ENOGIA Announces Signing of Major Contract in South Korea to Equip Fuel Cell Park Located on LOTTE Fine Chemical’s Taewha Site
ENOGIA announced the signing of a major contract in South Korea, worth several million euros, to equip the fuel cell park located on LOTTE Fine Chemical’s Taewha site (Ulsan). This project marks a historic first: it is the first waste-heat recovery project on a fuel cell installation in South Korea to be entirely financed and developed with private capital, without any public subsidies. Led by SK Telecom, a South Korean conglomerate in telecommunications, energy, media and AI, as project owner and lead coordinator, the initiative brings together leading Korean industrial players – SK Telecom, LOTTE Fine Chemical and Lotte SK Eneroot – alongside ENOGIA and its local partner Lo-C Energy.
The system designed by ENOGIA will recover the waste heat produced by the fuel cells and convert it into low-carbon electricity using 6 compact ORC (Organic Rankine Cycle) modules. This additional green electricity will be directly used by LOTTE Fine Chemical’s industrial facilities, significantly improving the site’s overall energy efficiency and environmental performance. By valorising heat that would otherwise be lost, the project substantially increases the global efficiency of the fuel cell park and generates renewable electricity with no additional primary energy consumption – a particularly powerful lever in the current Korean hydrogen and industrial decarbonisation context.
A contract backed by a 20-year long term service agreement (LTSA) In addition, ENOGIA and LOTTE Fine Chemical have signed a long-term full-service agreement covering the maintenance and operational optimisation of the plant for the next 20 years. This contract secures the long-term performance of the installation and anchors ENOGIA as a key technical partner over the full lifecycle of the project. Enhanced momentum and visibility for ENOGIA The installation will be commissioned between 2026 and 2027, in line with the industrial schedule of the Taewha hydrogen fuel cell powerplant.
This project reinforces ENOGIA’s growth strategy in Asia, built on strong local partnerships capable of scaling the model to other fuel cell parks and industrial facilities. This new success comes in the context of a very strong year commercially for ENOGIA, with a robust order book and an order intake already exceeding last year’s level – which was itself a major milestone for the company.
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ENOGIA Announces Signing of Major Contract in South Korea to Equip Fuel Cell Park Located on LOTTE Fine Chemical’s Taewha Site, source
