By 2030, Hyundai Heavy Industries Group plans to develop a hydrogen value chain and turn itself into a shipbuilding, marine, and energy business that will lead the future eco-friendly industry.
On the 25th, the Hyundai Heavy Industries Group conducted an online company briefing to announce the ‘Hydrogen Dream 2030 Roadmap.’ Based on the group’s infrastructure and technical competitiveness, the key aim is to create a hydrogen value chain from production to transportation, storage, and utilisation of hydrogen on land and offshore by 2030.
Hyundai Heavy Industries Group proposes a hydrogen value chain with five stages: offshore power generation, hydrogen production infrastructure, marine transportation, storage, and consumption. To begin with, Korea Shipbuilding & Marine Engineering, a holding company in the centre of the group shipbuilding, is a major player in the most critical manufacturing, supply, and transportation networks.
Hyundai Heavy Industries Group’s midship holding firm, Korea Shipbuilding & Marine Engineering, will play a key role in hydrogen transportation, development, and supply. Centered on the world’s best shipbuilding and offshore plans, Korea Offshore & Shipbuilding is encouraging the construction of offshore plants and the development of green hydrogen using water electrolysis technology.
It intends to develop a hydrogen production infrastructure with Hyundai Oilbank as part of this process. The green hydrogen plant company is managed by Korea Offshore & Shipbuilding, and Hyundai Oilbank is in charge of the’Blue Hydrogen (Hydrogen with Reduced Greenhouse Gas Emissions)’ project. Hyundai Oilbank signed a Memorandum of Understanding (MOU) with Saudi Aramco, the world’s largest oil company, earlier this month for the manufacture of lubricants.
Hyundai Oilbank has begun to manufacture blue hydrogen as well. The blue hydrogen provided by Hyundai Oilbank will be used in desulfurization facilities or sold as a fuel for automobiles and power generation. By 2030, it is planned to have installed 180 hydrogen charging stations across the country.
“We will accelerate the group’s new growth businesses focused on eco-friendly ships and renewable energy,” a Hyundai Heavy Industries Group official said.