Bloom Energy Partners With SK ecoplant For Hydrogen Energy Project In South Korea

Bloom Energy Corp BE and SK ecoplant, a subsidiary of South Korean conglomerate SK Group, have reported a sale of Bloom's electrolyzer technology for hydrogen production.

The technology will be used to deploy hydrogen as an energy source in a large-scale green hydrogen demonstration with the Korea Southern Power Co Ltd (KOSPO) and local government.

The hydrogen project, first-of-a-kind in South Korea, will commence in late 2025 and will include 1.8 megawatts (MW) of Bloom's Solid Oxide Electrolyzer (SOEC) technology to develop green hydrogen at scale for use as transport fuel on Jeju Island.

"South Korea has been a leader in policies enabling clean hydrogen, and the efficiency and flexibility of Bloom's SOEC will demonstrate our commitment to the lowest cost green hydrogen for South Korea," said Bloom's founder, chairman and CEO KR Sridhar.

Jeju Island's 'Carbon Free Island 2030' project aims to fully convert all vehicles and electricity generation to renewables by 2030.

Bloom Energy and SK ecoplant have deployed 400 MW since the beginning of the partnership in 2018.

Also Read: Bloom Energy And SK ecoplant Supercharge Sustainable Power With Extended Deal: Details

Price Action: BE shares closed higher by 1.06% at $15.25 on Wednesday.