SK Ecoplant changes North American corporation name

SK Ecoplant Co., a construction company of S.Korea's SK Group, said on Monday that it would change the name of its North American corporation BETEK, to SK Ecoplant Americas, and begin to target the North American environment and energy market in earnest.

SK Ecoplant Americas plans to take the lead in expanding business in the environment and energy fields as well as the existing fuel cell business.

SK Ecoplant explained that the latest name change also implies the company's intention to strengthen its position in North America to become an advance guard in targeting North America.

To that end, it plans to actively promote a project to build fuel cell supply systems by securing cost advantage based on relatively high electricity rates and low fuel costs in the United States.

In addition, based on the hydrogen economy support policy as part of the US Inflation Reduction Act, it is preparing to build a solution that converts hydrogen produced in North America into ammonia.

SK Ecoplant also plans to expand its role in the North American battery market by building a waste battery recycling plant in Kentucky through Ascend Elements, a US waste battery recycling firm, of which SK Ecoplant is the largest shareholder.

"North America is a strategically important market for us to become a major environmental and energy company. We will strengthen our role as a leading company in future energy, including green hydrogen business through water electrolysis, hydrogen transportation and distribution through green ammonia, and recycling of waste batteries," said Park Kyung-il, CEO of SK Ecoplant.

Write to Ik-Hwan Kim at lovepen@hankyung.com