Airrain Selected for KIND International Reduction Project Support Program
Airrain has been selected for the Feasibility Study Support Project for International Reduction Projects, organized by the Korea Overseas Infrastructure & Urban Development Corporation (KIND) under the Ministry of Land, Infrastructure and Transport.
According to Airrain on August 19, the Feasibility Study Support Project for International Reduction Projects provides support for feasibility study expenses for projects in the land and transport sector (buildings, transportation, construction, etc.) carried out by domestic companies that qualify as international greenhouse gas reduction projects. These are projects in which international reduction results can be secured and used to help achieve the Nationally Determined Contribution 3 (NDC3) greenhouse gas reduction targets.
The project for which Airrain is carrying out a feasibility study aims to utilize flare gas generated in oil fields in East Kalimantan, Indonesia, to produce clean hydrogen, which will then be used for fuel cell power generation. Airrain plans to employ its proprietary biogas concentration and refinement technology, together with carbon dioxide capture technology, to collect and concentrate flare gas at an economically viable level, before extracting hydrogen. The carbon dioxide generated during hydrogen extraction will also be captured, thereby securing results in carbon dioxide reduction and strengthening the effectiveness of the international reduction project.
The feasibility study is expected to be conducted over a period of approximately six to eight months. If the project is found to be commercially viable, Airrain plans to form a consortium and launch the main project in earnest.
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Ha Sungyong, CEO of Airrain, stated, "Our selection for this support project is a recognition by government authorities that our carbon dioxide capture and biogas concentration and refinement technologies can make a real contribution to greenhouse gas reduction. We will continue to expand our overseas carbon dioxide reduction projects in the future."
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