▷ Embarking on hydrogen-based power generation business… proposing the blueprint for Net-Zero 2040
▷ Opportunity to reinforce image as global hydrogen company and to commence new businesses
Kolon Industries (CEO Hee-Koo Jang) took part in the <H2 MEET 2022 (former Hydrogen Mobility+ Show)> held in Kintex, Ilsan, from August 31 to September 3. In its latest Sustainability Report, Kolon Industries released that it will accelerate its hydrogen power generation business through inter-affiliate cooperation based on its technological excellence in hydrogen parts and materials, and thereby achieve Net-Zero 2040 in all business sites in Korea by 2040.
Kolon Industries has been adding speed in its hydrogen fuel cell research since 2006. It was the first Korean company to mass produce membrane humidifiers, a core part for hydrogen vehicles, and is supplying them to Hyundai Motor Company. It is seeking to extend the application for industrial use, in addition to mobility.
The company is mass producing Polymer Electrolyte Membrane (PEM), a key material in making fuel cells for hydrogen vehicles, since 2020, based on which it established the Membrane Electrode Assembly (MEA) production base. Likewise, with its technology and mass production capability that comprehensively cover the key parts and the infrastructure of the hydrogen industry, Kolon Industries is positioning itself as a differentiated integrated solution provider in the field of hydrogen materials and parts.
Furthermore, the company is expanding the external cooperation system to drive “Net-Zero 2040.” In July, it signed the MOU with Deokyang in order to establish a cooperative basis for supply of hydrogen that is essential in fuel cell power business and production of green hydrogen (hydrogen generated by splitting water with renewable energy) and blue hydrogen (hydrogen produced while reducing carbon emissions supported by carbon capture and storage) using wind power. It also entered into the MOU with the Israeli Airovation in July to drive new businesses by developing Net-Zero solutions with the combination of its own technological capability and Airovation’s carbon capture & utilization (CCU) solutions.
Kolon Industries plans to construct hydrogen fuel cell power plants- a vast integration of hydrogen technologies- in its local business sites. Once the PEM fuel cell based power plant that uses Kolon Industries’ PEM, which is already in the market, is built, hydrogen-based power production will become feasible, taking Kolon Industries a step closer to achieving net-zero in its local business sites.
Hee-Koo Jang, CEO of Kolon Industries, commented that “we are actively engaging with external companies that have relevant core technologies that can be combined with Kolon’s 30-year knowhow in hydrogen business. We will solidify our position as a sustainable technology creator.”
Other affiliates within the Kolon Group that engage in hydrogen business also participated in the event. At the <H2 Summit Investor Day> in July, Kolon Group presented the Kolon H2 Platform, which encompasses production, transport and storage of clean hydrogen, and power production using clean hydrogen.
As the number 1 company in Korea’s wind energy sector, Kolon Global plans to produce clean hydrogen through water electrolysis, using nighttime and idle power that is generated due to the nature of wind energy. It is also driving its blue hydrogen production business using natural gas. Kolon Glotech and Kolon Plastics are developing the hydrogen fuel tank for safe storage and transport of produced hydrogen, and plan to apply optimized applications in broad industrial areas including ships, trains, drones and airplanes.
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