- Signed an MOU on September 7
for the Sarawak H2biscus Green
Hydrogen Project to supply hydroelectric-power-based renewable
power.
- The four companies and Sarawak Energy aims to produce green
hydrogen from 2027 by conducting joint research to find a stable
power supply for hydrogen production and completing the feasibility
study by this year.
- "If the discussion on the power supply is successfully
progressed, the H2biscus project will be the hub of hydrogen supply
in Asia", said Byeong-og Yoo,
Senior Executive Vice President.
SEOUL, South Korea,
Sept. 15, 2022 /PRNewswire/
-- POSCO Holdings will cooperate with Samsung Engineering,
Lotte Chemical, Malaysian Sarawak Economic Development Corporation
Energy, and Malaysian Sarawak Energy for Green Hydrogen Business
for Sarawak's green H2
business.
On September 7, POSCO Holdings
signed an MOU about cooperation on supplying hydroelectric-based
renewable power for the Malaysia Sarawak H2biscus Green Hydrogen
Project with Samsung Engineering, Lotte Chemical, Sarawak Economic
Development Corporation Energy, and Malaysian Sarawak Energy.
This January, POSCO Holdings, Samsung Engineering, and Lotte
Chemical signed an MOU with SEDC Energy to build a partnership for
the Sarawak green hydrogen
project. This time, the new MOU signing for the collaboration of
renewable power supply with Sarawak Energy is expected to boost the
Sarawak hydrogen project.
With the MOU signed, the five parties agreed to conduct joint
research for a stable power supply under the H2biscus project,
which will use min. 900MW of power, and check the preparations for
substation, power line, and other infrastructural facilities. Based
on the result of the co-research, the ongoing feasibility study
will be finalized by this year, aiming to start production of green
H2 from the end of 2027.
The green hydrogen produced from the Sarawak project will amount to 200,000 tons.
Except for 7,000 tons used in Malaysia, the rest of the H2 will be moved to
Korea in the form of ammonia, which is expected to help the country
facilitate the national H2 economy and achieve the carbon
neutrality goal. In particular, POSCO Holdings, Samsung
Engineering, and Lotte Chemical will continue to develop green H2
projects overseas to take the lead in introducing green hydrogen to
Korea.
Besides, POSCO GROUP is actively taking action to secure
differentiated business capabilities and technological prowess over
the entire hydrogen value chain from H2 production, transport,
storage, and usage. While participating in multiple outstanding
projects of green H2 output in Australia and the Middle East, POSCO is also focusing on its
capabilities in high-temperature electrolysis technology (producing
H2 through electrolysis of water at high temperatures) and ammonia
decomposition technology (producing H2 by reforming ammonia). POSCO
GROUP aims to grow into the nation's biggest H2 player with the
highest demand and supply by equipping itself with the production
system for 7 million tons of H2 by 2050, at home and abroad.
Photo -
https://mma.prnewswire.com/media/1899522/H2biscus______________MOU__1.jpg