On May 31st 2023, HD Korea Shipbuilding & Offshore Engineering announced that it had joined a 14-member consortium, consisting of EU-based companies and institutions, including the Dresden University of Technology and the American Bureau of Shipping (ABS). The consortium will initiate the joint development of a large-scale liquefied hydrogen cargo containment system starting next month.
The research project has been selected by Horizon Europe, the largest research and innovation financing program of the EU, and will be receiving funding from the European Commission. The HD KSOE consortium aims to invest EUR 10 million (KRW 14 billion) over the course of four years to develop a 160,000 m3 liquefied hydrogen cargo tank.
HD KSOE, which holds the record for the most gas carrier orders in the world, will be responsible for the conceptual and basic design of the cargo tank, and the core technology of the project. According to HD KSOE, the participation of many engineering firms, such as HYDRUS and TWI, in addition to global shipping firms such as ABS, is expected to create synergy with domestic research institutions and companies in the fields of design, production, and risk assessment.
Through this project, HD KSOE aims to secure the source technology for hydrogen cargo tanks and to take on the leadership role in setting out global standards. Since hydrogen energy consumes water, a near-limitless resource, as its fuel and produces no carbon dioxide during combustion, it continues to gain more attention as a key energy source that will lead the carbon-neutral era.
A HD KSOE official stated that "participation in this project recognizes the company’s competence in next-generation eco-friendly ships" and added that "(the Company) will proactively engage in the development of leading eco-friendly technologies, including hydrogen."