SK E&S, Plug Power to strengthen hydrogen partnership

South Korea's SK E&S Co. and Plug Power, a global hydrogen solutions provider, have reinforced their commitment to accelerating the development of a domestic hydrogen ecosystem.

The respective CEOs of SK E&S and Plug Power, Choo Hyung-Wook and Andy Marsh, convened on July 19 to discuss ongoing collaborations in their hydrogen businesses.

During his visit to South Korea from July 17 to 19, Marsh assessed the progress of the joint venture SK Plug Hyverse, which the two companies inaugurated the previous year.

Earlier in May, the partners declared plans to inject 1 trillion won ($786 million) into the South Korean hydrogen industry through their shared enterprise, SK Plug Hyverse.

The company intends to commence operations of liquefied hydrogen charging stations by the year's end, aligning with the commercial launch of SK E&S's liquefied hydrogen facility in Incheon.

Marsh utilized his visit to inspect the construction of the Incheon liquefied hydrogen plant, enabling him to evaluate firsthand SK E&S's advancements in preparing for liquefied hydrogen operations.

The Incheon facility, poised to be the world's largest of its kind with an annual capacity of 30,000 tons, is nearing completion and is slated to become fully operational within the year.

The two CEOs reaffirmed their dedication to the progression of the joint venture's hydrogen technology R&D center and Gigafactory. The Gigafactory is set to mass-produce hydrogen fuel cells for vehicles and power generation, alongside electrolysis equipment, aiming to cater to various domestic and Asian markets.

Write to Mi-Sun Kang at misunny@hankyung.com