LNG+Hydrogen Mixed Power Generation... Hanwha Secures First Domestic Technology

[Asia Economy Reporter Choi Dae-yeol] Hanwha General Chemical announced on the 22nd that it has acquired gas turbine service companies possessing hydrogen co-firing power generation technology. This technology burns hydrogen and natural gas together in a gas turbine to generate electricity, resulting in lower carbon dioxide emissions. This is the first time that hydrogen co-firing technology commercialized in Korea has been acquired.

The companies acquired by Hanwha General Chemical are the U.S.-based PSM (Power Systems Mfg., LLC) and the Netherlands-based ATH (Ansaldo Thomassen B.V.). Both companies are subsidiaries of Ansaldo Energia, a global gas turbine company headquartered in Italy.

Hanwha stated that the acquired companies possess world-class gas turbine life and performance enhancement technologies as well as hydrogen co-firing retrofit technologies. The acquisition contract was signed on the 19th, and the acquisition process is expected to be completed by June after review by the U.S. Committee on Foreign Investment.

Although hydrogen co-firing technology has been developed domestically, it has not yet reached a stage where it can be applied industrially. The two companies acquired by Hanwha have commercialized this technology in the U.S. and Europe. Hanwha secured 100% equity and all intellectual property rights, expecting to immediately utilize the technology for business.

According to the company, compared to existing liquefied natural gas (LNG) power generation, carbon dioxide emissions are reduced by more than 30%. There is also the advantage of being able to retrofit old gas turbines at existing LNG power plants at a low cost. Existing fuel cell methods require over 99.9% high-purity hydrogen, which inevitably leads to high costs, but the acquired technology can use low-purity hydrogen, making it cost-effective.

Park Heung-kwon, CEO of Hanwha General Chemical, said, "We have secured gas turbine technology that was previously dependent on imports, along with technology that can drastically reduce carbon and nitrogen oxide emissions." He added, "With this acquisition, we will expand performance improvement projects such as extending gas turbine lifespan and applying hydrogen co-firing technology in domestic and international markets."

This content was produced with the assistance of AI translation services.