LOTTE Chemical and Air Liquide Korea signed an MOU to enter the hydrogen mobility market at the Jamsil LOTTE World Tower on the 20th. This MOU ceremony was attended by LOTTE Chemical Basic Business President Jin Goo Hwang and Air Liquide Korea President Guillaume Cottet.

Awareness has been growing for hydrogen as a key element for energy conversion to respond to global climate change. Through this MOU, the two companies decided to integrate each company’s strengths to expand the eco-friendly hydrogen economy.

LOTTE Chemical and Air Liquide plans to utilize LOTTE Chemical’s byproduct hydrogen to jointly invest in the construction of a new high pressure hydrogen shipping center and hydrogen charging stations, and expand development of the mobility market starting in the capital area and spreading nationwide. In addition to this, plans are to use the advanced technologies of the two companies to invest in liquefied hydrogen production facilities needed to enter the eco-friendly hydrogen society, while also collaborating in carbon dioxide collection and utilization, and high-pressure hydrogen tank technologies.

Accordingly, the two companies expect that there will be synergy effects in various aspects of the hydrogen economy such as blue hydrogen production, reduction of carbon dioxide, and expansion of hydrogen distribution channels.

LOTTE Chemical currently produces various basic and advanced petrochemical products and produces low-carbon byproduct hydrogen at three production bases (Yeosu, Daesan, Ulsan). Furthermore, it constructed facilities applying CCU (Carbon Capture Utilization) technologies at the Yeosu Plant to develop low-carbon based product manufacturing technologies.

Air Liquide possesses the world’s best expertise and technologies in the hydrogen sector and is well known as a company devoted to hydrogen energy. As a world-leading company in the industrial gas sector, it has built expertise throughout the hydrogen supply chain from hydrogen energy production to storage and distribution over the past 50 years. In particular, it is contributing to the wide use of hydrogen as a clean energy source in the mobility sector, and it has designed and constructed over 120 hydrogen charging stations around the world up to now.

LOTTE Chemica Basic Materials Business President Jin Goo Hwang said, “We are excited that LOTTE Chemical and Air Liquide Korea will be able to jointly enter the Korean hydrogen market with this MOU,” adding, “The two companies will play important roles in the hydrogen industry by continuously expanding in the hydrogen market that will grow in the future.”

Air Liquide Korea President Guillaume Cottet said, “I am very happy with this MOU that signals the start of a strong partnership with LOTTE Chemical for the goal of fostering a sustainable mobility hydrogen business in Korea.” He added, “This partnership contains our will to use Air Liquide’s technologies and expertise on gas and liquid hydrogen production and supply chains to convert industrial trucks using LOTTE Chemical’s byproduct hydrogen into eco-friendly hydrogen fuel cell trucks. The complementing strengths of the two companies will be actively utilized in this project thus fitting with Air Liquide’s and LOTTE Chemical’s ESG strategies to contribute to the development of a more sustainable future.