To Drive Future Growth
Lotte Chemical is moving to enter the hydrogen mobility and battery materials businesses in earnest to secure future growth drivers.
The company signed a business agreement with Air Liquide Korea on May 20 to enter the hydrogen mobility market. They will jointly invest in establishing new high-pressure hydrogen shipping centers and hydrogen charging stations by utilizing Lotte Chemical's by-product hydrogen. They will also invest in liquefied hydrogen production facilities and collaborate in collecting and utilizing carbon dioxide, and developing high-pressure hydrogen tank technologies.
Through this, the two companies expect to create synergies in various fields of the hydrogen economy including blue hydrogen production, carbon dioxide reduction, and hydrogen distribution channel expansion.
Lotte Chemical is producing low-carbon by-product hydrogen at three domestic production bases in Yeosu, Daesan and Ulsan. The company has built a carbon capture and utilization (CCU) facility at Yeosu Plant to develop low carbon-based products.
Air Liquide is a world-class company with expertise and technology in hydrogen. As a world leader in industrial gas, it has strengthened its specialty across the hydrogen supply chain from hydrogen energy production to storage to distribution. It has designed and built over 120 hydrogen charging stations around the world.