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Korean chemical company announces plans to commercialize hydrogen fuel cells

• LG Chem, Ltd., the nation's largest chemical company, announced yesterday that it will begin commercializing its new portable fuel cells late this year.
• The company has recently hastened the development of the energy device to take the lead in the new environment in which power consuming electronic devices such as laptops and cell phones abound.
• "Once the global codes and standards for portable fuel cells are set up by the end of this year, the company will soon begin commercializing them to meet the growing demands from electronic equipment such as laptops, cell phones, and portable electronic devices for the military," said Yeo Jong-kee, president and chief technology officer of LG Chem.
• Unlike batteries, fuel cells, without recharging, can continuously produce electricity by transforming chemical energy - such as hydrogen and methanol - into electric energy given that fuel is constantly supplied.
• LG Chem's newly developed fuel cell system employs methanol fuel to power the cells and produces 25W of power, the world's largest power output among its kind, lasting for more than 4,000 hours, 8 times longer than any other system.
• Its new portable fuel cells are a micro miniaturized product easy to carry, weighing less than 1 kg, and supplies electricity to power electronic devices durably by exchanging cartridges containing methanol fuel.
• LG Chem plans to further develop various fuel cells to take advantage of hikes in power demand for electronic devices such as laptops and cell phones.
• "Developing a fuel cell which has a long durability and reliability is a great opportunity for LG Chem to outpace its competitors and gain a strong presence in the global market," said Yeo.
• The market is expected to accelerate the expansion, up to $1.9 billion, with a high annual growth rate of 28.3 percent by 2010.

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