Hyundai Heavy Industries Power Systems (HPS), together with HD Korea Shipbuilding & Offshore Engineering (KSOE) and CE-TEK has signed a joint development program agreement for the research and development of Onboard CCS demonstration units.
The Onboard CCS demonstration unit is scheduled to undergo commissioning and performance testing in the first half of 2025. Installation will take place at the Hyundai Heavy Industries Carbon Neutrality Demonstration Center site in Ulsan.
CE-TEK is tasked with developing the most optimal solvent for Onboard CCS, utilizing its proven solvent technology, which has demonstrated outstanding performance in capturing CO₂ from exhaust gases with low CO₂ concentration level, reducing the regeneration energy by 30% compared to conventional solvents.
HPS plays a key engineering role in developing a highly efficient and reliable carbon capturing system for this project. Leveraging its experience in offshore and onshore CCUS projects, it aims to expand its solutions in the carbon capture field.
KSOE, leading the project, will integrate its proprietary technologies related to heat, fuel gas handling and ship operating mechanisms for the most reliable and energy efficient OCCS with smaller foot-print.
Commercial OCCS units are expected to be deployed in the near future for versatile ship types using fossil fuel, providing a competitive decarbonization option, especially for LNG-fueled ships.
The International Maritime Organization (IMO) has announced greenhouse gas reduction targets for the maritime industry: 30% reduction by 2030 compared to 2008 levels, 80% reduction by 2040, and full decarbonization by 2050.
Additionally, the International Energy Agency (IEA) stated in its 2020 report that “Reaching net zero will be virtually impossible without CCUS.” Major countries are ramping up investments to advance CCS technology, indicating rapid growth in the CCS industry.