Ulsan, South Korea – Korean East-West Power (EWP) and HD Hyundai Heavy Industries (HHIH) have signed a memorandum of understanding (MOU) to collaborate on the development of carbon-free distributed energy technologies. The agreement aims to leverage the expertise of both companies to gain a leading position in the future distributed energy market.
Under the MOU, EWP and HHIH will focus on developing technologies for carbon-free fuel engines, including hydrogen and ammonia, as well as clean hydrogen production technologies for carbon-free fuel power generation. The two companies will also work together to create a foundation and ecosystem for clean hydrogen production and utilization technologies.
In particular, the companies plan to develop new engines that can utilize clean hydrogen and ammonia for flexible power generation. This will enable them to develop business models that can respond to the government's clean hydrogen power generation bidding market and the Distributed Energy Special Act. They will also jointly promote the decarbonization of emergency generators in existing thermal power plants.
"We expect to successfully lead innovative projects such as the development of carbon-free energy technologies and the establishment of a distributed power generation business model using MW-class engines by combining the technologies and know-how of both companies," said Han Joo-seok, head of HHIH's business division.
"At this point, rapid response from both companies representing the power generation and shipbuilding industries is necessary to achieve the national greenhouse gas reduction targets," said Kwon Myung-ho, president of EWP. "Through this MOU, we will derive a clean distributed energy business model that can respond to national policies such as carbon neutrality and distributed energy revitalization."
The collaboration between EWP and HHIH is expected to contribute to the development of carbon-free distributed energy technologies and the revitalization of the distributed energy market in South Korea.
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