Changwon Signs 29.7b Investment Agreement with 4 Hydrogen Companies

By January 30, 2019 2   min read  (339 words)

January 30, 2019 |

Changwon Signs 29.7b Investment Agreement with 4 Hydrogen Companies

Changwon City (Mayor Sung-moo Huh) held the “Changwon City Hydrogen Energy Circulation System Demonstration Project Joint Operation” agreement ceremony at the Changwon Convention Center in the presence of CEOs of four companies specializing in hydrogen energy and Changwon City Mayor Sung-moo Huh and announced the City’s determination to become the hub of the global hydrogen energy industry.

Through the agreement, the City will start working on the “Hydrogen Energy Circulation System Demonstration Complex Construction Project,” which was announced last September, in earnest with the participating companies. A total of four companies, namely EMK, Doosan Mobility Innovation, JNK Heaters, and ReCarbon Korea, will be participating in this project. The City plans to build a full-cycle circulation system that includes hydrogen energy production facilities, environmentally-friendly reprocessing facilities, hydrogen charging systems, and hydrogen energy utilization.

The participating companies will invest a total of 29.7 billion won by 2020 and carry out the hydrogen station construction business and the hydrogen energy-based hydrogen cell fuel drone business (phase 1), the CNG-based hydrogen production facility construction business (phase 2), and the CO2 reprocessing equipment construction business (phase 3), in the order mentioned.

The establishment of a hydrogen energy-related full-cycle circulation system is an unprecedented project not only in Korea but also around the world. The project will create the foundation for Changwon City to become a hydrogen industry leader by demonstrating its full-cycle industrial technology related to hydrogen production, distribution, and sale and by enabling the city to develop a business model. The project is expected expand the hydrogen industry, creating 258 jobs as a result.

“So far, Changwon City has paved the way for Korea’s hydrogen industry development. From now on, I will do my best to allow Changwon City to become a leader in the hydrogen industry not only domestically but also globally,” said Changwon City Mayor Huh. He added, “the industry, the academia, researchers, and the public and private sectors will work together to attract government projects related to the hydrogen industry.”.


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