POHANG, Nov. 26 (Korea Bizwire) — POSCO unveiled a plan to set up infrastructure for the supply of hydrogen in Pohang, North Gyeongsang Province where its steel mill is located, as well as to shift the transport of steel products from diesel trucks to hydrogen vehicles.
The South Korean steel giant on Wednesday signed a business agreement with its affiliate POSCO C&C and special purpose company Korea Hydrogen Energy Network (Kohygen) to promote cooperation in this regard.
Under terms of the agreement, POSCO group will establish a large diameter piping system to enable massive supply of hydrogen, while striving to produce and supply hydrogen at a competitive price.
Kohygen will be responsible for setting up hydrogen charging stations.
POSCO expects the project to help bring about a hydrogen-centered change in the logistics industry since it can contribute to lowering the hydrogen supply price, while expanding the supply capacity compared to the existing method of transport in high pressure hydrogen trailers.
At present, POSCO is leveraging hydrogen in the steel production process of its steel mill. It intends to expand its hydrogen production output and supply it to neighboring end-user companies for use in hydrogen mobility and fuel cell power generation.
To this end, the company recently joined hands with the Hyundai Motor Group to introduce 1,500 hydrogen trucks on a gradual basis, and formed a business tie-up with the Korea Hydro & Nuclear Power Co. for fuel cell power generation.
J. S. Shin (firstname.lastname@example.org)