HD Korea Shipbuilding, the leading shipbuilder in South Korea, has made a major investment in green technology by acquiring the Finnish company Convion for $81 million. Convion is known for its expertise in solid oxide fuel cell (SOFC) systems, a technology that has the potential to revolutionize energy production in the maritime industry by offering a cleaner and more efficient alternative to traditional combustion engines.
This acquisition is part of the Group’s broader strategy to reduce the environmental impact of its operations and lead the industry in adopting sustainable technologies. Solid oxide fuel cells generate electricity through the electrochemical reaction of a fuel, typically hydrogen or natural gas, without the harmful emissions associated with conventional engines. This process not only reduces pollution but also increases energy efficiency, making it an attractive option for future maritime applications.
The acquisition of Convion follows a similar move by HD Korea Shipbuilding last year when it purchased Elcogen, an Estonian company also specializing in fuel cell technology, for $50 million. These investments underscore the company’s commitment to advancing fuel cell technology and integrating it into their ship designs, aiming to meet the growing demand for environmentally friendly ships.
The shift towards green technologies is not limited to HD Korea Shipbuilding. Other major players in the South Korean shipbuilding industry, such as Samsung Heavy Industries and Hanwha Ocean, are also exploring the use of fuel cells in their vessels. These companies are in advanced stages of developing and testing fuel cell systems, recognizing the importance of sustainable solutions in maintaining their competitive edge in the global market.
The company’s strategic acquisitions and focus on fuel cell technology reflect a broader industry trend towards sustainability. As regulations tighten and the demand for eco-friendly ships increases, the company is positioning itself as a leader in the development and deployment of green technologies in the maritime sector.
