Joint News Release
BASF New Business and G-Philos sign MoU for cooperation in power-to-gas (P2G) business
Yongin, South Korea, and Ludwigshafen, Germany, September 10, 2020 – BASF New Business GmbH (BNB), a wholly owned subsidiary of the German chemical company BASF SE, and the leading Korean P2G system company G-Philos have signed a memorandum of understanding (MoU) to cooperate in P2G projects globally. Up to 2022, BNB will supply NAS® batteries that can provide a total of 19.2 MWh of energy to G-Philos for P2G projects. BNB will support G-Philos in further P2G projects and in the development of business with Power Conversion Systems (PCS) for NAS® batteries in South Korea as well as in the global market. Through the collaboration, the two companies expect synergy effects in the field of P2G systems for green hydrogen production.