Umicore Unveils Cooperation Plans for Hydrogen Fuel Cell Value Chain
Umicore, a Belgian cathode material company, has introduced plans for cooperation within the hydrogen fuel cell value chain. The announcement was made during the 'Korea-Europe Hydrogen and Renewable Energy Partnership Plaza Online Forum,' held on June 12, as revealed by the Ministry of Trade, Industry and Energy (MOTIE) and the Korea Trade-Investment Promotion Agency (KOTRA).
The forum featured participation from global companies in the European hydrogen and renewable energy sectors, material and component companies in the hydrogen sector, German R&D institutions, and both domestic and international financial institutions. Discussions centered on cooperation plans in response to the European Union's 'REPowerEU' policy package, aimed at rapidly expanding renewable energy use to 42.5% by 2030 and increasing generation targets to 69%.
The forum comprised four sessions focused on project co-development, sourcing of hydrogen sector equipment, R&D of materials and components for the hydrogen sector, and financial support. Representatives from Spanish companies Iberdrola and Repsol, and Denmark's Ørsted, the leading wind power company, discussed joint development plans for green hydrogen production projects.
Umicore highlighted its role in the hydrogen fuel cell material value chain, while Italian water treatment company De Nora introduced advanced electrochemical technology for hydrogen production. German company Heraeus presented a plan to recycle rare metals to expand Proton Exchange Membrane (PEM) water electrolysis technology, and the Fraunhofer Institute for Structural Resistance and System Stability (LBF) shared its global R&D program for hydrogen materials and components. Financial support programs were introduced by the Export-Import Bank of Korea and CITI Bank.
Kim Hyun-cheol, head of KOTRA's European Region, emphasized the importance of joint development cooperation with European companies for Korean firms to successfully enter the global hydrogen and renewable energy market. "We hope that this event will lay the foundation for our companies to lead the global hydrogen and renewable energy market," he said.
