ABS, HHI and KSOE Collaborate on Green Hydrogen Production and Carbon Capture and Storage
4.11.2021 12:00:00 EET | Business Wire | Press release
At COP26, ABS, Hyundai Heavy Industries (HHI) and Korea Shipbuilding and Offshore Engineering (KSOE) have announced two landmark joint development projects (JDPs) to develop decarbonization technologies to support global sustainability ambitions.
The JDPs address green hydrogen production and offshore carbon capture and storage (CCS), two technologies which will be critical to achieving net zero.
ABS, HHI and KSOE will jointly develop technical guidance for green hydrogen production from offshore platforms as a key first step to the design and construction of a facility by 2025. The guidance will facilitate the development of production facilities providing a vital contribution in the growth of a global green hydrogen economy.
The project will utilize the electrolysis of seawater to generate green hydrogen. Later stages potentially include ABS Approval in Principle (AIP) and generic design approval, supporting engineering development right through to project construction.
A second offshore carbon capture JDP is focused on securing an AIP for HHI and KSOE’s design for a CO2 injection platform for offshore storage. The platform is designed to be able to store 400,000 tons of captured and liquefied CO2 every year from 2025.
The announcement is timed to coincide with the 2021 United Nations Climate Change Conference, COP26, in Glasgow, where the potential of green hydrogen to support global sustainability ambitions and the capture, utilization and sequestration of carbon will be central to the discussion. Green hydrogen is a fuel created using entirely renewable energy sources. Currently, only one percent of hydrogen fuel is produced this way.
“We are pleased to leverage our expertise in the green hydrogen and CCS platform pathway for decarbonization offshore. These projects are part of our continuous endeavors and commitment to a sustainable future that is aligned with HHI Group’s ESG vision, “Beyond Blue Forward to Green”. We also promise that HHI Group will encourage new value creation to lead the market, satisfying customers’ desire for the achievement of GHG zero emissions,” said Won Ho JOO, HHI Senior Executive Vice President and Chief Technical Officer.
“It is a quite meaningful technological milestone in obtaining the JDPs for these innovative green hydrogen and CCS platforms in offshore. KSOE believes our self-developed model will contribute to the global decarbonization effort. Also, we are preparing the development of the whole value chains of both CO2 and green hydrogen. In the near future, we will show the Perfect Net Zero technology,” said Sung Joon KIM, CTO of KSOE.
“Securing the required quantities of zero-carbon fuels to power our industry’s transition will require significant scaling up of the global renewable energy sources. Green hydrogen will certainly have a critical role to play but we are starting from a very low base and increasing production is an urgent global priority. Meanwhile, carbon capture is a potential game changer, and ABS is working to accelerate development of both the technology and the vessels required to make it viable,” said ABS Chairman, President and CEO, Christopher J. Wiernicki. “We are proud to be able to use our industry-leading offshore and sustainability expertise to support advances in these key areas of technology and the international decarbonization drive.”
