APAC real asset manager ESR Group is teaming up with SK Plug Hyverse (SKPH) and Coupang Fulfilment Services (CFS) for the development and operations of South Korea’s first eco-friendly hydrogen-powered fulfilment centre.
ESR’s subsidiary Kendall Square Asset Management has signed a memorandum of understanding with SKPH and CFS to develop ESR’s existing 148,000sqm Mokcheon Logistics Park into a hydrogen-powered fulfilment centre.
Mokcheon Logistics Park, located in Chungcheong-do, is leased by CFS.
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.
“With the partnership, we can now work with SKPH and CFS and leverage their great knowledge of the renewable space and strong footing in Korea, one of our most important markets, to accelerate in transiting to clean energy.”
Jeffrey Shen and Stuart Gibson, co-founders and co-CEOs of ESR, said: “We are extremely excited to collaborate with our partners to pilot this hydrogen-powered fulfilment centre. Aligned with ESR’s ESG 2025 Roadmap, our ambition is to maximise the renewable power generation at our properties in all operating markets and pursue potential business initiatives which focus on green energy.
”In addition, we have stayed ahead of the curve by integrating sustainability features and low-carbon innovations into our best-in-class facilities to mitigate environmental impacts. Our partnership with SKPH and CFS demonstrates our commitment in deploying and actualising the environmental value of renewable energy resources to achieve sustainable and efficient operations not only in our premises but also along our value chain.”
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