Air Liquide and Lotte Chemical Enter a Strategic Alliance for the Hydrogen Supply Chain Deployment in South Korea
02 Maggio 2022 - 8:45AM
Business Wire
Regulatory News:
Air Liquide (Paris:AI):
Air Liquide Korea and Lotte Chemical entered a joint venture
to scale-up the hydrogen supply chain for mobility markets in South
Korea. The companies will co-invest through the joint venture in a
new generation of large scale hydrogen filling centers in Daesan
and Ulsan. They also expect multiple synergies and envision the
development of several opportunities to foster the rise of the
hydrogen economy in Korea.
Air Liquide joins forces with Lotte, one of the largest groups
in South Korea, to co-invest in a new generation of large
scale hydrogen filling centers in South Korea. The first two units
will be strategically located in the industrial basins of Daesan
and Ulsan to serve the densely populated regions of Seoul
metropolitan area and Gyeonggi province in the Northwest, and
Ulsan/Daegu/Busan metropolitan areas and Gyeongsang provinces in
the southeast.
Each actor will bring their complementary strengths. Air
Liquide will bring its expertise in design, manufacturing and
operation of key hydrogen technologies including for hydrogen
conditioning and distribution, and hydrogen refueling stations.
Lotte Chemical will bring its access to large quantities of
hydrogen, from its own off-gas sources located in South Korea's
main industrial basins of Daesan and Ulsan. These sites are
strategically located to host the conditioning hubs and refueling
stations, and leverage demand in hydrogen for its own fleet of
trucks group wide. The joint venture will be established with Air
Liquide Korea and Lotte Chemical investing 60% and 40% in this
entity respectively.
Supported by a strong political commitment, implemented through
its “Hydrogen Economy Roadmap”, South Korea is a frontrunner in
the shift towards a hydrogen economy and clean mobility. The
demand for hydrogen dedicated to mobility in South Korea is
expected to reach 100 tonnes per day by 2025 and over 1,000 tonnes
per day by 2030.
François Abrial, Member of the Air Liquide Group’s
Executive Committee supervising Asia Pacific, said: “We are
pleased to enter into this strategic alliance with Lotte Chemical,
a major industrial player, to join forces and accelerate the
development of the hydrogen sector in South Korea. Air Liquide is
committed to actively contribute and invest across the entire
hydrogen chain, from production to storage, as well as distribution
and application developments for end usages. In line with its
sustainability objectives, which include reaching carbon neutrality
by 2050, Air Liquide’s ambition is to contribute actively to the
emergence of a low-carbon society.”
A world leader in gases, technologies and services for Industry
and Health, Air Liquide is present in 75 countries with
approximately 66,400 employees and serves more than 3.8 million
customers and patients. Oxygen, nitrogen and hydrogen are essential
small molecules for life, matter and energy. They embody Air
Liquide’s scientific territory and have been at the core of the
company’s activities since its creation in 1902.
Taking action today while preparing the future is at the heart
of Air Liquide’s strategy. With ADVANCE, its strategic plan for
2025, Air Liquide is targeting a global performance, combining
financial and extra-financial dimensions. Positioned on new
markets, the Group benefits from major assets such as its business
model combining resilience and strength, its ability to innovate
and its technological expertise. The Group develops solutions
contributing to climate and the energy transition—particularly with
hydrogen—and takes action to progress in areas of healthcare,
digital and high technologies.
Air Liquide’s revenue amounted to more than 23 billion euros in
2021. Air Liquide is listed on the Euronext Paris stock exchange
(compartment A) and belongs to the CAC 40, CAC 40 ESG, EURO STOXX
50 and FTSE4Good indexes.
www.airliquide.com Follow us on Twitter
@airliquidegroup
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