▬▬
About ABS
ABS, a leading global provider of classification and technical advisory services to the marine and offshore industries, is committed to setting standards for safety and excellence in design and construction. Focused on safe and practical application of advanced technologies and digital solutions, ABS works with industry and clients to develop accurate and cost-effective compliance, optimized performance and operational efficiency for marine and offshore assets.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211104005089/en/
Contact information
For more information, contact:
ABS Media Relations
glewis@eagle.org
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
FDA Issues Modified Risk Tobacco Product Orders for 20 ZYN Nicotine Pouch Products30.6.2026 19:19:00 EEST | Press release
Philip Morris International Inc. (PMI) (NYSE: PM) today announced that the U.S. Food and Drug Administration (FDA) issued Modified Risk Tobacco Product (MRTP) orders for 20 variants of ZYN nicotine pouch products. These are the first MRTP orders granted for nicotine pouches, allowing PMI U.S. to market the following claim for the authorized ZYN products: “Using ZYN instead of cigarettes puts you at a lower risk of mouth cancer, heart disease, lung cancer, stroke, emphysema, and chronic bronchitis.” “FDA’s decision is an important moment for the more than 45 million legal-age nicotine consumers in America,” saidStacey Kennedy, PMI U.S. CEO. “Today’s news ensures these adultshave access to accurate, science-based information, including FDA-authorized evidence that switching from cigarettes to ZYN reduces the risk of smoking-related diseases like heart disease and lung cancer,” she added. “More broadly, it reinforces the agency’s science-based approach to evaluating products across the co
Caidya Announces Strategic Combination with Simbec-Orion Bridging Early Scientific Insight and Global Clinical Execution30.6.2026 18:00:00 EEST | Press release
Caidya today announced a strategic combination with Simbec-Orion designed to close the divide between early scientific insight and global clinical execution. The combination of Caidya and Simbec-Orion creates a differentiated specialty clinical CRO platform that enables programs to scale, maintaining focus, speed, and accountability. The strategic combination brings together complementary strengths to create a more complete development partner for innovative biopharma companies. With established operations across Europe, the Americas, APAC, and China, the combined organization provides meaningful expertise and execution capabilities in the regions that matter most. Simbec-Orion brings early-phase clinical pharmacology capabilities alongside deep therapeutic expertise for later stage complex oncology and rare disease trials, helping sponsors shape critical decisions early in the development lifecycle. Together, the organizations strengthen their ability to support complex, cross-border
Archer® Proves Purpose-Built AI Beats General-Purpose LLMs on Regulatory Change Management: 95% Verified Accuracy, 80x Faster, 92% Lower Cost30.6.2026 17:13:00 EEST | Press release
For enterprises deploying AI in compliance, a wrong date is a missed deadline. The more dangerous failure is a wrong answer the model returns with high confidence, one that flows silently into a compliance calendar and is only discovered after the window has passed. Archer® today released results showing purpose-built AI beats a general-purpose large language model (LLM) on regulatory work, and it’s not close. This head-to-head test compared Archer’s purpose-built, vertical-specific AI and proprietary data sets against a leading general-purpose LLM, on a core compliance task: determining the publication, effective and comment-close dates of regulatory documents across six jurisdictions. General-purpose models are a genuine breakthrough, and this is no referendum on their quality. The question Archer set out to answer is narrower and more practical: what it takes to make a specific, high-stakes determination reliable, fast and affordable at scale. A vertical, domain-focused process, gro
Altasciences Supports Key Development Milestone for Steel Therapeutics’ Lead Therapeutic Candidate, Fizurex™30.6.2026 17:08:00 EEST | Press release
Altasciences, a leading drug development organization, today announced a significant milestone in the development of Steel Therapeutics, Inc.’s pivotal toxicology study for its lead product candidate, Fizurex™, for the treatment of anal fissures. The successful completion of the study plays a significant role in the advancement of Fizurex™ toward first-in-human trials. The GLP-compliant study demonstrated a favorable safety profile, which has advanced Steel Therapeutics' plans to submit an Investigational New Drug (IND) application for Fizurex™ to the FDA in Q3 2026. Fizurex™, a patent-pending, single-use topical wipe, was designed to provide a standardized, accessible treatment option for a painful and often undertreated medical condition. The product builds on years of use through compounding pharmacy prescriptions and is now advancing toward clinical development and regulatory review. "We are proud to have supported Steel Therapeutics with the generation of the high-quality safety d
Interactive Brokers Expands Access to Korean Equities with Launch of Nextrade ATS30.6.2026 17:00:00 EEST | Press release
Interactive Brokers (Nasdaq: IBKR), an automated global broker, today announced the launch of select Korean equities through Nextrade, South Korea's first Alternative Trading System (ATS). The addition of Nextrade builds on Interactive Brokers' earlier launch of the Korea Exchange (KRX), through which it became the first major US-based broker to provide global investors with direct access to Korean equities. Clients trading on Nextrade benefit from significantly extended trading hours and access to additional liquidity. Interactive Brokers has enabled IB SmartRouting℠ across both the Korea Exchange (KRX) and Nextrade, automatically routing orders to the venue offering the best price. This helps clients achieve best execution while providing greater flexibility and more opportunities to participate in one of Asia's most dynamic equity markets. Korea's equity market ranks among the top global exchanges by market capitalization and is home to world-leading companies such as Samsung Electr
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom