The Sylvan Group to Invest $300M with SK Innovation in South Korea's Hydrogen Mobility Platform
The Sylvan Group will invest approximately $300 million alongside SK Innovation to develop a hydrogen mobility platform in South Korea, focusing on the establishment of 29 liquefied hydrogen refuelling hubs by 2029. These hubs will support over 6,000 hydrogen-powered buses and will be strategically located near major bus depots to optimize demand and utilization. The investment is set to be released in stages, with South Korea as the initial market and potential future expansions into other Asian regions.
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The Sylvan Group, based in Singapore and backed by Hyundai Family members, will invest approximately $300 million with SK Innovation to develop a hydrogen mobility platform in South Korea. The investment will be funneled through SK Hyverse, which plans to deploy 29 liquefied hydrogen refuelling hubs nationwide, supporting over 6,000 hydrogen-powered buses by 2029.
These hubs will be strategically located near major bus operator depots to enhance demand and fleet utilization. The investment will be released in stages as the network expands. South Korea will be the initial market for this platform, with potential future expansions into other Asian markets. SK Innovation will leverage its expertise across the hydrogen value chain, ensuring a stable hydrogen supply for the bus network through long-term sourcing from its Incheon production facilities.
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