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[Apha Biz=(Chicago) Reporter Paul Lee] HD Korea Shipbuilding & Marine Engineering signed an investment contract with Elcogen, a fuel cell company, at Seoul Square on November 11.
The total investment is 45 million euros (about 64 billion won).
HD Korea Shipbuilding & Marine Engineering plans to upgrade its large-capacity solid oxide fuel cell (SOFC) system with this investment. Through this system, we will develop a land power generation and ship power generation promotion system and use water electrolysis technology to produce green hydrogen. The two companies will also consider establishing a joint venture to produce fuel cells in South Korea.
SOFC is the next generation of green energy sources. Unlike conventional fuel cells, electrical energy can be generated from natural gas, ammonia, methanol, and biofuels in addition to hydrogen. It is suitable for ship engines and cogeneration as it is energy-efficient and can use waste heat generated from high-temperature operations (600 to 1,000℃). Elcogen is a global powerhouse that manufactures cells and stacks, the core components of SOFC. It was established in 2001 in Northern Europe, Estonia.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
