POSCO, the world’s fifth-largest steelmaker by output, said it will produce up to 5 million tons of hydrogen by 2050 to reduce its reliance on fossil fuels and transition to renewable energy sources. POSCO has an annual hydrogen production capacity of 7,000 tons, mostly using natural gas and byproducts from its power plants, supplying hydrogen to its steel factories and fuel cell electric vehicles made by Hyundai Motor Co.
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