Michael Sicker (left), head of Hanwha Power’s U.S. operations, and David Bressler, vice president of international, innovation and enterprise at the University of Alberta, attend an MOU signing ceremony in Canada on Oct. 22. Photo courtesy of Hanwha Power
Hanwha Power signed a memorandum of understanding (MOU) with the University of Alberta in Canada on Wednesday for joint research and development in clean energy, the company said Sunday.
The agreement centers on joint R&D in next-generation clean power technologies held by Hanwha Power, including waste heat recovery power systems, turbo expander generators (TEG), and carbon capture, utilization and storage (CCUS). The partnership was pursued as part of an Industrial and Technological Benefits (ITB) program linked to Hanwha Ocean’s (042660.KS) bid for the Canadian Patrol Submarine Project (CPSP).
The CPSP is a project worth up to 60 trillion won to introduce as many as 12 diesel submarines to replace four Victoria-class submarines scheduled for retirement in the mid-2030s. A consortium of Korea’s Hanwha Ocean and HD Hyundai Heavy Industries is in the final round of competition against Germany’s ThyssenKrupp Marine Systems.
Hanwha Power provides integrated energy solutions spanning the entire power industry, from equipment manufacturing to operations and services, based on expertise accumulated in high-performance gas turbines and compressors. The University of Alberta is a research institution with world-class competitiveness in energy innovation.
Through this cooperation, Hanwha Power plans to advance energy recycling technologies such as waste heat recovery power generation, which converts gas turbine waste heat into electricity, and TEG technology, which converts pressure energy into electrical energy, while reviewing their applicability to the North American market. Beyond R&D, the company will also conduct feasibility studies, business structure analyses and economic evaluations by industry sector for the application of these technologies.
“We are pleased to work with the University of Alberta, the mecca of the energy industry,” said Michael Sicker, head of Hanwha Power’s Americas operations. “This cooperation will provide students with the opportunity to grow into future energy experts, and for Hanwha Power, an opportunity to verify and advance our technological capabilities.”
David Bressler, Vice-President (External Relations) at the University of Alberta, said, “We will leverage the expertise of both sides to pursue joint R&D in sustainable low-carbon energy infrastructure. It will also serve as a valuable foundation for students to apply basic research to actual industrial sites.”
Earlier, Hanwha Power signed an MOU with Canadian energy infrastructure company Pembina Pipeline on Friday for clean power generation projects, accelerating Hanwha Group’s efforts to build a clean energy ecosystem in Canada.