LowCarbon, Space Florida sign agreement to build hydrogen hub

LowCarbon, South Korea's climate tech company, has signed an agreement on Thursday with Space Florida and Ocean Green Hydrogen, a Tampa-based climate tech firm to build a clean hydrogen hub in Florida State. 

The agreement aims to develop and cooperate on Florida's clean hydrogen hub, including the Kennedy Space Center, and to install carbon capture utilization storage(CCUS) and direct air capture (DAC) facilities within the aerospace industry complex.

Additionally, the agreement covers clean hydrogen supply and distribution, joint planning and implementation of related projects, business development and financial cooperation for mutual benefits and expansion of opportunities.

LowCarbon and Space Florida have set the expiration date of the business agreement on Sep. 30 to expedite the contractual obligations as soon as possible. As part of concluding the main contract, LowCarbon has signed an engineering, procurement and construction (EPC) service contract for clean hydrogen production with Korea Gas Technology Corporation and completed tasks for design and estimation with CCC Group, an EPC specialist in the United States.

"I realized that the door is wide open to innovative technologies in the United States, unlike in Korea. Knowing that, I have been preparing for this opportunity for one year," said Lee Cheol, CEO of LowCarbon.

Write to Dong-Yull Rhim at exian@hankyung.com