emissions and meet its clean energy targets. Clean hydrogen is one such solution that has gained momentum in recent years, given its potential to decarbonize various industries. The partnership is expected to contribute to the development of the US hydrogen economy, as the country aims to achieve net-zero emissions by 2050. However, challenges such as high production costs and lack of infrastructure could hinder the widespread adoption of clean hydrogen technology in the US.