South Korean steelmaker Posco and local gas containment equipment manufacturer Energyn have localized the production of hydrogen storage tanks, according to Posco on Sunday.

Hydrogen storage tanks are used to store highly compressed, gaseous hydrogen in electric vehicle charging stations.

Currently, US-based global provider of gas containment equipment FIBA Technologies dominates Korea's hydrogen storage tank market.

However, Energyn, a Korean producer of various modules for hydrogen charging stations, recently said it had completed capacity to produce hydrogen storage tanks using Posco's steel.

According to Energyn, the company had been in dire need of steel strong enough to store highly compressed hydrogen, as compressed hydrogen is prone to explosions.

"We reviewed Italian (steel) because there were no steel companies that produce the needed (steel) in Korea -- but we found that it took a year (to import the Italian steel) and that the logistics costs were too high," said Hwang In-ki, vice president of Energyn.

"We succeeded in localizing hydrogen storage tanks thanks to Posco's offer to develop and supply materials with Greenable H2," he added.

Greenable H2 is a brand launched by Posco in October that specializes in production of steel suitable for the transportation, storage and utilization of hydrogen.

Using Posco steel, Energyn said the company was able to make a hydrogen storage tank that could withstand pressure of 100 megapascals and store 1,000 liters of hydrogen.

"This tank can store 1,000 liters of hydrogen, which is twice as much as existing FIBA Technology products. One tank can charge about 10 fuel cell electric vehicles, and they can stack up, allowing for larger use of space (at charging stations)," said an official from Energyn.

According to the company, the product was certified by the American Society of Mechanical Engineers and Korea Gas Safety Corp. for its safety and efficacy.

"The materials supplied to energy are expensive and difficult to produce, but we are trying to increase the application of domestic steel, in cooperation with midsized and small companies, to strengthen the competitiveness of the (Korean) hydrogen industry," said an official from Posco.