Recently, Yeild Capital and Korea Gas Corporation "referred to as KOGAS", the Hyundai Motor Group's subsidiary "Hyundai Rotem CO.", and other five companies signed the shareholder agreement on establishing the new joint venture "HyStation Co., Ltd" (tentative name). The joint venture will build and operate an integrated hydrogen refueling station. In the future, the completed hydrogen refueling station can be used for hydrogen and natural gas vehicle hydrogen refueling at the same time, which will significantly improve the convenience for consumers and the economic efficiency for the business.

Shareholder Agreement Signing Site

On the day of the signing, more than 40 related leaders including Lee Seung-cheol, the Deputy General Manager of Operation and Management of KOGAS, Kim De-ho, the General Manager of Hyundai Rotem, Kim Ying-sun, the Senior Manager of Samsung C&TCCorporation, and Shaun Gregory, Senior Manager of Woodside Energy Technologies (Woodside), participated in the event.

The joint venture established through this agreement will build six integrated hydrogen refueling stations around urban bus stations, which can fill 72 hydrogen buses with hydrogen every day. Unlike other hydrogen refueling stations that receive and supply gas and hydrogen, the hydrogen production process is vertically integrated in the station. In addition, the integrated hydrogen refueling station will build LNG, CNG and other natural gas vehicle refueling facilities based on the characteristics of local vehicle demand. Since it can not only provide fuel for hydrogen, but also for natural gas vehicles, it is expected to improve consumer convenience and increase the profitability of filling stations. Once the integrated hydrogen charging station is completed, the current trend of conversion from diesel and CNG city buses operated by local governments to hydrogen-powered buses is expected to gradually accelerate. Hydrogen-powered buses are the ultimate eco-friendly transportation tool that does not emit any greenhouse gases or fine dust. Replacing a diesel bus with a daily mileage of 348 kilometers is expected to reduce about 92 tons of carbon dioxide each year.

Therefore, KOGAS plans to focus on the revitalization of hydrogen by carrying out various projects, such as the establishment of hydrogen vehicle refueling infrastructure, the creation of an efficient hydrogen distribution market, the use of natural gas to economically supply hydrogen, and the development and introduction of overseas green hydrogen technology. An official from Korea Gas Corporation said, “We expect that the joint venture will further activate the promotion of hydrogen-powered commercial vehicles. This initiative will play an important role in improving the atmospheric environment and cultivating related industries. Through this cooperation, we will further cooperate with All parties consolidate close cooperation in the field of hydrogen energy industry."

As a leading incubation and investment platform for the entire hydrogen energy industry chain in China, Yeild Capital Technology Partner Daniel Wang said: "Yield is very honored to be the founding shareholder of HyStation, helping the team and the company to develop betterThere are two main reasons for the establishment of HyStation: first, to reduce transportation and operating costs through the construction of integrated hydrogen refueling stations, and reduce terminal hydrogen costs; second, to enter the Korean hydrogen energy market, explore and verify the construction of integrated hydrogen refueling stations, operation and business model."

Yield Capital and its overseas hydrogen energy strategic partner, Hyundai Motor Group jointly established Hydrogenic Energy Fund I L.P.  in 2019 to promote the development of the hydrogen energy industry chain. Its investment targets are mainly hydrogen energy transportation industry chain innovation projects outside China. Through the establishment of domestic and foreign dual-currency hydrogen energy funds, the entire hydrogen energy industry chain layout will be carried out at domestic and abroad. The overseas part of the fund mainly introduces advanced overseas technologies into China, and gather high-quality overseas resources to ensure that China's difficulties in the development of hydrogen energy transportation are solved; meanwhile the domestic part of the fund makes full use of China's advantages in the hydrogen energy transportation, supporting the imported technology implementation and the development of domestic high-quality projects. After yield capital joins the HyStation project, its industrialization layout will be more complete. In the future, yield capital will focus on promoting the development of HyStation business, providing it with comprehensive strategic management, expanding overseas market cooperation, and connecting it with the Chinese market.