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HD Hyundai Ushering in the Age of Hydrogen Innovation

2024.10.23

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Since the concept ‘eco-friendliness’ has established as a global trend, it has become an essential task not only for governments but also for companies to secure future energy technologies that can lead to carbon neutrality. This necessity is underscored by the fact that companies around the world are competing in various green technologies such as electric power, ammonia, and more. Among these, hydrogen energy stands out due to its significant advantages: it not only produces no emissions during the production process, but it can also be stored in liquid form for extended periods and makes long-distance transportation feasible. While it is still in its early stages — advancing beyond LNG, ammonia, and methanol — investment in hydrogen energy development is expected to continue because it is being considered as the ultimate solution for achieving carbon neutrality.

Hydrogen, ammonia, and similar energy sources are categorized as clean energy depending on their raw materials and production methods. When these sources are produced using fossil fuels, byproducts such as carbon dioxide are generated during the process. However, if the produced carbon dioxide is captured, utilized, and stored (CCUS), or if the energy sources are generated through renewable energy methods such as wind or solar power along with water electrolysis, they are considered clean energy as they do not emit carbon dioxide.

To rapidly establish a foothold in the hydrogen market, HD Hyundai announced its Hydrogen Dream 2030 Roadmap in 2021. This roadmap outlines the company's vision for its hydrogen business, aiming to build a comprehensive hydrogen value chain that encompasses production, transportation, storage, and application by 2030.

At CES 2024 held earlier this year, HD Hyundai Vice Chairman Chung Kisun emphasized that HD Hyundai “will build up an entire hydrogen energy ecosystem across the whole of the Earth from ocean to land,” and that HD Hyundai “will establish a global energy value chain to decarbonize the future.”

 
■ Energy: Preparing for the Future with a Clean Hydrogen Value Chain
HD Hyundai is actively working to overcome the limitations of its oil-dependent refining business by building a clean hydrogen value chain and preparing for eco-friendly future energy ventures.

HD Hyundai Oilbank, the intermediate holding company of HD Hyundai's energy sector, is currently exploring projects to import clean ammonia from overseas, supplying it as a zero-carbon fuel to nearby power plants or converting it into hydrogen for fuel use. The zero-carbon fuel produced is anticipated to be usable for vehicles and industrial applications. Additionally, the company is examining a project to capture and store carbon dioxide generated at existing hydrogen plants to provide clean hydrogen. In particular, there are plans to construct the Clean Combined Energy Cluster at the Daesan Port reclamation site in Seosan, Chungnam, which will include ammonia storage facilities and hydrogen production facilities utilizing ammonia.

Meanwhile, the HD Hyundai Oilbank Central Technology Institute is developing the polymer electrolyte membrane necessary for producing clean hydrogen through water electrolysis. Following this, the institute is preparing for product commercialization, including customer evaluations and certification processes. Additionally, it is working on catalytic decomposition technology to convert clean ammonia into clean hydrogen.

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Image: Overview of HD Hyundai Oilbank's Daesan Factory 


  • ■ Shipbuilding and Offshore: Building a Hydrogen Economy with Hydrogen Transportation
When hydrogen is liquefied, its volume decreases to one-eight hundredth of its gaseous state, leading to over ten times greater transportation efficiency. For this reason, the transportation of liquefied hydrogen is regarded as a key element in the realization of a future hydrogen economy. The shipbuilding industry is also in fierce competition to develop liquefied hydrogen carriers that will determine the future of hydrogen transportation. That is why global companies are showing strong interest in HD Hyundai, having advanced technologies and extensive shipbuilding expertise.

HD Hyundai plans to develop liquefied hydrogen carriers by 2030 to transport hydrogen safely and efficiently worldwide. In February of this year, HD Korea Shipbuilding & Offshore Engineering, the intermediate holding company of the shipbuilding and offshore sector, signed a memorandum of understanding on the development of a marine transportation system for liquid hydrogen (LH2) with Australia’s largest energy company, Woodside Energy, Hyundai Glovis, and Japan’s global shipping company, MOL (Mitsui O.S.K. Lines). In May, HD Hyundai further expanded on the development of liquefied hydrogen carriers by entering into a joint development agreement with the global energy company Shell. Previously, in September 2023, HD Korea Shipbuilding & Offshore Engineering had received Basic Approval (AiP) from DNV, the Norwegian classification society, for its private-label large hydrogen carrier's hydrogen cargo operating system.

Alongside this, the development of hydrogen-powered ships is also being accelerated. Hydrogen-powered ships are eco-friendly ships that use hydrogen as fuel instead of conventional fossil fuels, significantly reducing emissions of harmful exhaust emissions such as sulfur oxides, nitrogen oxides, and carbon dioxide. They are expected to be a key solution for achieving carbon neutrality.

