SK teams up with Malaysian firm for cooperation in hydrogen, renewablesKorean energy-to-telecom conglomerate SK Group said Monday it is partnering with a Malaysian clean energy company to explore collaboration in hydrogen, renewable energy and green mobility, as part of efforts to bolster its green energy transition.
Its three affiliates — SK Materials, SK Ecoplant and SK Signet — recently signed a memorandum of understanding with Gentari Sdn. Bhd., a subsidiary of Malaysia's state-run oil company Petroliam Nasional Berhad (Petronas), for comprehensive cooperation in the clean energy sector, SK said in a release.
The three engage in advanced materials production, construction and recycling, and electric vehicle charging, respectively.
SK and Gentari will work together to identify joint project opportunities in the areas of hydrogen, fuel cells, and EV charging, and explore other ways to expand cooperation, according to SK.
Gentari provides clean energy solutions with a focus on lower carbon solutions through renewables and hydrogen, which SK hopes will create synergy by leveraging its technologies and capabilities in hydrogen and EV charging systems.
Gentari will also be able to utilize the existing infrastructure of Petronas for new business models in the production and distribution of hydrogen, and others related to EV charging in Malaysia, SK said.
The latest partnership came after SK and Petronas said in April they would work together to explore new opportunities in carbon capture and storage business.
SK Group has actively engaged in green energy transition, including sustainable energy, bio and others. SK Group Chairman Chey Tae-won has pledged to run the energy-to-telecom conglomerate to reduce 200 million tons of carbon emissions, equivalent to 1 percent of the global carbon emissions reduction target set by the International Energy Agency, by 2030.