On April 26, Hyundai Steel opened the HyNet Dangjin Hydrogen Shipment Center at Dangjin Integrated Steelworks to supply up to 2,000 tons of hydrogen at a 20% lower price.
The head of Dangjin Steelworks, the mayor of Dangjin, members of the industry and related organizations attended the ceremony to congratulate the center’s opening. The event started with opening remarks from the CEO of HyNet, then proceeded with congratulatory remarks from guests, a ceremony to celebrate the center’s opening, and the taking of commemorative photos.
The HyNet Dangjin Hydrogen Shipment Center will distribute hydrogen gas, a byproduct from steel plant operation, to be used as fuel for hydrogen vehicles, but for 20% less than the original price of about USD 60,000. In addition, it will supply up to 2,000 tons of hydrogen that can be used to fuel 13,000 hydrogen cars per year for Seoul and other regions of Korea.
An abundance of gases are made as byproducts in the process to produce iron molds in Hyundai Steel plants, and among them is 3,500 tons of high-purity hydrogen produced per year. Excluding the amount of hydrogen used by Hyundai Steel for its own facilities, 2,500 tons of this hydrogen byproduct will be distributed to the market through the Dangjin Hydrogen Shipment Center, amounting to USD 25 million for a market price of 7 dollars per 1 kg of hydrogen fuel for cars.
At the Hydrogen Shipment Center, stored hydrogen will be loaded into hydrogen tube trailers at high pressure for eventual distribution. The center was established and funded by the Korea Gas Corporation and the Hyundai Motor Company. The center will be operated by the Hydrogen Energy Network (HyNet), with the hydrogen provided by Hyundai Steel. Transportation of hydrogen tube trailers will be managed by Hyundai Glovis and SPG Hydrogen will serve as a distribution advisor.
Meanwhile, Hyundai Steel plans to produce 60,000 tons of hydrogen by 2030 as a byproduct of its iron mold production process, providing a stable supply of hydrogen. In the process, the company will help with the conversion of transportation and business vehicles at major workplaces, including steel mills, into hydrogen vehicles.