Bloom Energy and SK ecoplant Collaborate on a Major Hydrogen Project to be Developed by Korea Southern Power Co., Ltd

Bloom Energy (NYSE: BE) and SK ecoplant, an engineering and energy solutions provider and subsidiary of South Korean conglomerate SK Group, today announced a sale of Bloom’s electrolyzer technology to deploy hydrogen as an energy source in a large-scale green hydrogen demonstration with the Korea Southern Power Co., Ltd (KOSPO) and local government.

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Seong Jun Bae, VP, Energy Business, SK ecoplant, and Tim Schweikert, Head of Global Sales, Bloom Energy, shake hands on an agreement to deploy Bloom's solid oxide electrolyzer in the Jeju Island hydrogen demonstration. (Photo: Business Wire)

The first-of-its-kind demonstration for South Korea, which will commence in late 2025, includes 1.8 megawatts (MW) of Bloom’s industry-leading Solid Oxide Electrolyzer (SOEC) technology to develop green hydrogen at scale for use as transport fuel on Jeju Island, South Korea. Jeju Island is known as a leading market for renewable energy projects.

“The extension of our partnership with SK ecoplant to include this deployment of Bloom’s SOEC is a logical step to show the superior efficiency of our electrolyzers compared to other technologies in the important South Korean market,” said KR Sridhar, founder and chairman, CEO of Bloom Energy, Inc. “South Korea has been a leader in policies enabling clean hydrogen, and the efficiency and flexibility of Bloom’s SOEC will demonstrate our commitment to the lowest cost green hydrogen for South Korea.”

SK and Bloom have a strategic relationship on a number of projects in South Korea. For this project, SK and Bloom will combine the Bloom Electrolyzer with SK’s engineered infrastructure to produce hydrogen ready to be used as transport fuel.

“The results of this demonstration project will be crucial for SK to advance in the electrolysis market and pursue green hydrogen development projects domestically and internationally using Bloom's Solid Oxide Electrolyzer Cell (SOEC),” said Kyung-il Park, CEO of SK ecoplant. “This participation exemplifies a strategic collaboration between SK and Bloom, expanding the scope of cooperation from power generation (fuel cell) to global green hydrogen development projects, further strengthening the strategic partnership between the two companies."