SK E&S and Plug Power have launched a hydrogen business cooperation, building off an earlier joint venture the companies formed in January 2022 to explore hydrogen business opportunities in Asia.
SK E&S will launch commercial operations on a liquefied hydrogen plant in Incheon, South Korea, with an initial capacity of 30,000 tons, according to FuelCellsWorks. The companies’ joint venture, Hibus, will supply the liquid hydrogen produced by SK E&S through liquid hydrogen filling stations that will be built in strategic locations. In addition, the Incheon “Giga-factory” project, a hydrogen production base for core hydrogen facilities, will proceed according to schedule.
In early 2021, SK E&S, along with SK Holdings invested 1.8 trillion won into Plug Power, making it the largest shareholder in the company.