From Forbes, November 11:
SK Group received a $2 billion boost from U.S. private equity giant KKR, which would help fuel the South Korean conglomerate’s plans to become a hydrogen powerhouse amid pressure to reduce carbon emissions.
KKR last week announced that it had bought $2 billion worth of newly issued redeemable convertible preferred shares of SK E&S, an energy subsidiary of SK Group. SK E&S is “planning to be a leader in development of new liquid hydrogen infrastructure to create a hydrogen hub in South Korea,” notes Rajiv Biswas, Asia-Pacific chief economist with research firm IHS Markit.
The hydrogen hub would start with major investments across Korea in Ansan, Ulsan and Wanju. The program will eventually produce hydrogen to power fuel-cell electric vehicles at a “network of refilling stations,” says Biswas. Hydrogen-powered vehicles use hydrogen gas and combines it with oxygen from the air to produce electricity, emitting only water vapor from the tailpipe....
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