Denmark-headed Haldor Topsoe A/S, a global leader in high-performance catalysts and proprietary technologies for the chemical and refining industries has announced that it has signed a Memorandum of Understanding (MoU) with Hyundai Oilbank Company, a leading oil refiner in South Korea. Under the MoU, the two parties will collaborate on developing sustainable and efficient solutions within a range of green energy solutions.
Hyundai Oilbank refines 520 000 barrels of oil a day and supplies oil products and services through 2 500 filling stations nationwide. Hyundai Oilbank has started a transformation of its production to significantly reduce carbon emissions in its customer offerings.
Hyundai Oilbank and Haldor Topsoe will jointly seek to identify opportunities within blue and green hydrogen, waste plastic recycling, biorefinery, electro-fuels (eFuels), carbon capture, utilization, and storage (CCUS), and other solutions to reduce carbon emissions.
The Memorandum of Understanding (MoU) will support Topsoe in further optimizing its clean energy technologies and potentially enable Hyundai Oilbank to increase its low-carbon business and meet the company’s target that 70 percent of total profit should derive from eco-friendly business by 2030.
We’re very satisfied to support Hyundai Oilbank in their efforts to transform their business model to sustain a green future, and we look forward to further optimizing our green energy technologies together, said Chokri Mousaoui, EVP and Head of Green Hydrogen at Haldor Topsoe.
