In order to develop fuel cells for ships and power generation and secure eco-friendly hydrogen production technology, Korea Shipbuilding & Maritime, the shipbuilding and offshore intermediate holding company of HD Hyundai, is collaborating with Europe’s largest research institute and fuel cell component manufacturer.
Korea Shipbuilding & Maritime said on the 9th that it had inked a contract to “develop solid oxide fuel cells and water electrolysis systems” at CES 2023 in Las Vegas, USA, with Fraunhofer in Germany and Elkozen in Estonia.
According to the agreement, Korea Shipbuilding & Maritime, Fraunhofer, and Elkozen will start prototyping large-capacity solid fuel cell systems for use in ships and energy production. Since February of last year, Korea Shipbuilding & Marine and Fraunhofer have been developing the fundamental design of the fuel cell system. Additionally, by employing the water electrolysis technology from Fraunhofer and the core component manufacturing capabilities of Elkozen, Korea Shipbuilding & Marine will secure technologies to manufacture eco-friendly hydrogen.
With 72 facilities spread across Germany, Fraunhofer is the largest applied research and development organization in Europe. It conducts high-performance ceramic application technology research and possesses cutting-edge expertise in water electrolysis and solid oxide fuel cells. Elkogen is a tiny business that was established in 2001 and produces cells, which are the essential elements of solid oxide fuel cells, and stacks, which are collections of cells.
A solid oxide fuel cell is a device that generates electricity by combining hydrogen and oxygen with different fuels, such as natural gas, ammonia, methanol, and biofuels. It is useful for marine engines and cogeneration because it has a high power generation efficiency and can recycle waste heat produced by high-temperature (600–1000 degrees) operation. It is regarded as the most cutting-edge technology available right now among the numerous fuel cell varieties.
The solid oxide fuel cell market, which has a value of $460 million this year, is anticipated to increase at a CAGR of 40.7% to reach roughly $7.12 billion by 2030, according to German consulting firm Roland Berger.
