SEOUL, South Korea, Aug. 3, 2023 /PRNewswire/ -- Hanwha Aerospace today announced a strategic collaboration with Hanwha Ocean, a subsidiary of Hanwha Aerospace, to develop and enhance Energy Storage System (ESS) technology, aimed at reducing carbon emissions in the rapidly growing eco-friendly ship market.
This partnership highlights the synergy between Hanwha Aerospace and Hanwha Ocean, reflecting their shared commitment to environmental sustainability. It also aims to accelerate the development of a value chain by effectively capitalizing on their own cutting-edge technology.
Leveraging ESS Technology for Greater Fuel Efficiency and Lower Carbon Emissions
Hanwha Aerospace, in collaboration with Hanwha Ocean, has recently secured Megawatt-hour (MWh) class ESS technology that can be implemented in large vessels such as Liquid Natural Gas Carriers (LNGC) and container ships.
Hanwha's advanced ESS technology, using lithium-ion battery, features a 'container type packaging' that effectively reduces the overall size of the ESS by consolidating the control system. Additionally, it is equipped with an 'automatic fire extinguishing' feature for swift detection and suppression of any fires within the ESS.
Hanwha Ocean has conducted compatibility and safety tests on its own Land Based Test System (LBTS), Hanwha's cutting edge R&D facility, using the ESS developed by Hanwha Aerospace at the Shiheung R&D Campus.
The application of a hybrid power system to ships, which combines a conventional internal combustion engine with the ESS, offers significant improvements in fuel efficiency and reductions in pollutant emissions.
"The packaging and safety technology of ESS, essential for global decarbonization, is critical not only in the defense sector but also in the aviation and maritime industries," said Seunghak Moon, Head of E-Propulsion Business Group at Hanwha Aerospace. "We're taking a holistic approach to maximize synergy through collaboration among affiliates, consistently placing the environment at the focus of all our activities."
"The successful completion of this project is a result of big synergy effect created by industry leading expertise and experience from both companies," said Head of Hanwha Ocean R&D Institute, Joong-Kyoo Kang. "With this success, we will continue to deliver advanced eco-friendly and digital solutions to ship-owners with our cutting-edge technologies."
Building a value chain for sustainable mobility solutions
In light of the International Maritime Organization (IMO)'s greenhouse gas emission regulations, Hanwha Aerospace is poised to actively venture into the market for ships designed to minimize carbon emissions.
According to MarketsandMarkets Research, the global market for ship ESS is projected to grow annually by 15.5%, from approximately $2.1 billion in 2021 to around $7.6 billion by 2030.
Leveraging its experience and expertise in supplying ESS to public and small-to-medium-sized private vessels, Hanwha Aerospace is set to enter the market for innovative mobility power systems, with a focus on ships designed to lower carbon emissions.
Over the past 40 years, Hanwha Aerospace has been amassing capabilities to emerge as a leading company in future mobility technology, based on the technical prowess it has cultivated as a specialist in aerospace engine manufacturing. It is particularly focused on securing differentiated ESS core technology that can be applied to the Urban Air Mobility (UAM) initiatives led by its subsidiary, Hanwha Systems.
About Hanwha Aerospace
Hanwha Aerospace is a global aerospace and defense company that offers a broad portfolio of products and services in land combat vehicles, including the world-renowned K9 Self-Propelled Howitzer and the Redback Infantry Fighting Vehicle, weapons systems, munitions, aircraft engine parts, and technology products and services. As South Korea's largest aerospace and defense company, Hanwha Aerospace is engaged in the research, development, and manufacture of advanced technology systems, products, and services, and is spearheading the country's space projects. More information about Hanwha Aerospace is available at www.hanwhaaerospace.com.
About Hanwha Ocean
Hanwha Ocean has since grown into the world's premium shipbuilding and offshore contractor who is specialized inbuilding various vessels, offshore platforms, drilling rigs, FPSO/FPUs, submarines, and destroyers. Hanwha Ocean manufactures high-quality products based on its vast IT expertise, well-managed shipbuilding technologies, superb fixed-platform construction capacities, large-scale project management know-how, and submarine/destroyer construction technologies.
