Dong-A Hwasung Signs MOU for Collaboration on Water Electrolysis System Development with HydroXpand

Dong-A Hwasung announced on the 17th that it has signed a Memorandum of Understanding (MOU) with HydroExpand to collaborate on the development of an Anion Exchange Membrane Water Electrolysis (AEMWE) system.

Dong-A Hwasung is investing in and conducting research and development in various fields, including the production and utilization of hydrogen, which is a key element of carbon neutrality. HydroExpand recently internalized the synthesis technology for anion exchange materials and completed the development of an anion exchange membrane water electrolysis stack with an efficiency exceeding 80%.

Kim Min-gyu, CEO of HydroExpand, said, “We are pleased to have the opportunity to participate as Dong-A Hwasung fosters hydrogen production and utilization businesses as a future growth engine at the group level. The fusion of the two companies’ technologies is expected to create significant synergy effects.”

Hydrogen has diverse applications including residential and building use, power generation, mobility, refining, steel, and chemical industries. It is expected that about 70% of hydrogen supply will be green hydrogen by 2050. The core equipment for green hydrogen production is the water electrolysis system, among which the anion exchange membrane water electrolysis system is attracting attention as an optimized technology because it can reduce production costs by using low-cost catalysts and offers high efficiency and purity.

Through this agreement, the two companies plan to further strengthen their partnership, sequentially complete preparations for full-scale water electrolysis system manufacturing, and then proceed with product certification, the company explained.

Seong Rak-je, CEO of Dong-A Hwasung, said, “Following the recent Russia-Ukraine crisis, concerns about energy security have increased, and hydrogen is receiving much attention as a fundamental solution, but there are many issues regarding production costs. The two companies will continue close cooperation to secure competitiveness in green hydrogen production costs.”