Korea Gas Corporation Signs Memorandum of Understanding with Matrix Service Company to Support Development of Hydrogen Economy in South Korea

Korea Gas Corporation signs a Memorandum of Understanding with Matrix Service Company to support the development of the hydrogen economy in South Korea.

Matrix Service Company (Nasdaq: MTRX) announced that it has signed a Memorandum of Understanding (“MoU”) with Korea Gas Corporation (“KOGAS”) to support South Korea’s development of a hydrogen economy as is transforming from a natural gas supplier to a hydrogen platform operator.

The signing took place in Seoul in the presence of officials from both companies.

The MoU provides the framework for the development of new technology to support large-scale liquid hydrogen storage onshore to support South Korea’s plans to achieve carbon neutrality by 2050. he agreement also supports the development of solutions that will enable the transport of larger volumes of hydrogen by ship.

Hee Bong ChaeChairman and Chief Executive Officer of KOGAS, said:

Hydrogen is essential to achieving our nation’s net zero carbon goals, and KOGAS is pleased to play a leading role in creating a strong foundation for this.

“We are proactively pursuing the development of new technologies and infrastructure for hydrogen transport, storage and distribution to meet medium to long-term demands, and we look forward to working with Matrix Service Company to achieve this reality. .”

Matrix Service Company has a reputation for excellence in cryogenic storage tanks and terminals and, through its engineering division, enjoys a history that spans over 70 years.

John R. HewittPresident and CEO of Matrix Service Company, said:

As the world transitions to clean energy, KOGAS is taking a leadership role in becoming a hydrogen showcase company.

“We are honored to have been selected by KOGAS to help them develop the technology solutions needed to meet these land and sea transportation requirements.”

About Matrix Service Company

Matrix Service Company (Nasdaq: MTRX), through its subsidiaries, is one of North America’s leading industrial engineering, construction and maintenance contractors. South Korea.

The Company reports financial results in three key operating segments: Utilities and Power Infrastructure, Industrial Process and Facilities, and Storage and Terminal Solutions.

By focusing on sustainability, creating strong environmental, social and governance (ESG) practices and living our core values, Matrix is ​​ranked among the top contractors by Engineering-News Record, has been recognized for the diversification of its Board of Directors, is an active CEO Action for Diversity and Inclusion signatory, and is recognized as a Great Place to Work®.

Korea Gas Corporation signs Memorandum of Understanding with Matrix Service Company to support the development of the hydrogen economy in South Korea, TULSA, Okla., August 8, 2022

Veronica J. Snell