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Hydrogen infrastructure

Construction of a 20MW fuel cell power plant in Jecheon, Chungcheongbuk-do

by Chief editor of world-today-news.com January 18, 2023

written by Chief editor of world-today-news.com

[월간수소경제 박상우 기자] A 20MW-class hydrogen fuel cell power plant will be built in Jecheon, North Chungcheong Province.

Jecheon City announced on the 18th that it had signed an investment agreement with Jecheon Cheongpung Fuel Cell for a hydrogen fuel development project worth KRW 130 billion.

Jecheon Cheongpung Fuel Cell is a special purpose corporation (SPC) established for this project, 100% invested by SD Electricity, an eco-friendly energy company.

According to the agreement, Jecheon Cheongpung Fuel Cell will build a hydrogen fuel cell power plant with a power generation capacity of 20MW on a 6,310㎡ site in the 3rd industrial complex by March 2025.

The power plant will produce 160,000 MW of electricity annually and supply it to companies in the Jecheon Industrial Complexes 1-3.

Hong Jin-hyeon, CEO of Jecheon Cheongpung Fuel Cell, said, “Thanks to the active administrative support of Chungbuk-do and Jecheon City, we decided to invest in the future of the company in the Jecheon 3rd Industrial Complex, which has good traffic conditions in all directions.” We will strive to become a company that gives back.”

“We will actively support Jecheon Cheongpung Fuel Cell so that it can grow and settle down as a company that walks the future of the energy industry,” said Mayor Kim Chang-gyu.

January 18, 2023 0 comments

Business

H2KOREA turns on water for Korea-US hydrogen cooperation

by Chief editor of world-today-news.com January 12, 2023

written by Chief editor of world-today-news.com

[월간수소경제 이종수 기자] The Hydrogen Convergence Alliance (Chairman Moon Jae-do, hereinafter H2KOREA) announced on the 12th that Korea has decided to participate as a Host Country in the ‘2023 Hydrogen and Fuel Cell Seminar (HFCS)’ to be held in Los Angeles, California from February 7th to 9th. revealed

‘HFCS’ is a representative international hydrogen industry-related event in North America with a history of about 40 years. It is a prestigious event in which governments and companies from many countries participate, and is supported by the US government.

H2KOREA, Hyundai Motor Company, SK E&S, Korea Zinc, Mikopower, and KOREA H2 Business Summit participating in this event held a launching ceremony after signing business agreements between participating organizations and companies for a successful event on the 12th.

Korea’s leading companies, including H2KOREA, held the ‘Korea-US Hydrogen Cooperation Roundtable’ during the ‘HFCS’ event, which was held for three days from February 7th to 9th. Special events for guest countries will be held, such as organizing a ‘Special Session for Guest Countries’ to publicize economic policies and discuss cooperation between the two countries, and △ operating a ‘Korea Public Relations Center’ to introduce Korea’s hydrogen industry.

In addition, along with the Ministry of Trade, Industry and Energy and the Korea Trade-Investment Promotion Agency (KOTRA), it will publicize the current status of Korea’s hydrogen economy implementation and share excellent private success stories.

At a time when both Korea and the United States are actively promoting the implementation of the hydrogen economy at the national level to realize carbon neutrality, it is expected that this guest country participation will serve as an opportunity to open the door to practical cooperation in the hydrogen industry field between the two countries.

Moon Jae-do, chairman of H2KOREA, said, “We will participate in the ‘HFCS 2023’ event as a guest of honor to prepare a venue for discussions on hydrogen cooperation between Korea and the US, and to visualize a specific cooperation model through high-level meetings with the US Department of Energy and related organizations and companies.”

January 12, 2023 0 comments

Business

Determining the grounds for subsidy support for the production/import of green hydrogen

by Chief editor of world-today-news.com January 11, 2023

written by Chief editor of world-today-news.com

[월간수소경제 박상우 기자] Reasons are given for subsidies for the production and import of green hydrogen.

On the 11th, Democratic Party MP Kim Seong-hwan proposed a partial amendment to the Hydrogen Economy Nurturing and Hydrogen Safety Management Act, which prepares the basis for supporting subsidies during the production and import of green hydrogen.

