REDEFINE GREEN
GROWTH THROUGH
GREEN CHEMISTRY

Economic growth and technological advances have brought mankind many benefits as byproducts, chiefly, the climate crisis. Limiting global warming to 1.5 °C would require rapid, far-reaching and unprecedented changes1), and we are living in an era where we should act to avoid a climate catastrophe.

Now, LFC seeks to share the benefits it has secured with the global community. For which, we will focus more on the “green ammonia” business to help safely store and efficiently transport hydrogen, a crucial step to realizing the hydrogen economy. With green materials, we will facilitate eco-friendly value conscious consumption. In particular, AnyAddyⓇ is an additive in meat substitutes which are gaining attraction as a sustainable food, with great potential to contribute to reducing carbon emissions and resolving the food crisis. LFC will lead the creative innovation in which both mankind and nature can be winners in the face of the climate crisis with GREEN CHEMISTRY.

1) Source: Global Warming of 1.5°C (IPCC Special Report 2018)
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ENVIRONMENTAL VALUE CREATION STORY
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HYDROGEN SOCIETY
POWERED BY INFINITE CLEAN ENERGY

We are taking the lead in producing and distributing green ammonia to be used for transporting hydrogen in the hydrogen energy ecosystem, thereby accelerating to the transition to the hydrogen society.

The hydrogen economy refers to an economic and industrial structure that uses hydrogen as its main energy source. In other words, it is an economic system that mainly utilizes hydrogen as an alternative to the fossil fuel-centered energy system. As the cost of producing, storing and transporting the clean energy of infinite supply is unrealistically high, new industries and markets will be created to capitalize on economic opportunities such technical challenges entail. The Hydrogen Council, a global consultative body of CEOs of corporations related to the hydrogen economy, anticipates that global hydrogen consumption will reach 546 million tons in 2050, an amount equivalent to 13.26 billion barrels of oil in energy generation, or about 20% of global demand for energy. An economy powered by infinite clean energy hydrogen is becoming a reality.
Being aware that hydrogen is the energy source crucial to reaching carbon neutrality, LOTTE Group has been securing hydrogen competitiveness, spearheaded by LOTTE Group’s Chemical Unit, to which LFC is affiliated. In the hydrogen ecosystem, composed largely of production, distribution, storage and utilization, LFC is engaged in distribution and storage. Hydrogen is bulky and explosive so that long-distance transportation poses considerable technical and business challenges. As the idea of storing hydrogen in ammonia is gaining traction as a viable solution, LFC seeks to secure a new growth engine based on the know-how and competitiveness as well as the solid infrastructure it has built up across all ammonia industry value chains and, taking a step further, to contribute to the realization of the hydrogen economy.
Green Ammonia Marine Transportation and Bunkering Consortium
As part of its efforts, LFC joined forces with five large domestic partners and institutions1) to launch “Green Ammonia2) Marine Transportation and Bunkering Consortium” in May 2021. In November, LFC and Korea Shipbuilding & Marine Engineering acquired an approval in principle (AIP) on two models of ammonia-powered carriers, 38,000 CMB and 60,000 CBM, from the Korean Register of Shipping. Developed as an eco-friendly means of transportation for it uses carbon emissions-free green ammonia as a fuel, the two ships will be used for ammonia transportation and bunkering. LFC will keep strengthening the consortium partnership and speed up its voyage towards the blue ocean of green ammonia.
1) LOTTE Global Logistics, POSCO, Korea Shipbuilding & Marine Engineering, Korean Register of Shipping, Hyundai Merchant Marine
2) Ammonia produced using renewable energy-based hydrogen without CO2 emissions
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Green Ammonia – A New Driving Force of Green Growth