Hyundai Glovis plans hydrogen supply chain with U.S. firm

Hyundai Glovis CEO Kim Jung-Hoon, left, and Air Products & Chemicals Asia President Wilbur W. Mok hold a virtual signing ceremony. [HYUNDAI GLOVIS]

Hyundai Glovis is teaming up with Air Products & Chemicals, an industrial gas manufacturing company, to develop a hydrogen supply chain.

Hyundai Glovis, the logistics unit of Hyundai Motor, announced that it signed a memorandum of understanding with Air Products & Chemicals on Tuesday to establish a liquefaction and clean hydrogen supply chain.

Air Products & Chemicals is an industrial gas company headquartered in Allentown, Pennsylvania. Its sales in fiscal 2020 were $8.9 billion.

A virtual signing ceremony was attended by Hyundai Glovis CEO Kim Jung-hoon, Air Products & Chemicals Asia President Wilbur Mok, and Air Products & Chemicals Korea CEO Kim Kyo-young.

Air Products & Chemicals will supply liquefied hydrogen and Hyundai Glovis will transport it to Korea.

The two companies plan to cooperate on building a "green" ammonia-based hydrogen supply chain.

Green ammonia refers to ammonia made in a production process that is 100 percent renewable and carbon-free.

“There will be great synergy with Glovis, which has lots of experience in global gas transportation, and Air Products, which has lots of experience in gas manufacturing and sales technology,” said Kim Jung-Hoon. “We expect to discuss deeply the development of a liquefied and clean hydrogen supply chain”

BY JIN MIN-JI [jin.minji@joongang.co.kr]