[Asia Economy Reporter Hyunseok Yoo] Nano announced on the 6th that it will expand its Green New Deal-related business by focusing on the 'NL Catalyst,' an SCR catalyst for LNG power generation, as a new growth engine.
The NL Catalyst is a high-density stacked SCR catalyst that can be applied to power plants, ships, industrial plants, and incinerators using liquefied natural gas (LNG) as fuel. Even in LNG power generation, an eco-friendly power generation method, some nitrogen oxides are emitted in the exhaust gas, but the NL Catalyst can reduce them to harmless nitrogen and water vapor through an ammonia reaction.
The company expects the NL Catalyst to serve as a long-term cash cow. It completed mass production facilities for business development last year and plans to complete the expansion of an improved high-efficiency line within this year to embark on full-scale business growth.
The government is also actively supporting Nano's NL Catalyst. Nano was already selected as one of the 'Top 100 Promising Green New Deal Companies' last year and was also chosen as a 'Green Innovation Company' by the Ministry of Environment, receiving approximately 2.25 billion KRW in funding by the end of 2022 to commercialize the NL Catalyst.
The global increase in demand for LNG power generation is also encouraging. According to the International Energy Agency (IEA), global LNG power generation facilities are increasing by about 2% annually, and an additional 1365 GW of capacity will be required by 2040. Nano is also expected to develop overseas markets, focusing on the United States and Europe.
A Nano official said, "As the eco-friendly and Green New Deal trends spread, interest in our technology and business is increasing," adding, "Since the NL Catalyst can be applied to various fields such as LNG power plants and LNG-powered ships, demand will continue to grow."
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