[Asia Economy Reporter Hyungsoo Park] JNK Heater, the only domestic company specializing in industrial furnaces and hydrogen extractors, is showing strong performance. As it continues to secure projects related to hydrogen industry infrastructure, expectations for an increase in corporate value are growing. Interest in the hydrogen industry is rising as hydrogen truck company Nikola's market capitalization approached 30 trillion KRW on its first day of listing.
At 10:52 AM on the 29th, JNK Heater was trading at 8,890 KRW, up 20.14% from the previous trading day.
On the 26th, JNK Heater was selected as the preferred negotiation partner for supplying and constructing hydrogen extractors and hydrogen shipment facilities for the hydrogen production base construction project being promoted in Changwon, Gyeongnam.
This project will be established in Seongju-dong, Changwon City, producing 1,000 kg of hydrogen per day. It will supply not only the Seongju hydrogen charging station but also hydrogen charging stations and industrial sites operating within the jurisdiction. With support from a national R&D project, JNK Heater has already installed an extractor capable of producing 500 kg of hydrogen per day at the same production base and is currently operating hydrogen production.
Earlier, on the 24th, JNK Heater signed an agreement with the Korea Institute for Advancement of Technology, the dedicated agency for the Ulsan Hydrogen Green Mobility Regulatory Free Zone project, to carry out the project “Construction and Demonstration of Hydrogen Charging Stations for Hydrogen Fuel Cell Ships.”
JNK Heater is the lead organization, with participation from Deokyang Co., Ltd., Korea Gas Safety Corporation Gas Safety Research Institute, and Smart Ocean Co., Ltd. This project is closely linked with another Ulsan regulatory free zone project, “Development and Demonstration of Eco-friendly Small Ships Applying Hydrogen Fuel Cell Propulsion Systems.”
As a demonstration project, various safety aspects required for constructing hydrogen charging facilities for hydrogen fuel cell ships will be reviewed, and based on this, facility construction guidelines will be prepared. After consultation with government ministries, charging facilities will be built at the demonstration site within the regulatory free zone by February next year, and charging tests for hydrogen fuel cell ships will be completed by the end of next year. Using data obtained from the demonstration project, charging procedures for hydrogen ships will be established, and related legal grounds for charging station construction will be proposed to government ministries.
A JNK Heater official explained, "This is JNK Heater’s first hydrogen charging station project starting in Ulsan," and added, "Through the project, we will actually charge hydrogen fuel cell ships and secure related data, ultimately proposing legal grounds for constructing hydrogen charging facilities for hydrogen ships." He further stated, "Above all, safety in facility construction and operation will be the top priority when proposing legislation."
Hyundai Motor Company is also increasing interest in hydrogen fuel cell ships by deciding to support domestic eco-friendly ship startups. According to related industries, Hyundai Motor is expected to sign a memorandum of understanding (MOU) with ‘Vinsen,’ a small ship company applying hydrogen fuel cell propulsion systems, for hydrogen fuel cells and technical support as part of hydrogen economy activation.
The International Maritime Organization (IMO) has committed to reducing greenhouse gas emissions from ships by 50% compared to 2008 levels by 2050, which is expected to increase demand for hydrogen fuel cell ships. According to forecasts by Japan’s Ministry of Economy, Trade and Industry, the hydrogen fuel cell ship market is projected to reach 100 trillion KRW in scale.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
