Hyundai Glovis, the logistics arm of Hyundai Motor Group, is joining hands with Air Products & Chemicals, a US-based industrial gas manufacturer, to speed up the development of a liquefied hydrogen supply chain, the company said Tuesday.

Hyundai Glovis CEO Kim Jung-hoon signed the supply chain agreement during a videoconference with Air Products & Chemicals Asia President Wilbur Mok as well as Korea unit CEO Kim Kyo-young.

“We expect a great synergy from the partnership, as Glovis has a lot of experience in global gas transportation, and Air Products is experienced in gas manufacturing and sales technology,” the Hyundai Glovis chief said.

“We plan to concentrate and discuss on developing liquefied and clean hydrogen supply chain.”

Air Products & Chemicals, headquartered in Pennsylvania, is the world’s largest hydrogen producer and is participating in more than 250 “hydrogen refueling station” projects in 20 countries.

In the 2020 fiscal year, Air Products & Chemicals recorded sales of $8.9 billion.

The company’s activities in the hydrogen business logistics chain encompass production, liquefaction, storage, and charging and fueling systems.

Under their agreement, the two sides will consider various joint projects to build a supply chain for liquid hydrogen and establish a blue and green hydrogen supply network for ocean shipping.

Hyundai Glovis plans to secure stable liquid hydrogen supply sources to enhance its competitiveness in the domestic hydrogen distribution segment. Air Products plans to review investment and operation plans for liquid hydrogen plants.

Hyundai Glovis said it will also introduce clean hydrogen and green ammonia, using its shipping capabilities, and work with Air Products to use its original technologies, such as ammonia decomposition technology, to cooperate on building a green ammonia-based hydrogen supply chain.