Lotte Chemical Mobility joint venture for hydrogen supply is established

Lotte Chemical and Air Liquide Korea announced on the 6th that they have completed the establishment of a joint venture to expand the hydrogen supply chain for mobility.

The two companies signed a memorandum of understanding (MOU) for hydrogen business cooperation in May last year, and signed a contract to set up a joint venture in April this year. The joint venture ratio is 4 for Lotte Chemical and 6 for Air Liquid Korea.

The company name was set as “Lotte Air Liquid Enerhi Co., Ltd.”. It is a compound word of ‘energy’ and ‘hydrogen’ (hydrogen), in the sense that it will drive the energy transition in the internal hydrogen energy market, starting with mobility. The first representative is Kim So-mi, vice president of Air Liquid Korea. The project will start in the second half of 2024 and will have the largest hydrogen production capacity in Korea (5,500 tons per year). 5500 tons per year are enough to supply 4400 passenger cars per day.

A Lotte Chemical official said, “We plan to build an additional shipping center in Ulsan to target the southern region.”

Reporter Kim Jae-hoo [email protected]

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