FCI, Fuel Cell Innovation, seeks hydrogen industry springboard with new hydrogen fuel cell factory in Pohang.
Korean energy solution provider Fuel Cell Innovation is banking on its new hydrogen fuel cell plant in Pohang, North Gyeongsang Province, to give it a fresh momentum.
The company plans to invest a total of 150 billion won ($115 million) by 2027 to produce hydrogen fuel cell components in an automated plant at Pohang’s Blue Valley National Industrial Complex.
The company renewed its commitment to cooperating with the city of Pohang at the Pohang International Hydrogen Fuel Cell Forum held on Dec. 7.
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FCI CEO Lee Tae-won and Pohang Mayor Lee Kang-deok met on Nov. 30 to launch the construction of a “gigafactory.” The new FCI plant will produce 1 gigawatt’s worth of fuel cells per year. The factory is also expected to create 1,500 jobs in the city.
With its focus on environmentally friendly solutions, the company has been expanding its business portfolio here and abroad.
The energy company is currently operating clean energy solutions using its water electrolysis technology and high temperature fuel cells, including solid oxide fuel cells and molten carbonate fuel cells.
In July, the firm signed a business agreement with Korean refinery S-Oil to co-develop ecofriendly hydrogen, fuel cells, and renewable energy. The contract outlines detailed plans to develop an ammonia decomposition facility for hydrogen production, technology to create solid oxide fuel cells from liquefied natural gas, liquefied petroleum gas, ammonia and hydrogen, and a project to acquire carbon capture and recycling technologies.
Earlier this month, FCI inaugurated a facility in Daejeon that can produce an annual 3 megawatts’ worth of 1.5 kilowatt solid oxide fuel cells, which can be used to power buildings and houses.
The company has also received production approval from the state-owned Korea Gas Safety Corp. in October to manufacture commercial hydrogen products. It is also planning on launching 45-kilowatt solid oxide fuel cells early next year to be used in midsized and large buildings, the company added.
Looking ahead, FCI said it was developing high capacity fuel cells to be used in ships by 2024. The project started in 2020 as a joint initiative with the Korea Evaluation Institute of Industrial Technology and other partner firms. Key system trials with shipbuilding companies were completed in October, according to FCI.
The energy company is also researching fuel cells based on captured CO2, others based on ammonia, and green hydrogen products.
FCI was created as a joint venture between South Korea and Saudi Arabia four years ago. It was launched in 2018 as a consortium between multiple firms from both countries, including S-Oil, Samsung, Saudi Aramco, and Taqnia Energy, to supply products to Korea and the Middle East.
The company has been expanding its global business portfolio based on its partnership with companies from the Middle Eastern country.
FCI said it has been working with Saudi Arabian partner Taqnia Energy to supply fuel cell products to the country’s electric, telecommunications and military facilities, while working to develop products that befit the country’s climate and regulations.
The company also plans to launch its Saudi headquarters in the country’s capital, Riyadh, in 2023, and build a green hydrogen production plant in the Arabian country, it added.
FCI hopes the recent visit to Korea by Mohammed bin Salman, the Saudi Arabian crown prince and prime minister, will act as a catalyst to bolster bilateral cooperation in the area of clean energy, the company said. The visit will greatly expand horizons for future business operations, it added.
Meanwhile, the energy firm was recognized by the Korea Intellectual Property Office for its contribution to the development of Korea’s hydrogen industry, and for its support in creating intellectual property, at a conference held in Ulsan on Nov. 30.
FCI seeks hydrogen industry springboard with new hydrogen fuel cell factory in Pohang, December 19, 2022
