Hyundai Glovis launches eco-friendly brand ‘ECOH’

Hyundai Glovis, a logistics company and affiliate of Hyundai Kia Automotive Group, has launched its “ECOH” eco-friendly brand to accelerate its expansion of sustainable business areas, including batteries for hydrogen and electric vehicles (EVs).

The company will create value in green energy businesses and tap into its existing strength in the logistics business.

The brand name ECOH is a combination of “Eco” and “Human.”

Hyundai Glovis plans to help build a hydrogen value chain by producing, storing, distributing and supplying the gas as a special supply chain management firm.

First, it will expand the number of its hydrogen shipping centers to nine by 2030 and supply clean gas to over 360 filling stations nationwide.

It also plans to export hydrogen to Australia, New Zealand and the Middle East.

Hyundai Glovis has already established a consortium with leading domestic companies and formed strategic ties with global ammonia producers.

Ammonia, a compound of hydrogen and nitrogen, is considered the most efficient hydrogen storage and transportation medium. Hydrogen can be extracted from ammonia after being shipped across the ocean.

Green hydrogen will be transported on two very large gas carriers (VLGC), and Hyundai Glovis will consider building extra ships based on business expansion.

Hyundai Glovis is also interested in storing and transporting liquefied hydrogen. It plans to start that business by 2024. Some domestic firms have shown their willingness to participate in the liquefied hydrogen retail business as the method of liquefying and transporting high-pressure hydrogen gas is receiving much attention.

“We are preemptively fostering domestic hydrogen logistics and global hydrogen maritime transportation businesses considering the growth potential of the hydrogen economy,” a Hyundai Glovis official said.
Source: The Korea Times