Aims to Pre-empt Hydrogen Plant Market
Hyundai Engineering & Construction (Hyundai E&C) has been selected as the winner of a water electrolysis-based hydrogen production base construction project promoted by the Ministry of Trade, Industry and Energy, the company announced on June 2.
The company will form a consortium with the government of North Jeolla Province, the government of Buan County in the province, Jeonbuk Technopark and Techcross Water & Energy, to build facilities capable of producing, storing, and transporting more than one ton of hydrogen per day.
Water electrolysis decomposes water with electricity to produce oxygen and hydrogen on a large scale. It is attracting much attention as a core technology for clean hydrogen production that emits no or a small amount of carbon dioxide during a hydrogen production process.
The hydrogen production project is intended to expand the base for clean hydrogen production. Hyundai E&C is in charge of the basic and detailed design of the hydrogen production base including water electrolysis facilities and shipping and electricity lead-in facilities and the procurement of major equipment and construction.
In order to preoccupy the global water electrolysis hydrogen production plant market expected to grow to 1,800 trillion won in 2030, Hyundai E&C will expand cooperation with overseas water electrolysis companies, and will focus on securing strong capabilities in the hydrogen field such as hydrogen production.