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Argus Media Limited

09/10/2021 | News release | Distributed by Public on 09/10/2021 03:31

Australia’s Woodside in South Korea hydrogen bus JV

Australian independent Woodside Petroleum has joined a consortium of South Korean firms to establish HyStation, a company that aims to construct and operate hydrogen refuelling stations to service public buses in South Korea.

The firms are South Korean state-owned gas supplier Kogas; Hydrogenic Energy Fund, which is majority owned by automaker Hyundai Motor; South Korean conglomerate Samsung C&T; the Industrial Bank of Korea; and industrial equipment manufacturer Hyundai Rotem, which is also part of the Hyundai group. The Korea Development Bank has agreed to provide some financial support for the newly-established firm, Woodside said.

HyStation anticipates that its first hydrogen bus refuelling station will be operational by the end of 2022, Woodside added.

The latest hydrogen joint venture builds on Woodside's previous investment in HyNet, a consortium that is constructing hydrogen refuelling stations for passenger vehicles in South Korea. The consortium, which includes Woodside, aims to roll out 100 such refuelling stations in South Korea by 2022.

By Kevin Morrison