The current law, which was revised in June last year, includes the concept of clean hydrogen, which is divided into carbon-free, low-carbon and low-carbon hydrogen compounds, a certification system of clean hydrogen for all grades and administrative procedures and financial support for those who produce and use clean hydrogen.

However, green hydrogen does not receive adequate support compared to gray hydrogen. It is necessary to actively expand the supply of carbon-free hydrogen for carbon neutrality, but the production cost is significantly lower than gray hydrogen using oil, coal and natural gas.

While gray hydrogen is priced from $1 to 2.2 per kg, green hydrogen is priced from $3 to 7.2 per kg, a 3 to 4 times difference, making green hydrogen less competitive in the price. According to the Korea Management Research Institute, the price of green hydrogen is expected to fall between US$1.4 and US$2.3 per kilogram around 2030.

However, gray hydrogen is an unsuitable energy source in the carbon-neutral era because it emits carbon during the production process. On the other hand, green hydrogen is valued as a key technology for carbon neutrality because it does not emit carbon because it is produced by the electrolysis of water with renewable energy. The green hydrogen market is expected to reach $300 billion (about 375 trillion won) in 2050, so it’s very important to care about the technology.

For this reason, rumors are growing that government-level competitiveness assistance is needed until the economic feasibility of green hydrogen is achieved. However, in Korea, there is no basis for support to ensure the competitiveness of green hydrogen under the current law, and the government’s plan for this year is also focused on promoting gray hydrogen.

This amendment includes the content that the government subsidizes the production difference between gray hydrogen and producers or importers of carbon-free hydrogen produced using renewable energy. It aims to activate the supply of carbon-free hydrogen and actively achieve carbon neutrality.

Countries around the world are already preparing policies to support green hydrogen produced from renewable energies. The European Union has included a plan to introduce a carbon difference support contract (CCFD) system in REpowerEU, an energy conversion policy, to pay the difference in the cost of producing green hydrogen and gray hydrogen under form of subsidy.

The United States has added the world’s first green hydrogen tax credit system to the Inflation Reduction Act (IRA). Germany also plans to provide subsidies when green hydrogen produced outside the country is imported and supplied to Korea. Samil Accounting Firm expects the global green hydrogen market to reach US$300 billion (about 375 trillion won) by 2050.

Representative Kim Seong-hwan said, “For the energy transition focusing on renewable energy and the decarbonization of the industrial structure, the supply of green hydrogen needs to be further accelerated. It is a regrettable reality that the safety of green hydrogen is delayed due to lack of economic viability, and industrial competitiveness is also lagging behind.”

January 11, 2023 0 comments

Business

SK E&S successful in sourcing PF for Incheon liquid hydrogen project

by Chief editor of world-today-news.com December 23, 2022

written by Chief editor of world-today-news.com

[월간수소경제 이종수 기자] IGE, a subsidiary of SK E&S in the liquefied hydrogen sector, managed to raise corporate funds worth around KRW 360 billion from a state-owned financial institution.

SK E&S announced on the 23rd that IGE recently signed a financial project financing (PF) agreement for the Incheon liquefied hydrogen plant project.

IGE is a subsidiary of SK E&S established in March 2021 to promote business such as the production and sale of liquefied hydrogen, and is promoting the construction of a 30,000 tons per year liquefied hydrogen plant in Incheon.

Korea Development Bank (KDB), Korea Export-Import Bank (KEXIM) and IBK Industrial Bank, which are government-run financial institutions, participated as major shareholders in this FP. Lenders have successfully completed financial deals to support the hydrogen industry through joint cooperation.

With the signing of this PF agreement, SK E&S’ plan to create an ecosystem for the hydrogen industry is expected to gain more momentum. SK E&S plans to build a liquefied hydrogen production plant with an annual capacity of 30,000 tons in Incheon and supply liquefied hydrogen to liquefied hydrogen filling stations nationwide from the second half of 2023.

An SK E&S official said: “With this agreement, we will be able to bear the investment costs steadily.”

December 23, 2022 0 comments

Business

Hanwha Construction Division promotes hydrogen production business using biogas

by Chief editor of world-today-news.com December 21, 2022

written by Chief editor of world-today-news.com

[월간수소경제 박상우 기자] Hanwha E&C is promoting a project to produce hydrogen with Panasia and biogas.

