On August 31, 2023, Hyundai Rotem is slated to finalize a significant Memorandum of Understanding (MOU) with the Korea Environment Agency for the provision of "biogas-based hydrogen fuel." High-ranking executives including Hyundai Rotem's CEO, Lee Yong-bae, and officials from the Korea Environment Corporation, including Chairman Ahn Byung-ok, are expected to participate in the signing ceremony.
The primary goal of this collaboration is to establish the necessary infrastructure to supply hydrogen fuel for Hyundai Rotem's hydrogen trams and commercial vehicles. This move towards domestic hydrogen energy production carries the potential to stabilize hydrogen prices, which currently heavily rely on imports. Moreover, this initiative aligns seamlessly with the Korean government's recent commitment to achieve a "net zero (zero carbon emissions) policy by 2050."
Hyundai Rotem's ambitious vision extends to the creation of hydrogen-electric trams, characterized by futuristic designs currently under development, with a production goal set for this year. The company's strategic approach involves a gradual expansion of its hydrogen tram portfolio, introducing models of various sizes.
In 2020, Hyundai Rotem successfully completed the establishment of a hydrogen extraction facility at the Uiwang Research Institute. Furthermore, they are actively operating a hydrogen extraction system for a bio-green hydrogen refueling station in Chungju.
Beyond these achievements, Hyundai Rotem remains deeply engaged in pioneering technologies like liquid hydrogen storage and carbon dioxide capture, crucial for the production of green hydrogen. Utilizing biogas extracted from industrial waste to generate hydrogen adds another dimension to the company's dedication to Environmental, Social, and Governance (ESG) management.