SK Innovation E&S and DEOKYANG ENERGEN CORPORATION to Expand Combined Gaseous- and Liquid-Hydrogen Refueling Infrastructure

[Financial News] SK Innovation E&S is joining forces with DEOKYANG ENERGEN CORPORATION, a company specializing in the production and supply of industrial hydrogen, to expand hydrogen-refueling infrastructure.
SK Innovation E&S announced on the 2nd that it had signed a memorandum of understanding (MOU) with DEOKYANG ENERGEN CORPORATION at SK Green Campus in Jongno-gu, Seoul, to cooperate on gaseous-hydrogen supply and hydrogen-refueling-station projects.
SK Innovation E&S, which has built a supply chain centered on liquid hydrogen, and DEOKYANG ENERGEN CORPORATION, an industrial gaseous-hydrogen specialist, agreed to expand their cooperation in the hydrogen-mobility sector.
As a first step, DEOKYANG ENERGEN CORPORATION will invest in building new gaseous-hydrogen refueling infrastructure on sites adjacent to liquid-hydrogen stations operated by SK Innovation E&S and will supply the gaseous hydrogen. SK Innovation E&S will develop demand for hydrogen-powered commercial vehicles and build and operate combined gaseous- and liquid-hydrogen refueling stations.
The two companies plan to review and pursue the project in phases, focusing on five stations with strong commercial potential after considering business feasibility and regional hydrogen demand. Total project costs are expected to be approximately KRW 6 billion per station, with annual gaseous-hydrogen supply projected at approximately 180 metric tons.
Through this cooperation, SK Innovation E&S plans to establish stable refueling infrastructure, including by diversifying its hydrogen sources. In May 2024, SK Innovation E&S completed a liquid-hydrogen plant in Incheon Metropolitan City capable of producing 30,000 metric tons of liquid hydrogen annually. It currently supplies liquid hydrogen to South Korea’s hydrogen-mobility market.
Jeon Young-jun, head of the New Energy Business Division at SK Innovation E&S, said, "For the hydrogen-mobility market to continue growing, it is important to establish a foundation capable of supplying competitively priced hydrogen reliably." He added, "We will expand demand for hydrogen mobility by building a stable supply base encompassing both liquid and gaseous hydrogen."

[email protected] Kim Mi-hee Reporter