Hanwha Construction Division announced on the 20th that it has signed a commercial agreement for hydrogen production using biogas with Panasia, an eco-friendly facility specialist, at the Hanwha Building in Jangjang-dong, Seoul.

Under this agreement, the two companies intend to ensure competitiveness in green hydrogen production technology for carbon neutrality by continuously discussing further cooperation measures, including joint development and commercialization of hydrogen production technology using biogas.

Biogas is a gas generated in the process of decomposition of organic waste such as sewage residues, food waste and manure.

Panasia is an eco-friendly facilities company specializing in the business of carbon dioxide capture and storage (CCS), including biogas business, hydrogen purification using natural gas and ammonia. The high purity adsorption separation process (PSA) which purifies hydrogen to high purity and the water gas transfer process (WGS) which increase the efficiency of hydrogen production have been developed with 100 domestic technology %.It is a leading company in the field of carbon neutrality in Korea.

Earlier this year, Hanwha Construction Division won a private investment project to modernize facilities of Daejeon Sewage Treatment Plant with a total project cost of KRW 721.4 billion.

In the future, if Hanwha E&C’s know-how in the field of environmental facilities and Panasia’s technology are combined, synergies are expected in the field of hydrogen production using biogas.

As such, Hanwha E&C is preparing to leapfrog as a “green infrastructure developer” by focusing on the new and renewable energy sector to lead the zero carbon era.

We plan to develop a wind power generation complex with a total capacity of 2 GW by 2030 and ensure competitiveness in the field of green energy business by producing hydrogen using waste plastic pyrolysis oil and ensuring production technologies of biogas and green hydrogen using organic waste resources. plan to secure.

December 21, 2022 0 comments

Business

Opening of the “Hydrogen Safety Museum” to experience the safety and value of hydrogen

by Chief editor of world-today-news.com December 15, 2022

written by Chief editor of world-today-news.com

[월간수소경제 박상우 기자] The Hydrogen Safety Museum was opened, an educational center on hydrogen gas safety experience where you can directly experience the safety of hydrogen energy and its differentiation as a future energy.

On the 15th, the Ministry of Commerce, Industry and Energy and the Korea Gas Safety Corporation held an opening ceremony for the Hydrogen Safety Museum at Chungbuk Innovation City in Eumseong, Chungcheongbuk-do.

As one of the promotion tasks for comprehensive hydrogen safety management measures announced by the Ministry of Industry in December 2019, the establishment of a “Hydrogen Safety Experience Center” has been promoted since 2020 to spread a culture of hydrogen safety.

Korea Gas Safety Corporation, a project promotion agency, selected Chungbuk Innovation City through an open competition for local governments in June 2020. A hydrogen safety experience center was built across the country.

The exterior of the Hydrogen Safety Experience Hall is a structure in which three circular buildings are organically connected, embodying the endless cycle of hydrogen being converted into “hydrogen-energy-water”.

The hydrogen safety advertising room, a key space, is made up of six spaces divided into three themes: △Meeting Hydrogen △Producing Hydrogen, Safety △Hydrogen, Dreaming.

In “Meet Hydrogen”, you can experience the eco-friendliness of hydrogen that comes from nature and returns to nature as water through immersive video and sound. “Hydrogen, making safety” is an indirect experience of the safety of hydrogen storage containers through videos and exhibition models of the container manufacturing process and safety verification tests. It is a corner where you can learn about leak detectors and flame detectors through the Experience Cube.

“Hydrogen, dream” provides insight into the future hydrogen energy society in 2050 through videos and models, and provides insight into the significance of the hydrogen economy, international trends and hydrogen safety through videos, and provides insight into the crisis of climate change and future hydrogen It was created so that you can experience the whole city in 4D images.

In addition, the Hydrogen Safety Experience Center has been named the “Hydrogen Safety Museum” so that the public can feel more friendly and interested in the Hydrogen Safety Experience Center, and the Hydrogen Safety Museum logo and font with the pattern of atoms hydrogen and element symbols were also developed.

The Hydrogen Safety Museum plans to open on December 15 and start full-scale operations from March next year after a three-month temporary operation period.

During the interim operation period, Korea Gas Safety Corporation plans to supplement or add exhibition content and experience programs through the operation of a preliminary inspection team.

December 15, 2022 0 comments

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