The Investor reported that South Korean steelmaker POSCO and local gas containment equipment manufacturer Energyn have localized the production of hydrogen storage tanks, which are used to store highly compressed, gaseous hydrogen in electric vehicle charging stations. Using Posco steel, Energyn is able to make a hydrogen storage tank that could withstand pressure of 100 megapascals and store 1,000 liters of hydrogen. 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. Energyn Vice President Mr Hwang In-ki said “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. We succeeded in localizing hydrogen storage tanks thanks to Posco's offer to develop and supply materials with Greenable H2.” According to the company, the product is certified by the American Society of Mechanical Engineers and Korea Gas Safety Corp for its safety and efficacy. 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. US based global provider of gas containment equipment FIBA Technologies dominates Korea's hydrogen storage tank market.