POSCO Energy Develops High-Efficiency Waste Heat Power Generation Technology with SMEs

POSCO Energy and Innowill Sign Joint Development MOU for Waste Heat Recovery Technology Demonstration with Pohang Institute of Industrial Science and Technology

Senior Researcher Kang Deokhong of RIST, Director of Business Development Park Youngsoo of POSCO Energy, and CEO Choi Youngjong of Innowill are taking a commemorative photo after the agreement ceremony on the 26th.

[Asia Economy Reporter Choi Dae-yeol] POSCO Energy signed a joint development agreement for waste heat power generation technology demonstration on the 26th with Inowill and the Pohang Institute of Industrial Science and Technology. Under this agreement, POSCO Energy will assist in the commercialization of technology that improves energy efficiency. Inowill will design the waste heat power generation system and manufacture heat exchanger equipment, while the institute will evaluate the demonstration facilities.

Waste heat power generation is a system that uses waste heat from manufacturing processes to heat external air, operate turbines, and generate electricity. Previously, steam was generated using water or low-boiling-point organic substances to drive turbines, but the system was complex and maintenance was difficult. The waste heat power generation being demonstrated this time heats air directly to drive the turbine, unlike in the past. The system configuration is simple, requiring less investment and easier maintenance.

POSCO Energy expects to secure carbon emission reduction technology utilizing waste heat power generation early through this demonstration. They plan to complete verification of the waste heat power generation technology and economic feasibility by February next year. Based on the verification results, the company stated that they will prioritize entering markets where waste heat power generation can be applied, such as steel mills.

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