Announcement of the 'Kolon H2 Platform' Value Chain Platform Covering Hydrogen Production, Storage, Transportation, and Power Generation Business
[Asia Economy Reporter Donghoon Jeong] Kolon Group is embarking on building a platform to advance the entire value chain of the hydrogen industry.
On the 6th, at the 'Korea H2 Business Summit 2022 Investor Day' held at Dongdaemun Design Plaza in Dongdaemun-gu, Seoul, Kolon Group announced that it will establish the Kolon H2 platform, covering everything from hydrogen production to transportation, storage, and power generation, based on the advanced technologies possessed by Kolon Industry, Kolon Global, Kolon Glotech, and Kolon Plastics.
Jang Hee-gu, President of Kolon Industry, who spoke at the event, stated, "We will explain the industrial value and significance of the 'Kolon H2 platform' to domestic and international hydrogen industry investors and focus the group's capabilities," adding, "In line with the recent global carbon neutrality trend, we will grow the clean energy business represented by hydrogen into a core business that can create a sustainable future for the group."
Kolon Group plans to expand and reorganize its business areas, which have been centered on hydrogen fuel cells, to establish a platform capable of providing a one-stop service from clean hydrogen production to transportation, storage, and power generation. The hydrogen production sector will be carried out in collaboration with Kolon Global, a leader in the domestic wind power market. Due to the nature of wind power generation, surplus power is generated at night and during idle times, which will be used to produce clean hydrogen through water electrolysis.
They plan to utilize key infrastructure for hydrogen production, including the wind farms in Gyeongju and Taebaek, as well as the currently underway Wando offshore wind farm. Kolon Industry’s moisture control devices and electrolyte membrane technologies (PEM, MEA) are leading in Korea and are ready for commercialization, which is expected to accelerate business development.
At the same time, Kolon Global is also pursuing a blue hydrogen production business based on natural gas. Unlike green hydrogen production, which produces hydrogen by splitting water, the blue hydrogen production plant reforming natural gas may emit some carbon, but it is considered a necessary step toward a clean hydrogen ecosystem, and the business area will be expanded sequentially.
The clean hydrogen produced directly by Kolon will be transported and stored using high-pressure storage tanks for hydrogen storage and hydrogen tank liners, which are internal supports for hydrogen tanks developed by Kolon Glotech and Kolon Plastics. Kolon Glotech possesses essential technologies such as dry winding (large hydrogen tank molding technology) and tow preg (carbon fiber intermediate material used in dry winding) for hydrogen pressure vessels, while Kolon Plastics has technology for developing hydrogen vehicle housing parts and hydrogen pressure vessel materials, thus handling the transportation and storage sectors of hydrogen.
The hydrogen produced by Kolon will also be used as a raw material for power generation. Kolon Industry plans to install hydrogen power generation facilities at its various sites nationwide and produce electricity using hydrogen to operate manufacturing facilities. Once the fuel cell power plants based on PEMFC (polymer electrolyte membrane fuel cells), which apply Kolon Industry’s already commercialized polymer electrolyte membrane (PEM), are established, hydrogen-based power generation will become possible, bringing the group closer to achieving the carbon emission zero goal of 'RE100 (100% renewable energy utilization)' by 2040.
To this end, a system for building close partnerships with technology companies engaged in the hydrogen industry will also be developed. Kolon’s 'Kolon H2 platform' business for hydrogen production, transportation, storage, and power generation is a cooperative system open to anyone. Moreover, it seeks organic cooperation in various fields such as carbon neutrality, fuel cell materials, transportation and storage business, and power generation technology, aiming to grow as a 'total solution provider' in the hydrogen ecosystem through win-win cooperation with partners.
A Kolon Group official said, "Since the early 2000s, Kolon has been steadily preparing by foreseeing the future of Korea’s hydrogen industry and expanding the base of the hydrogen economy through core material development," adding, "To realize the Kolon H2 platform, we will establish ourselves as a key supplier across the hydrogen industry ecosystem through the group’s hydrogen business material technology and cooperation with external partners."
The Korea H2 Business Summit was launched in September last year to accelerate the early spread of the hydrogen economy and strengthen the hydrogen competitiveness of Korean companies.
A total of 17 companies, including Kolon Group, Hyundai Motor Group, SK Group, and POSCO Group, participate. The '2022 Investor Day' is an event attended by executives from 17 domestic member companies such as Hyundai Motor Group and SK Group, as well as overseas energy companies and investment and financial firms, to discuss the current status and vision of Korea’s hydrogen business.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
