InscoBi is showing strong performance following news that Korea and Saudi Arabia will expand mutual investments related to the hydrogen economy. An affiliate of InscoBi has produced green hydrogen with world-class performance.
As of 9:51 AM on the 25th, InscoBi was trading at 1,256 KRW, up 64 KRW (5.37%) compared to the previous trading day.
On the 24th (local time), President Yoon Seok-yeol and Crown Prince and Prime Minister Mohammed bin Salman of Saudi Arabia reportedly adopted 44 joint statements to expand bilateral cooperation in areas such as decarbonization, eco-friendliness, and renewable energy.
In the joint statement, the two sides mentioned the hydrogen economy first and agreed to actively seek to expand mutual investments focusing on common interest areas such as the hydrogen economy and smart cities. Saudi Arabia’s NEOM City is being developed as a carbon-neutral future city, with a policy to supply energy 100% from renewable sources.
Earlier, the Korean government announced plans to distribute 30,000 hydrogen buses and trucks by 2030, establish 70 liquefied hydrogen charging stations, and foster 600 hydrogen-specialized companies. The government expects an economic ripple effect exceeding 47 trillion KRW by 2030 through the expansion of the hydrogen economy.
Meanwhile, InscoBi participated in an industry-academia-research consortium led by BioX to carry out an eco-friendly green hydrogen project. The two companies signed a commercialization business agreement. Green hydrogen refers to eco-friendly hydrogen produced by electrolyzing water using electricity generated from renewable energy sources such as solar and wind power.
The green hydrogen produced by BioX using food waste water as raw material was verified by the Korea Testing Laboratory (KTL) for hydrogen concentration and production speed. Before refinement, the green hydrogen purity was 91%, confirming the world’s highest level of biohydrogen purity, and the production yield was 15L/L-Day, verifying the highest domestic biohydrogen production speed.
Additionally, BioX is reported to have succeeded in producing 99% pure green hydrogen on a laboratory scale using discarded waste liquor and distillery wastewater in collaboration with Ulsan National Institute of Science and Technology.
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