Hyundai Oilbank, Haldor Topsoe team up for eco-friendly fuels

Asia's Tech News Daily

Hyundai Oilbank, Haldor Topsoe team up for eco-friendly fuels

Hyundai Oilbank and Haldor Topsoe, a Danish company specializing in carbon reduction technologies, signed a memorandum of understanding in early November to develop eco-friendly fuels. Courtesy of Hyundai Oilbank

By Yi Whan-woo

Hyundai Oilbank has teamed up with Haldor Topsoe, a Danish company specializing in carbon reduction technologies, to develop eco-friendly fuels, the Korean company said Tuesday.

It said the cooperation on the so-called e-fuels will be carried out in accordance with a memorandum of understanding (MOU) signed between the two sides in early November.

Also known as electrofuels, e-fuels are an emerging group of carbon-neutral fuels made using renewable energy and can power automobiles, airplanes and ships.

E-fuel is made out of hydrogen produced from water via electrolysis.

The Danish company has advanced technology in separating hydrogen from blue and green ammonia.

“The e-fuels especially have advantage over other environmentally-friendly energy sources, as they can be supplied using the current infrastructure of gas stations,” Hyundai Oil bank said in a press release. “This characteristic is critical considering the massive amount of investment required for next-generation sources of energy for hydrogen- and electricity-powered cars.”

Hyundai Oilbank CEO Kang Dal-ho vowed to enhance international cooperation on technology in various eco-friendly fields, including plastic wastes.

The Korean refiner has been stepping up efforts to establish a foothold in the hydrogen fuel cell business by building relevant plants.

Aiming to create a hydrogen value chain by 2030, Hyundai Oilbank is especially interested in blue hydrogen that can be supplied to desulfurization facilities or sold as car fuel.

Founded in 1940, Haldor Topsoe has expertise in producing blue and green hydrogen from ammonia, which produces less carbon dioxide. It also uses renewable energy in the production of hydrogen.

The Danish firm also has business cooperation with Air Products, the world’s largest hydrogen supplier from the United States that has a separate partnership with Hyundai Oilbank to produce hydrogen.

Haldor Topsoe recently agreed to provide its blue hydrogen technology to Air Products’ blue hydrogen complex in Alberta, Canada.

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