On Tuesday, South Korea’s Lotte Chemical Corp. announced its plan to expand its hydrogen production and become a key supplier.
The company will invest KRW4.4 trillion (USD3.8 billion) until 2030 to raise hydrogen output, meeting 30% of the country’s demand by expanding capacity to 600,000 tpa. It elaborated that it will produce 160,000 tonnes of blue hydrogen by 2025 and 440,000 tonnes of green hydrogen by 2030.
The company targets that by the end of the decade, its annual sales from hydrogen could hit KRW3 trillion.
Other than that, Lotte Chemical also plans to build 50 fuel cell charging stations and 100,000 high-pressure hydrogen storage tanks by 2025.
