Florida governor signs MOA with LowCarbon to build clean hydrogen hub



  • LowCarbon-Florida Governor, Ron DeSantis signs MOA to build Florida clean hydrogen hub
  • LowCarbon, the climate tech first mover, is expected to benefit from proceeding jointly with Florida State Government
< Photo description: Florida Governor Ron DeSantis (second right), Low Carbon Vice President Kim Seok-bung (first right), Low Carbon America CEO Henry J. Joeng (first left), and Hani S. Banoub Ocean Green Hydrogen Vice President (second left) are taking photos after signing the MOA agreement. (Four Seasons Hotel in Seoul, April 26) / Photo provided by LowCarbon>

A South Korean climate tech company, LowCarbon, and Ron DeSantis, Governor of Florida, signed a MOA for the construction of a Florida clean hydrogen hub at the Four Seasons Hotel in Seoul on the 26th. This is an advancement of the MOU signed with SpaceFlorida and OceanGreenHydrogen in February and is expected to allow LowCarbon to enter the US hydrogen market and benefit from the US IRA subsidy.

With the signing of this MOA, LowCarbon is expected to jointly participate in the $8 billion clean hydrogen hub project sought by the US Department of Energy with the Florida government, thereby showcasing the cooperation between the Florida government and LowCarbon. The project is expected to cost more than $1 billion, and LowCarbon will benefit from policy support for the construction of the clean hydrogen hub at the state level in Florida.

Florida Governor Ron DeSantis, who is considered as the next U.S. Republican presidential candidate, said in an interview shortly after the signing of the MOA, “I am very happy and honored to be able to jointly sign the MOA.” And “LowCarbon’s carbon capture technology is really positive and we will work together to build a clean hydrogen hub in a strategic area in central Florida.” he said, expressing huge expectations.

< Photo description: Florida Governor Ron DeSantis is signing the Florida Clean Hydrogen Hub development MOA. / Photo provided by LowCarbon>

The background that Florida Governor, Ron DeSantis signed of the MOA agreement is that he is considering South Korea’s LowCarbon as the most suitable partner to produce economical clean hydrogen and will lead the era of clean energy together.

Florida, which has recently been hit hard by the climate crisis in the aftermath of the hurricane, is also offering incentives for clean hydrogen production and additional incentives based on job creation and capital investment as a state policy to encourage clean energy.

Florida Governor Ron DeSantis is attempting to differentiate himself from the Republican Party’s existing fossil fuel-driven energy policies, such as by rejecting a bill that would significantly cut solar power subsidies. He has announced a plan for a clean hydrogen hub, with a focus on job creation through the promotion of the clean energy industry, as well as reducing carbon emissions and addressing inflation as key state government tasks.

LowCarbon is the climate technology company that uses CCUS and DACCS technology to solve the climate crisis and strengthen Korea’s industrial competitiveness. LowCarbon signed a three-party MOU on February 22 with the Space Florida and Ocean Green Hydrogen for the construction of Florida’s clean hydrogen hub project.

The main purpose of the MOA is to establish cooperation and partnerships among the parties involved in the construction of Florida’s clean hydrogen hub, which includes ▲forming partnerships and developing projects for the Florida clean hydrogen hub, ▲Making use of carbon capture utilization (CCU) and direct air capture (DAC) technologies in aerospace industry sites such as Kennedy Space Center, ▲supplying and distributing clean hydrogen, ▲establishing and implementing joint project plans, ▲developing mutually beneficial business opportunities and financial investment cooperation for the clean hydrogen hub project.

LowCarbon is set to hold a groundbreaking ceremony for its clean hydrogen production plant at the Mulberry site in Florida on June 6, with key political figures including the governor expected to attend.

LowCarbon is expected to expand their hydrogen energy supply industry across the United States by collaborating with the Florida state government’s clean energy policies beyond the state of Florida. <End>