November 30, 2024

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Corporate logo of Kolon Group (Kolon Group)

Fashion-to-energy conglomerate Kolon Group said Wednesday that its pick of hydrogen fuel cell energy as the group’s core business for the future will expand under its unique, one-stop service platform for hydrogen business with an aim to become the industry’s major supplier.

As part of the “Kolon H2 Platform,” the group plans to expand and renovate the current hydrogen business that involves mass production of polymer electrolyte membranes -- a core material required for manufacturing hydrogen fuel cell vehicles -- under Kolon Industry. The firm will make a foray into clean hydrogen production and seek to create a platform that offers one-stop service encompassing everything from production to transportation, storage and electricity production using hydrogen.

According to Kolon Group, its construction and engineering arm Kolon Global will take the lead in hydrogen production, based on its expertise of running wind power generation business. At night, the firm will make use of inactive electricity to operate the water electrolysis device and create clean hydrogen.

The hydrogen produced will be delivered via a specially designed high-pressure storage tank invented by Kolon Plastic and Kolon Glotech, a company that manufactures special fabrics for cars.

Kolon-produced hydrogen will also be used for raw materials of the group’s power generation business. Kolon Industry, a chemical and textile manufacturing unit of the group, will generate electricity on its own using hydrogen by introducing related facilities at all its worksites across the nation.

Earlier this year in May, Kolon Group said it would invest 900 billion won ($690 million) over the next five years in environmentally friendly sectors including hydrogen and wind power generation business.

By Kim Da-sol (ddd@heraldcorp.com)