LOTTE Chemical Begins Joint Research for Producing Clean Ammonia in the US

with German and Japanese Companies

■ LOTTE Chemical in Korea - RWE in Germany - Mitsubishi Corporation in Japan establishes global association on clean ammonia for producing large-scale clean ammonia and joint development of supply chains
■ Entered JSA (Joint Study Agreement) at LOTTE World Tower on the 7th… Joint research for production of 10 million tons of clean ammonia at Corpus Christ Port in Texas, USA
■ Hydrogen Energy Business Director Hwang Jin-goo, “It is expected that this cooperation will contribute in promoting the economy and contribute to carbon neutrality”... “We will maximize core capacities in production, distribution, utilization, technological development, etc. possessed by the company for the success of the project, and further strengthen the global network”

LOTTE Chemical established a global association for clean ammonia with the German energy company RWE and Mitsubishi Corporation of Japan and will cooperate to jointly develop a large-scale clean ammonia production and supply chain in Asia, Europe and the United States.

As the first step for this, LOTTE Chemical Hydrogen Energy Business Director (Basic Materials Business President) Hwang Jin-goo, Mitsubishi Corporation COO Hiroki Haba, and RWE Supply & Trading GmbH CCO Ulf Kerstin met at the Seoul Jamsil LOTTE World Tower in the afternoon of the 7th and signed a JSA (Joint Study Agreement).

Through this JSA, the three companies will utilize their respective strengths and cooperate in joint research for the clean ammonia (blue and green) production and export project at Corpus Christi Port in Texas, which has the largest energy export terminal in the US. This project will begin first production in 2030 and produce up to 10 million tons of clean ammonia in stages, aiming to export ammonia to Asia and Europe through joint shipping facilities.

LOTTE Chemical is pursuing the hydrogen business for supplying global clean energy and for carbon-reduced growth. It established plans to invest a total of 6 trillion KRW to produce 1.2 million tons of clean hydrogen by 2030, and distribute and use this to achieve annual sales of 5 trillion KRW. It plans to promote implementation of clean hydrogen/ammonia abroad through various investments and partnerships in preparation for increased domestic demand, and contribute in the building of a green circulating ecosystem focusing on low carbon growth and hydrogen based on core capacities such as large-scale customers, massive supply chain, and eco-friendly technologies.