HD Korea Shipbuilding to invest 15 mln euros in Europe

Major South Korean shipyard HD Korea Shipbuilding and Offshore Engineering Co. said Friday it will expand its research and development (RandD) spending in Europe to secure future shipbuilding and maritime technologies.

To that end, HD Korea Shipbuilding will spend 15 million euros (US$16.5 million) on its European research institute in Dusseldorf, Germany, and other RandD projects, including one for onboard carbon dioxide (CO2) capture and storage (OCCS), over the next five years.

HD Korea Shipbuilding said its European research institute has recently kicked off a project with Britain's Edinburgh University, which is aimed at advancing the OCCS technology.

The shipyard said it is targeting to apply an OCCS technology developed by Edinburgh University to its vessels by 2024.

An OCCS system allows the capture and storage of CO2 on board before releasing it safely after making a port call, and helps reduce greenhouse gas emissions.

As part of its global RandD push, HD Korea Shipbuilding opened the predecessor of its current European research center in April last year, which has been working with Germany's RWTH Aachen University on next-generation vessel propulsion technologies.

"The European research center will make active use of its local partnerships to take the lead in securing green and digital technologies," a company official said.

HD Korea Shipbuilding has been expanding cooperation with foreign institutes on hydrogen study, including a project with Norway's Foundation for Scientific and Industrial Research to develop a very large hydrogen carrier.

HD Korea Shipbuilding, a subholding company of shipbuilding, oil refining and machinery conglomerate HD Hyundai, has three units under its wing -- Hyundai Heavy Industries Co., Hyundai Mipo Dockyard Co. and Hyundai Samho Heavy Industries Co.

Source: Yonhap News Agency

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