Vietnam hopes to promote energy transition from green hydrogen

October 29, 2023 | 15:00

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The green hydrogen ecosystem based on renewable energy is expected to contribute $40-$45 billion to Vietnam's GDP each year, according to the National Green Hydrogen Summit on October 28.

The was part of the Vietnam International Innovation Exhibition (VIIE 2023) and the Inauguration Ceremony of the National Innovation Center (NIC), to evaluate the importance of green hydrogen in the global trends in the energy sector.

Nguyen Chi Dung, Minister of Planning and Investment, said that green hydrogen was emerging as an outstanding solution in the process of pursuing a "green future" globally and is also a factor in accelerating the energy transition process in Vietnam.

Masan High-Tech Materials' booth at Vietnam International Innovation Exhibition

According to the National Strategy for Green Growth 2021-2030, the green economy can contribute $300 billion to Vietnam's GDP by 2050. In which the clean hydrogen ecosystem is based on energy. Renewable energy has the potential to contribute $40-45 billion to annual GDP, creating about 50,000 jobs for the domestic market.

“Green hydrogen also possesses great potential for export to developed countries. This is also a solution to support countries in enhancing the value of renewable energy and applying it to production and business industries," said Minister Dung.

According to data the Ministry of Industry and Trade, more than 40 countries have issued national hydrogen strategies and large financial support policies to form and develop the hydrogen industry.

Along with recommendations on appropriate policies and mechanisms to build infrastructure and value chains related to hydrogen, experts at the forum assessed one of the important factors in determining the success of the green production transformation process based on supporting materials.

Develop products for green energy

As one of 300 businesses participating in VIIE 2023, Masan High-Tech Materials introduced products serving green energy technology, including tungsten powder and nyobolt.

Masan High-Tech Materials is a high-tech material manufacturer possessing modern production technology, strict management processes, and compliance with environmental protection regulations. In 2022, Masan High-Tech Materials invested in nyobolt to develop a battery line applying tungsten high-tech materials with fast charging speed, outstanding safety, and 10-times the capacity of conventional batteries to align with the global trend of using clean fuels.

Nyobolt launched an electric car that can be fully charged in less than six minutes, setting a record charging speed and promising to revolutionise the electric vehicle industry.

Masan High-Tech Materials is also an exemplary enterprise in implementing carbon neutrality initiatives, promoting a circular economy and saving energy

In early 2023, Masan High-Tech Materials launched a globally patented tungsten powder brand “starck2charge” used in the production of fast-charging and safe Li-ion batteries. This product is expected to address new energy challenges and create a clean energy ecosystem, particularly playing a significant role in the electric vehicle industry.

Furthermore, Masan High-Tech Materials continues to introduce tungsten powder blends for industries utilising 3D printing technology, ensuring high stability and purity, especially suitable for the medical field. These products represent Masan High-Tech Materials' commitment to providing innovative solutions that meet the needs of advanced technology companies and global industries.

Through research projects and laboratory and pilot plant experiments, Masan High-Tech Materials has developed and perfected a recycling process, allowing the recovery of lithium, tungsten, nickel, copper, cobalt, and manganese from waste battery products.

Additionally, specific refining formulations have been developed to achieve higher recovery efficiency while utilising less energy and water to extract the minerals.

These technological achievements have enabled Masan High-Tech Materials to no longer depend solely on primary supply in mineral exploitation. Instead, the company promotes a circular business model through urban waste mining, waste collection, production, and scrap recycling. End-of-life assets now serve as sources of raw materials for the creation of new materials and products.

Currently, the company is actively working on building Asia's first and largest tungsten recycling plant in the northern province of Thai Nguyen, with the goal of making Vietnam a leading recycling hub for tungsten and precious metals in the region.

Craig Bradshaw, chief executive officer of Masan High-Tech Materials said, "Masan High-Tech Materials identifies innovation and sustainable green production as the focus of its development strategy, integral to its global strategy. The success of Masan High-Tech Materials' innovation is attributed to the combination of a world-class R&D platform and a team of dedicated, specialised application engineers with the ability to develop products that meet the rigorous technical requirements and changing needs of customers."

As of 2023, Masan High-Tech Materials holds nearly 100 new patents worldwide, with an additional 50 in the application stage and an extensive customer network, serving more than 300 customers in 30 different countries.

Masan High-Tech Materials high-tech products have reached the global market. Specifically, 45 per cent of the company's products are sold in Europe, 22 per cent in North America, 18 per cent are manufactured in China and sold in the Chinese market, and 15 per cent are sold in the rest of the world.

Masan High-Tech Materials is the world's leading manufacturer of high-tech tungsten, with production complexes in Vietnam, Germany, Canada and China and R&D centres in Germany and Vietnam.