MOU for Cooperation in Green Hydrogen Business between Techcross and Hyundai Engineering
The comprehensive environmental company Techcross and Hyundai
Engineering signed an MOU for cooperation in the green hydrogen business based
on alkaline water electrolysis on October 30.
The signing ceremony took place at Hyundai Engineering’s head office
building in Gyedong, Seoul, and was attended by approximately 10 people,
including Seogwon Park (President of Techcross) and Gwanseop Lim (Chief of Plant Business at Hyundai
Engineering). Through this agreement, the two companies have agreed to maintain
a close cooperative relationship, sharing their business direction and alkaline
water electrolysis technology.
Alkaline water electrolysis technology has achieved the highest
level of technological maturity among all water electrolysis method. Its safety
features make it suitable for mass production, and it is estimated that 70% of the
hydrogen currently produced in the overseas countries where commercialized
hydrogen production is well-established, relies on this technology.
Techcross has been activity engaged in R&D activities, collaborating with major institutions and organizations, including KRICT (Korea Research Institute of Chemical Technology) and KENTECH (Korea Institute of Energy Technology), to exchange knowledge and promote cooperation in water electrolysis technology for green hydrogen production. In addition to these collaborations, Techcross possesses core water electrolysis technology. Techcross Water & Energy and Techcross Environmental Services are also actively expanding their future green energy business by conducting a demonstration project for a 2.5MW hydrogen production facility in Boryong in Chungchongnam-do, Buan in Jeollabuk-do.
Techcross expects to generate synergy by combining water
electrolysis stack and system technology from Techcross with plant expertise
from Hyundai Engineering. This collaboration aims to accelerate the growth of
the domestic hydrogen economy and contribute to the transition towards a net-zero