South Korean shipbuilder Samsung Heavy Industries joined hands with shipping company Hyundai Merchant Marine, ship verification service provider Korean Register of Shipping, and energy system specialist Panasia on Friday.
Under the new agreement, Hyundai Merchant Marine will be incharge of operations while Samsung Heavy Industries will led commercialisation. The four companies plan to study and develop carbon capture and storage technology.
Samsung Heavy Industries is the ship-building subsidiary of Samsung. It’s going to create a joint working group to incorporate observation based research.
The goal of the research is to verify carbon dioxide capture and its melting. To gather operational management knowledge and gain actual operation data.
Hyundai Merchant Marine will combine carbon capture and storage technology with local technology. The currently in-operation twenty-foot container is going to be used for research this year.
Hyundai Merchant Marine will look after the operation. Samsung Heavy Industries and Panasia are heads of designing, manufacturing, as well as installing.
On the other hand, risk assessment falls into the Korean Register of Shipping’s hand. It is a non-profit body that verifies and provides certifications associated with ships.
It is decided that all the carbon dioxide waste will be given to smart farms and dry ice producers. Futhermore, Samsung Heavy Industries and Panasia will focus on the commercialization process. They plan to make ship carbon capture and storage technology accessible.
Hyundai Merchant Marine indeed intends to use it for gaining efficiency in keeping up with regulations related to harmful gasses.
Carbon capture technologies
The popularity of carbon capture and storage technology is catching on as per Samsung Heavy Industries. It is widely known because of its lesser harm to the environment.
Carbon capture and storage technology fulfil energy requirements. The captured carbon dioxide is useful in building durable and long-lasting structures.
Moreover, instalment of carbon capture and storage creates more jobs in the market. Since it’s a technology that demands workers with specialised knowledge.
South Korea had released its green growth plan in the past. This plan includes improvement in river waters, income, and development of technologies.
Korea Carbon Capture 2020 Project was started to develop and secure original carbon capture technology
The ship and marine industry can consequently benefit majorly from the carbon capture technology‘s development and expansion.
Although such technology is rather expensive and not budget-friendly. The expansion and development of carbon capture and storage technology still continues to happen.