[Machinery News] Lotte Chemical and Bumhan Industry signed a ‘business agreement to establish a carbon-neutral and eco-friendly business partnership’ at the headquarters of Bumhan Industry in Changwon, Gyeongnam on the 27th (Mon). The signing ceremony was attended by Lotte Chemical ESG Management Headquarters Manager Kim Yeon-seop and Bumhan Industry CEO Jeong Young-sik.
With this agreement, the two companies plan to build a carbon-neutral and eco-friendly business partnership by effectively utilizing each company’s know-how and infrastructure to expand the hydrogen value chain and contribute to revitalizing the hydrogen economy.
According to this agreement, Lotte Chemical and Bumhan Industry plan to cooperate in various fields such as ▲hydrogen fuel cell power generation business ▲hydrogen fuel cell related business ▲examination of additional business using each company’s infrastructure through joint development and investment in eco-friendly technologies.
“I am very pleased with this business agreement between Lotte Chemical and Bumhan Industry to expand Korea’s hydrogen business infrastructure,” said Kim Yeon-seop, managing director of Lotte Chemical’s ESG management division. It is expected to contribute to economic revitalization.
“This agreement is the starting point of cooperation between the two companies, and the eco-friendly hydrogen industry of both companies will take a big leap forward through the implementation of the agreement”, said Young-sik Jung, CEO of Bumhan Industry.
Meanwhile, in July of this year, Lotte Chemical announced an eco-friendly hydrogen growth roadmap, ‘Every Step for H2’, with the goal of supplying 30% of domestic hydrogen demand along with achieving carbon-neutral growth by 2030. In addition, in preparation for the full-fledged expansion of the domestic hydrogen car market, a pilot facility for mass production of hydrogen tanks is scheduled to be completed in the first half of 2022.
Machine News, Machine Industry News Channel.