Korea Shipbuilding & Offshore Engineering announced on May 31 that it has formed a consortium with 14 institutions in Europe, including the American Bureau of Shipping and Dresden University of Technology, to commence joint development of large liquefied hydrogen cargo tanks from next month.

This project has been selected for “Horizon Europe,” the EU’s largest research and innovation funding program, and will receive grants from the European Commission.

The KSOE consortium plans to invest a total of 10 million euros (approximately 14 billion won or US$10.7 million) over four years to develop a 160,000 cubic meter liquefied hydrogen cargo tank. KSOE, which has secured the most gas carrier orders worldwide, will be responsible for the conceptual and basic design of the liquefied hydrogen cargo tank, which is the core of the project.

The company also expects to create synergies with domestic research institutes and businesses in design, manufacturing, and risk assessment through participation from global classification societies like ABS and engineering companies such as HYDRUS and TWI.

KSOE anticipates securing core technologies for hydrogen cargo tanks and leading global standards through this project.

Source: BusinessKorea