Securing the Entire Order for Phase 2 of the National Project Bid
Verifying Reliability and Analyzing Economic Feasibility Through Demonstration
HD Hyundai Site Solutions announced on the 17th that it has secured an order for 22 units of 3.5-ton hydrogen fuel cell forklifts from the Korea Construction Equipment Research Institute. The entire order quantity was secured solely by the company. The total order amount is estimated to be approximately 4.5 billion KRW.
The ordered products will be deployed in the second phase of the national project titled "Reliability Verification Based on Demonstration for Commercialization of Hydrogen Forklifts," conducted at the Korea Zinc Onsan Smelter. The project period is until March next year, aiming to verify the reliability, economic feasibility, and safety of the forklifts to establish a foundation for commercialization.
3.5t-class hydrogen forklift ordered by HD Hyundai Site Solutions. Photo by HD Hyundai Site Solutions
Hydrogen forklifts do not emit carbon dioxide during operation, making them a key eco-friendly mobility solution for the future. According to the company, switching to hydrogen forklifts is expected to reduce carbon dioxide emissions by an average of 1.8 tons per day and about 645 tons annually for 22 units. This is equivalent to planting approximately 95,000 pine trees.
Hydrogen forklifts have already been commercialized in the United States and China. Systems and infrastructure for this are also being rapidly established. California, USA, is policy-wise encouraging the adoption of eco-friendly forklifts (electric and hydrogen).
According to the market research firm Global Growth Research, the global hydrogen forklift market is expected to grow at an average annual rate of 31.4%, from 683.6 million USD (approximately 975.8 billion KRW) last year to 7.43957 billion USD by 2032.
Heo Gwanghee, Head of Industrial Vehicles Division at HD Hyundai Site Solutions, said, "This order is the result of recognition of our hydrogen forklift’s technological capability and stability," adding, "Following the demonstration project, we will secure additional sales channels and lead the transition to hydrogen mobility in domestic industrial sites."
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