- Roadmap for new business such as marine transportation of green hydrogen
Hyundai Glovis will launch a new eco-friendly business brand and promote hydrogen and electric vehicle (EV) battery-related businesses in earnest. It is determined to create value in the eco-friendly energy field based on its logistics and distribution capabilities and to establish itself as a comprehensive business operator.
Hyundai Glovis, a global supply chain management (SCM) company, announced on the 4th that it would launch an eco-friendly energy solution brand ‘ECOH’.
ECOH is a compound word of ‘ECO’ meaning environment and ‘HUMAN’ meaning person.
In the hydrogen business, ‘ECOH Logistics’ or ‘ECOH Station’, which adds the meaning of a logistics company, and ‘ECOH Storage’, which combines the meaning of storage in the electric vehicle battery business, are being considered as the brand name.
Hyundai Glovis plans to provide optimal services to establish a value chain encompassing hydrogen production, storage, transportation, and supply.
First, the number of hydrogen delivery centers will be increased to nine by 2030, and hydrogen will be supplied to more than 360 charging stations across the country. In addition, overseas green hydrogen distribution and related infrastructure operation projects such as Oceania and the Middle East, and independent development projects for domestic green hydrogen consumers will be carried out.
Through strategic collaboration with a global ammonia producer, hydrogen will be transported in the form of ammonia through two very large gas carriers (VLGCs) scheduled to be built in 2024. Ammonia is considered as the most efficient hydrogen storage and transport medium. In cooperation with a global hydrogen company, it will also enter the liquid hydrogen production and distribution market by 2024.
In addition, in line with the mandatory hydrogen supply system (HPS), which will be implemented from next year, it is considering entering into the hydrogen fuel cell power plant construction business and the onshore power supply system (AMP) sales business to create an eco-friendly port.
Another axis of the eco-friendly business is the battery, a key component of electric vehicles. Following the current EV battery lease demonstration project, the company plans to establish future strategies based on the demonstration of ‘bidirectional charging technology (V2G) that utilizes idle power by connecting an electric vehicle to the power grid’.
We are also preparing for battery recovery and recycling business. Considering the normal use cycle (7 to 10 years) of EV batteries, it is expected that waste batteries will be poured out in large numbers after 2028. Earlier this year, Hyundai Glovis also developed and obtained a patent for a ‘platform container’ that can transport batteries regardless of shape after using an electric vehicle.
Waste batteries for electric vehicles can be reused for other purposes or the raw materials extracted from them can be recycled. Considering that the storage capacity can be used even if the battery has reached the end of its lifespan, the UBESS project is also being conceived to be recycled as an energy storage system (ESS).
Source: ET News