U.S.-based FuelCell Energy and Korea Hydro & Nuclear Power (KHNP) have agreed to jointly pursue hydrogen energy business initiatives and have signed a memorandum of understanding (MoU) outlining the possibilities.
Specifically, the partnership will focus on the development and implementation of advanced energy solutions using FuelCell Energy’s solid oxide electrolysis hydrogen platform and KHNP’s nuclear power plants within the scope of relevant laws and regulations.
FuelCell Energy claimed that the initiative will combine South Korea’s domestic clean energy sources with its electrolyzer platform that uses electricity and thermal energy sources to produce lower-cost, domestic clean hydrogen, and diversify the country’s hydrogen supply beyond imported fuels.
As reported, hydrogen produced from electrolysis can be stored long-term and transported, allowing zero-carbon stored hydrogen energy from wind, solar, hydro and nuclear to be available on demand. The electrolyzer can also be used to develop e-fuel for the transport sector and to produce ammonia for fertilizer.
Kong Young-gon, Vice President of Hydrogen and Smart Business Department of KHNP, commented: “We are excited to partner with FuelCell Energy to explore new opportunities in the path of energy transition through hydrogen initiatives. This collaboration aligns with our commitment to innovation and sustainability, and we look forward to working together to develop advanced energy solutions that will benefit both our companies and the communities we serve.”
Jason Few, President and CEO of FuelCell Energy, stated: “By combining our expertise with KHNP’s extensive experience in the energy sector and their country-critical power generation fleet, we are well-positioned to drive innovation and create sustainable energy solutions. We look forward to the positive impact our collaboration will have on the industry and South Korea.”
FuelCell Energy is said to have more than 100 megawatts (MW) installed and operating in South Korea, and as for KHNP, the company operates a diverse range of electric-generating power plants in the country, including nuclear, hydroelectric, renewable energy and fuel cells.
To remind, in 2023, FuelCell Energy and Malaysia Marine and Heavy Engineering (MMHE) signed a MoU to collaborate on the development of large-scale electrolyzer facilities in Asia, New Zealand, and Australia. The companies expect to deliver electrolyzer equipment to make large-scale clean hydrogen production an easily accessible and viable energy option.