South Korean boiler specialist Hyundai Heavy Industries Power Systems (HPS), shipbuilder HD Korea Shipbuilding & Offshore Engineering (HD KSOE), CO2 capture technology firm CE-TEK and classification society DNV have signed a joint development program agreement for the research and development of onboard carbon capture and storage (CCS) demonstration on 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, a company established in 2020 to commercialize CO2 capture technology, is tasked with developing the most optimal solvent for onboard CCS. The company will use its solvent technology which has demonstrated good performance in capturing CO₂ from exhaust gases with low CO₂ concentration level, reducing the regeneration energy to 30% compared to conventional solvents.
HPS plays a key engineering role in developing a highly efficient 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 energy-efficient OCCS with a smaller footprint.
As informed, 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.