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Posco Begins Construction of Fuel Cell Stack Manufacturing Plant
04/16/2010 - Posco had a groundbreaking ceremony on April 7 for a new fuel cell stack manufacturing plant in the Pohang Young-il bay rear industrial complex. Construction is expected to be completed in December 2010.
Posco had a groundbreaking ceremony on April 7 for a new fuel cell stack manufacturing plant in the Pohang Young-il bay rear industrial complex.
About 300 people attended the event, including Assemblyman Sang-Duk Lee and Byung-suk Lee, Vice-Minister of Knowledge Economy Young-Hak Kim, Vice-Governor Won-sik Gong of Gyeongsangbuk-do, Vice-Mayor Jung-Yong Yun of Pohang, and CEO Jun-Yang Chung.
The plant, which cost 70 billion KRW to build, spans about 43,000 m2 and will produce 100 MW in fuel cell stacks, enough power for 120,000 households, according to Posco. Construction is expected to be completed in December.
Once the factory is finished, Posco will acquire a system to produce fuel cell core products itself. The company notes that the positive effects of such a mass production system include lower prices, faster production time, fostering of parts manufacturers, job creation, and easier follow-up service and supply of parts.
”While Posco has adopted environmental management as its business philosophy to develop new steel processes that reduce greenhouse gases, the company is also working on renewable energy business for green growth,” said Chung. He added that Posco will “advance as the global leader in green growth through the fuel cell operations.”
Posco expects the use of fuel cells to increase as the implementation of Renewable Portfolio Standard (RPS) in 2012 approaches. With the construction of a 100-MW fuel cell BOP (Balance of Plant: auxiliary system in charge of fuel distribution and power conversion) manufacturing plant in 2008 as its first step, Posco has been increasing investments in the development of next-generation fuel cells.
About 300 people attended the event, including Assemblyman Sang-Duk Lee and Byung-suk Lee, Vice-Minister of Knowledge Economy Young-Hak Kim, Vice-Governor Won-sik Gong of Gyeongsangbuk-do, Vice-Mayor Jung-Yong Yun of Pohang, and CEO Jun-Yang Chung.
The plant, which cost 70 billion KRW to build, spans about 43,000 m2 and will produce 100 MW in fuel cell stacks, enough power for 120,000 households, according to Posco. Construction is expected to be completed in December.
Once the factory is finished, Posco will acquire a system to produce fuel cell core products itself. The company notes that the positive effects of such a mass production system include lower prices, faster production time, fostering of parts manufacturers, job creation, and easier follow-up service and supply of parts.
”While Posco has adopted environmental management as its business philosophy to develop new steel processes that reduce greenhouse gases, the company is also working on renewable energy business for green growth,” said Chung. He added that Posco will “advance as the global leader in green growth through the fuel cell operations.”
Posco expects the use of fuel cells to increase as the implementation of Renewable Portfolio Standard (RPS) in 2012 approaches. With the construction of a 100-MW fuel cell BOP (Balance of Plant: auxiliary system in charge of fuel distribution and power conversion) manufacturing plant in 2008 as its first step, Posco has been increasing investments in the development of next-generation fuel cells.
The company also plans to develop and launch an alternative emergency power fuel cell that can replace diesel generators, as well as a fuel cell for buildings to be installed in houses, apartments, and office buildings in 2012. In 2015, a fuel cell for auxiliary power for large ships is planned to be launched, further expanding the market.
Posco is developing fuel cell technology through energy specialist Posco Power, building a BOP manufacturing plant, an integrated service center, and a research center. The company now operates 22.5-MW fuel cells in 11 regions nationwide.
Posco is developing fuel cell technology through energy specialist Posco Power, building a BOP manufacturing plant, an integrated service center, and a research center. The company now operates 22.5-MW fuel cells in 11 regions nationwide.
