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Hyundai Glovis inks deal with Air Products on hydrogen supply chain

All News 10:51 October 19, 2021

SEOUL, Oct. 19 (Yonhap) -- Hyundai Glovis Co., a logistics unit of Hyundai Motor Group, said Tuesday it has signed a deal with Air Products on establishing a global hydrogen supply chain.

Under the contract, Hyundai Glovis will cooperate with the world's top hydrogen maker on building up a domestic supply chain for liquid hydrogen and a local blue-green hydrogen supply network.

The two companies will also play ball in such areas as overseas blue-green hydrogen ocean shipping and jointly explore overseas businesses, Hyundai Glovis said.

After an online signing ceremony, Hyundai Glovis CEO Kim Jung-hoon said, "There will be a great synergy with Hyundai Glovis with lots of experience in global gas transportation and Air Products, which has lots of experience in gas manufacturing and sales technology."

Based in the U.S. state of Pennsylvania, Air Products provides overall solutions for the hydrogen business logistic chain from production, liquefaction, storage and transportation to charging-fueling systems and related infrastructure.

Air Products, which has more than 60 years of hydrogen-handling business experience and posted US$8.9 billion in sales in 2020, has participated in more than 250 hydrogen refueling station projects in 20 different countries.

The deal comes as Hyundai Glovis is ramping up efforts to tap into new sustainable business areas in preparation for a future hydrogen-based society.

Early this month, Hyundai Glovis vowed to beef up its eco-friendly business, including hydrogen transportation and electric vehicles (EV) battery recycling, under a new business branded ECOH.

Hyundai Glovis CEO Kim Jung-hoon Kim (L) and Air Products Asia President Wilbur Mok hold a copy of a bilatral memorandum of understanding on the establishment of a global hydrogen supply chain during an online signing ceremony on Oct. 19, 2021, in this photo provided by Hyundai Glovis the same day. (PHOTO NOT FOR SALE) (Yonhap)


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