KSOE investment deepens SOFC focus

HD Hyundai’s investment follows an extensive period of testing the full range of technology available in the market, following which an R&D collaboration agreement was signed with Elcogen in January 2023, which was focused on further testing of Elcogen’s technology and development of systems.

HD Hyundai and Elcogen intend to further strengthen their collaboration with a focus on marine propulsion systems and stationary power generation based on Elcogen’s proprietary SOFC and green hydrogen production-based solid oxide electrolyser cell (SOEC) technology. 

This investment will be used to expand Elcogen’s manufacturing capacity as it continues to build the Company’s new factory facility in Tallinn, Estonia, with a manufacturing capacity of up to 360MW to meet increasing demand for its products. KSOE and Elcogen also intend to work together to manufacture systems in South Korea, and further strengthen the companies collaboration in SOFC and SOEC technology.

The investment forms part of HD Hyundai’s “Ocean Transformation” strategy, which it announced in January 2023. Kisun Chung, CEO of HD Hyundai and HD KSOE, described four key visions, one of which was Ocean Mobility targeting next-generation digital ships that are eco friendly as an answer to ocean sustainability. This part of HD Hyundai’s vision is led by KSOE.

Technology capable of NH3-fuelled operation

HD Hyundai specified that Elcogen’s SOFC and SOEC technology is fuel-flexible, and can produce electrical energy from a variety of fuels such as hydrogen, natural gas, ammonia, methanol, and biofuel. The technology is suitabile for use as ship engines and cogeneration as it is highly energy efficient and can use waste heat generated from high-temperature operation (600~1000℃). HD Hyundai also noted that Elcogen’s fuel cell technology is more advanced that other fuels developed to date.

KSOE intends to focus on the use of SOFC systems to provide auxiliary power on-board vessels before scaling up to provide propulsion.

Kisun Chung, CEO of HD Hyundai/KSOE: “We expect this investment, and the strategic collaboration HD Hyundai and Elcogen will build together, will lay the cornerstone for realising the sustainable future energy ecosystem HD Hyundai envisions, which includes developing next generation clean energy technologies and expanding the value chain capabilities of future core energy sources, including hydrogen.”