POSCO Holdings, Samsung Engineering, Lotte Chemical, Malaysian Sarawak Economic Development Corporation Energy, and Malaysian Sarawak Energy for Green Hydrogen Business, today (September 15) revealed the five firms would cooperate on Sarawak’s green hydrogen business.
Under the MoU, the parties have agreed to conduct joint research for a stable power supply under the H2biscus project, which is anticipated to use a minimum of 900MW of power.
Additionally, the companies will check preparations for a substation, powerlines, and other infrastructure facilities. H2 View understands the feasibility study will be finalised this year, with plans to begin production of green hydrogen at the end of 2027.
The latest agreement builds off an MoU signed in January (2022), after Lotte Chemical, Samsung Engineering, POSCO, and Malaysia SEDC Energy partnered to establish hydrogen production capacity of 7,000 tonnes per year at the Sarawak site.
Read more: 7,000 tonne clean hydrogen project to bolster the Asian hydrogen market
H2 View understands the hydrogen produced from the Sarawak is planned to be used in Malaysia, as well as being exported to Korea in the form of Ammonia.
It is hoped the H2biscus project could strengthen the role of hydrogen in the region. Byeong-og Yoo, Senior Executive Vice-President, at POSCO, commented, “If the discussion on the power supply is successfully progressed, the H2biscus project will be the hub of hydrogen supply in Asia.”
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