Samsung C&T will strengthen cooperation with POSCO in the green hydrogen business.
The company's Construction Business Division announced on Nov. 4 that it has signed a memorandum of understanding (MOU) with POSCO for comprehensive business cooperation to develop overseas green hydrogen production facilities, build infrastructure for hydrogen storage and develop technologies related to liquefied hydrogen.
Under this agreement, the two companies will cooperate in all stages of the green hydrogen business from construction of the infrastructure for hydrogen production to utilization of the produced hydrogen.
Samsung C&T will focus on green hydrogen production based on its experience in carrying out global renewable energy projects and its construction experience in the Middle East, which is a key hub of the global green hydrogen business. It also plans to focus on developing storage tank technology for liquefied hydrogen through its U.K. subsidiary Whessoe Engineering, which specializes in energy storage facilities.
POSCO will develop materials required for transporting and storing hydrogen based on its development of the industry's first cryogenic high manganese steel (HMS) for LNG storage tanks. POSCO will apply its high-strength manganese steel and stainless steel to a storage tank for liquefied hydrogen developed by Samsung C&T to secure hydrogen storage technology with high economic feasibility.
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