Hyundai Oilbank Teams Up with Haldor Topsoe to Develope E-Fuels

Hyundai Oilbank Vice Chairman & CEO Kang Dal-ho and Haldor Topsoe President Roeland Baan attend an online ceremony to sign an MOU to develop ecofriendly electrofuels, or e-fuels on Nov. 4.

Hyundai Oilbank will join forces with Haldor Topsoe, a Danish hydrogen energy company, in developing eco-friendly electrofuels, or e-fuels.

Hyundai Oilbank said on Nov. 4 the company struck an MOU with the Danish company, which specializes in carbon reduction technologies.

Both sides agreed to collaborate in R&D in diverse eco-friendly sectors such as e-fuels, biofuels, and waste plastic-to-resources.

Among those on hand at the signing ceremony were Hyundai Oilbank Vice Chairman & CEO Kang Dal-ho and Haldor Topsoe President Roeland Baan.

E-fuels, also known as synthetic fuels, are produced by mixing hydrogen with carbon dioxide. E-fuels are emerging as next-generation fuels, as they have properties similar to those of gasoline and diesel.

Like petroleum, e-fuels emit carbon dioxide in the course of combustion, and carbon can be captured and reutilized, so e-fuels are drawing attention as next-generation eco-friendly fuels.

E-fuels can be used via the existing gas station infrastructure, unlike hydrogen cars and EVs, which need a huge investment into charging infrastructure.

Haldor Topsoe produces blue and green hydrogen from ammonia, The company owns excellent green hydrogen technology by producing hydrogen.

E-fuel production is based on the extraction of hydrogen.

This happens by means of an electrolysis process that breaks down water (e.g. seawater from desalination plants) into its components of hydrogen and oxygen. For this process and further production steps, electricity is required.

Hyundai Oilbank is aggressively implementing a carbon capture and utilization (CCU) project to reutilize carbon into an eco-friendly construction material and industrial CO2.

Hyundai Oilbank and Haldor Topsoe are expected to have synergetic effects to secure an upper hand in the e-fuel market.

Chung Hae-won, head of Hyundai Oilbank’s safety production division, and President Hong Ji-yoo of Synbio Chemical, attend a ground-breaking ceremony to build a liquid carbon dioxide plant at the Daejuk Industrial Complex in Chungcheongnam-do on June 14. (Photos: Hyundai Oilbank)

Hyundai Oilbank to Sell Blue Hydrogen with No Greenhouse Gas Emissions

Hyundai Oilbank is building infrastructure to retrieve and utilize all carbon dioxide produced in the hydrogen production process, moving the company closer to entering the blue hydrogen business.

Hyundai Oilbank held a groundbreaking ceremony to build a liquid carbon dioxide plant at the Daejuk Industrial Complex in Chungcheongnam-do in cooperation with Synbio Chemical, the nation’s largest liquid carbon dioxide maker, on June 14.

Among those on hand on the event were Chung Hae-won, head of Hyundai Oilbank’s safety production division, and President Hong Ji-yoo of Synbio Chemical.

Synbio Chemical will invest 80 billion won and dedicate the plant, which is capable of producing carbon dioxide in semiconductor manufacturing and dry ice, by the first half of next year.

Hyundai Oilbank will supply 200,000 tons of carbon dioxide annually at its Daesan plant as a raw material to Synbio Chemical.

Hyundai Oilbank plans to raise the annual supply of carbon dioxide from 90,000 tons to a maximum of 360,000 tons in 2022 by ramping up cooperation with the current consumer company Sundo Group.