A ceremony in Seoul was held to establish the joint venture with Air Liquide Korea, according to Lotte Chemical. Lotte Chemical holds 40% of the joint venture, with the French business-owning 60%. Their investment amount was not revealed.
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By 2030, Lotte Chemical would invest a total of ten trillion won in hydrogen and battery materials, which are critical…
The two businesses want to create a carbon-neutral and environmentally friendly business relationship by efficiently leveraging each company’s know-how and infrastructure to extend the hydrogen value chain and contribute to the vitalization of the hydrogen economy as a result of this agreement.
The pilot facilities will be used to evaluate Lotte Chemical’s hydrogen tank manufacturing technology.
Lotte Chemical Co., a large petrochemical corporation in South Korea, plans to invest 4.4 trillion won ($3.8 billion) in the hydrogen business by 2030 in order to reduce carbon emissions and develop the new growth driver.