To enable the development of hydrogen-powered ships, HD Korea Shipbuilding & Offshore Engineering developed the country's first 1.5MW class LNG-Hydrogen HiMSEN engine in 2022 using its own technology. This hybrid engine can selectively use diesel fuel and a mixture of LNG and hydrogen, making it an environmentally friendly option. It significantly reduces harmful exhaust emissions, including carbon dioxide, and meets the highest Tier 3 standards set by the International Maritime Organization (IMO) for nitrogen oxide regulations.

The use of Boil off gas (BOG) generated during the transport process as fuel can significantly minimize the amount of hydrogen lost, making it highly effective when applied to liquefied hydrogen carriers. HD Hyundai also recently received an Approval in Principle (AiP) from DNV for an 80,000 m³ electric-driven liquefied hydrogen carrier at the Gastech 2024. This liquefied hydrogen carrier is equipped with HD Hyundai's latest large liquefied hydrogen tanks and an electric propulsion system featuring the hydrogen dual-fuel HiMSEN Engine.

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Image: Aerial view of HD Hyundai's liquefied hydrogen carrier


  • ■ Construction Equipment: Overcoming Environmental Regulations with Hydrogen Fuel
Just as automobiles adhere to exhaust emission regulations that limit emissions per distance traveled, construction equipment is also subject to reduction regulations aimed at decreasing greenhouse gas emissions. The EU Stage V emission regulations, introduced in 2019, represent the most stringent environmental standards currently in place. South Korea adopted the same criteria at the end of 2020, meaning that all newly registered equipment in the country must comply with these standards. With the global movement toward carbon neutrality gaining momentum, environmental regulations worldwide are continually being strengthened. In response, HD Hyundai's three construction equipment companies (HD Hyundai XiteSolution, HD Hyundai Construction Equipment, and HD Hyundai Infracore) are actively utilizing and integrating various hydrogen technologies into their products.

HD Hyundai XiteSolution, the intermediate holding company of HD Hyundai Construction Equipment sector, has completed the development of a 5-ton-class medium-sized hydrogen forklift and is conducting a demonstration project at logistics sites. In 2021, HD Hyundai Construction Equipment produced the prototype of the nation’s first 14-ton-class wheel-type hydrogen fuel cell excavator and showcased it at major global construction equipment exhibitions such as Germany’s Bauma and the US’s CONEXPO. The company is aiming for commercialization by 2026. This model can operate continuously for up to 8 hours with a single 20 minute short charge. Additionally, HD Hyundai Infracore unveiled the world’s first medium-sized hydrogen fuel cell wheel loader, the DL 250 FCEV (Fuel Cell Electric Vehicle), at Intermat, a construction equipment exhibition held in France earlier this year. This model features the ability to use both a hydrogen fuel cell and an electric battery pack as power sources, resulting in zero carbon emissions while maintaining high work efficiency.

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Image: Image of HD Hyundai XiteSolution's Hydrogen Forklift

 
  • ■ HD Hyundai's Strong Commitment to Hydrogen: Official Entry into the Hydrogen Fuel Cell Market
Hydrogen fuel cells are considered a key technology in establishing the hydrogen value chain, as they are utilized as an eco-friendly power source across various sectors, including shipping, energy, and construction equipment. The global hydrogen fuel cell market is projected to grow from $2.485 billion in 2020 to $12.577 billion by 2027.

In line with this trend, HD Hyundai recently established a dedicated hydrogen fuel cell subsidiary, HD Hydrogen, showcasing its commitment to hydrogen fuel cell technology. Last month, HD Hydrogen announced its plan to enter the hydrogen fuel cell market by acquiring Convion, a global leader in fuel cell systems. Convion, specializing in solid oxide fuel cell (SOFC) and solid oxide electrolysis cell (SOEC), is one of the few companies in the world that have developed technologies for a commercial SOFC generation system and have actually supplied technologies to the market. While HD Hydrogen will be overseeing the overall management of HD Hydrogen, Convion will be responsible for developing core technologies related to hydrogen fuel cells.

Previously, HD Hyundai invested in Elcogen AS, a leading fuel cell company in Europe. With a total investment of €45 million, the plan is to enhance large-scale solid oxide fuel cell (SOFC) systems and venture into clean hydrogen production.
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Image: HD Hydgrogen CI, Convion CI


Through these efforts, HD Hyundai is continuously advancing its research and development in hydrogen across all its business sectors, making steady progress toward carbon reduction. HD Hyundai will continue to consolidate its technologies and resources to lead the future eco-friendly market.
 
#HD Hyundai # Hydrogen

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