Korea Shipbuilding & Offshore Engineering to begin developing hydrogen fuel cells for ships

In South Korea, Korea Shipbuilding & Offshore Engineering (KSOE), the intermediate holding company of HD Hyundai, will embark on a mission to develop fuel cell systems for ships and power generation and acquire technologies for green hydrogen production, in collaboration with Europe’s largest research institute and a fuel cell stack manufacturer. KSOE announced on January 9 that it has signed a memorandum of understanding (MOU) with Fraunhofer IKTS, a subsidiary of Germany’s Fraunhofer, and the Finnish subsidiary of Elcogen of Estonia to develop solid oxide fuel cells (SOFC) and water electrolysis systems. The MOU was signed at the recently-held CES 2023 in Las Vegas.