Lotte Fine Chemical is joining hands with US ammonia-based hydrogen production and power generation company Amogy to fully launch its clean energy business.

On the 10th, Lotte Fine Chemical announced that on the 9th it had signed a memorandum of understanding (MOU) with Amogy for cooperation in ammonia-based clean energy business. Shin Yoo-yeol, head of the Future Growth Office at Lotte Corporation and eldest son of Lotte Group Chairman Shin Dong-bin, also attended the signing ceremony, lending further weight to the group’s new hydrogen and ammonia businesses.

The core of this agreement is to combine Lotte Fine Chemical’s ammonia distribution infrastructure, the largest in Asia, with Amogy’s proprietary ammonia cracking technology. Lotte Fine Chemical has been building related infrastructure by becoming the first in the world to import green ammonia in March this year and successfully commercializing ship bunkering (the operation of supplying fuel to ships) in April. Amogy possesses technology that converts ammonia into high-purity hydrogen and power generation systems that utilize it.

The two companies will cooperate in three areas: construction of green hydrogen charging stations, distributed green ammonia power generation, and green ammonia bunkering. Lotte Fine Chemical plans to build an integrated platform for related infrastructure and thereby emerge as the “No. 1 clean ammonia hub in Asia.” With a liquefaction temperature of minus 33 degrees Celsius, ammonia is more efficient than hydrogen (minus 253 degrees Celsius) in terms of storage and transportation, and is drawing attention as a next-generation hydrogen carrier and carbon-free eco-friendly fuel.

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