On February 23rd, LowCarbon signed a three-way business agreement (MOU) with the U.S. Florida Space Florida and Ocean Green Hydrogen at its headquarters in LowCarbon to build a clean hydrogen hub in Florida.

This business agreement is a three-way memorandum of understanding (MOU) with LowCarbon, Ocean Green Hydrogen, and Space Florida, and we look forward to cooperating with the overall U.S. Clean Hydrogen Project, DAC, and CCU projects in the future.

It is expected to strengthen business development and financial cooperation for the development and cooperation of Florida Clean Hydrogen Hub, including Kennedy Space Center, and the installation of carbon capture (CCU) and direct air capture (DAC) facilities.

Ocean Green Hydrogen, a party to the agreement, is a company established under the laws of Florida, USA, and is developing clean energy projects in Florida and across the United States to support craft projects such as Boeing and the United States Air Force.

We use clean energy to make a clean earth.
I believe we all have a role to play in achieving NetZero.

Ocean Green Hydrogen CEO Jay Beyrouti

CEO Jay Beiruti, who made a surprise visit to LowCarbon’s headquarters on Feb. 22, said in a speech to commemorate the agreement, “I think Ocean Green Hydrogen is destined to meet LowCarbon and CEO Lee Chul with the Space Florida.”

Ocean Green Hydrogen and LowCarbon have joined a partnership for the U.S. government’s hydrogen hub business as partners of LowCarbon, starting with the signing of MOA between the two companies to supply clean hydrogen in Florida last June.

Through the agreement, Ocean Green Hydrogen promised to cooperate with LowCarbon to secure the necessary approval, permission and licenses from the U.S. government and Space Florida as partners in the U.S. government’s hydrogen hub business.

Frank DiBello, chairman of Space Florida, another party to the business agreement, saying, “We will form a partnership with LowCarbon to carry out the clean hydrogen business.”

Space Florida is a state agency established in Florida and is home to space-related businesses such as the Kennedy Space Center, SpaceX, and Blue Origin, and is a representative space industrial complex in the United States.

In conjunction with the Florida hydrogen hub, it plans to build a separate clean hydrogen hub in the Kennedy Space Center and build a clean hydrogen ecosystem such as hydrogen buses, hydrogen charging stations, and hydrogen trucks, and plans to carry out a five-ton daily pilot project.

Space Florida is also planning to install a large number of LowCarbon (DAC) devices developed by LowCarbon at the Kennedy Space Center to collect and resource carbon dioxide emitted from space rocket launches, creating a clean hydrogen ecosystem that can supply space rocket fuel in the long run.

LowCarbon has already carried out preparatory projects for signing main contracts for these projects, signed EPC service contracts with Korea Gas Technology Corporation for clean hydrogen production, and is also working on design and quotation with CCC Group, a U.S. EPC company.

In fact, LowCarbon established its U.S. subsidiary in January 2022 and has been operating offices in Florida and Texas to prepare for business.

“The U.S. has been preparing for a year knowing that the door to innovative technologies is open,” said CEO Lee Chul of LowCarbon, adding, “I was surprised to see them evaluate them with technology and support demonstration projects.”

It is the first Korean company to export the CCU climate technology (C-Tech)-based green industry to the United States for carbon neutrality, and interest and expectations in the industry and policy as well as the financial sector are expected to grow.