ESR is planning to convert a Korean logistics centre to hydrogen-powered operation.

The Asia Pacific investment manager announced that its Korean logistics subsidiary, Kendall Square Asset Management, has signed a memorandum of understanding with SK Plug Hyverse and Coupang Fulfilment Services for the development and operations of South Korea’s first hydrogen powered fulfilment centre.

SKPH is a Korean/US hydrogen joint venture, while Coupang is the subsidiary of one of Korea’s largest e-commerce platforms. They will join forces with ESR to add hydrogen infrastructure to ESR’s existing Mokcheon Logistics Park.

Mokcheon Logistics Park is a 148,000 sq m modern logistics property leased to Coupang and located in Chungcheong province. Liquefied hydrogen storage infrastructure and charging stations will be installed at the property and forklifts will be converted to hydrogen fuel cells. 

Thomas Nam, CEO of ESR Kendall Square, said: “We are pleased to announce this MOU as it will enable our tenants to access hydrogen, one of the leading options for storing renewable energy, which is in line with Korea’s ambitious plans to become a global leader in the development of hydrogen projects.”

The initiative could be rolled out to other ESR logistics facilities in Korea.