Linde has hustled the world with the announcement of setting up the world’s largest infrastructure facility in Ulsan, South Korea. The company will be partnering with Hyosung Corporation, South Korea’s renowned industrial conglomerate, to develop and operate a mega Hydrogen facility of 30 metric tonnes per day (MTPD).
The new production unit will be based on Linde’s own proprietary liquefaction technology which is presently the world’s highly used technology for commercial production of Hydrogen. With a massive production capacity, the facility based in Ulsan, South Korea is expected to produce enough Hydrogen fuel to operate nearly 100000 cars and limit up to 130000 tons of tailpipe carbon dioxide emissions every year. The first phase of the facility is likely to come onstream by 2023.
Pricing overview: https://www.chemanalyst.com/Pricing/Pricingoverview
Under the joint venture, Linde is aiming to sell and distribute the product to the vast transportation market in South Korea. To bring it into action, the two companies will together develop, own, and function a broad nationwide network of Hydrogen refueling stations. This large-scale Hydrogen network is perceived to viably assist in taking ahead the country’s progressive target of zero carbon emissions by 2050.
Supporting the venture, Chairman of Hyosung Group revealed that the joint venture with Linde is a foundation step of South Korea’s vision of establishing a national Hydrogen economy and will considerably serve in advancing the Liquid Hydrogen value chain in South Korea. The personnel even stated that they are extremely inclined towards the project and are looking forward towards working with Linde to fuel the vision of a hydrogen energy transition.
As per ChemAnalyst, “Since various Asian governments have placed an ambitious target of transitioning to a ‘Hydrogen Fuel Economy’, the sustained and reliable availability of the product will serve as a cornerstone for achieving these set targets.”
ChemAnalyst is a research-based management and consulting organization which is involved in providing market research and advisory solutions to its clients, worldwide. The company provides comprehensive research strategies, innovative solutions and professional market intelligence services across different categories including petrochemicals, feedstock, polymer & resin, specialty chemicals and bulk chemicals.
With the vision of delivering quality market research and consulting services in hard-to-reach markets, ChemAnalyst helps its clients identify new market opportunities, provides innovative ways to capture the market and explore areas of growth. The market research reports provided by our analysts not only includes data and information but also highlight insights in a more usable and interactive format for our clients. Our research reports include information collected through exhaustive primary and secondary research approaches with various stakeholders including industry experts, channel partners, government representatives, among others. Additionally, our research reports are prepared using forecasting techniques such as regression analysis, time series analysis, econometric & judgmental analysis, among others to calculate and find the final market size.
We at ChemAnalyst are committed to assist customers worldwide with their market research needs using our comprehensive qualitative and quantitative methodologies. Our management team comprises of industry’s best-trained industry analyst and consultant with offices across North America and Asia Pacific who are always ready to serve our clients worldwide.
For more information, please visit us at https://www.chemanalyst.com
B-44 Sector-57 Noida,
National Capital Region