Hanwha Power Systems
- Industrial compressors
- Power generation solution
Established in 1977, Hanwha Power Systems launched an energy equipment business in 1997 by building on its reliable technology and deep experience in gas turbine engines. Since then, we’ve become a global powerhouse and have delivered more than 6,500 units of air and gas compressors worldwide. In 2017, we relaunched as an independent company and have achieved an operating surplus for four consecutive years through 2021, setting the foundation for stable growth. In October 2022, we were acquired as a subsidiary of Hanwha Impact.
In the compressor business, we utilized our proprietary design, production, and testing capabilities to develop technology-intensive products, including industrial air compressors for various manufacturing processes; fuel gas compressors for power plants; and boil-off gas compressors and expanders for LNG carriers, terminals, and plants.
We won the contract to supply the world's first marine Vapor Recovery Unit (VRU) steam recovery turbo compressor. We also won the contract to provide compressors for Floating Storage Regasification Units (FSRU) and LNG carriers. These machines allowed us to demonstrate our outstanding technology in the global market. Our compressors and expanders use core components developed in-house that permit them to operate with shorter lead times and better performance. Their high efficiency is a competitive advantage for our customers. In 2021, we were awarded a Nitrogen Refrigerant System (NRS) project for a Liquefied Natural Gas Floating Storage Unit (LNG-FSU) from Daewoo Shipbuilding & Marine Engineering, which led to being selected as the standard for NRS specifications and listed on the maker list.
We continue to grow in the power generation solutions market by developing eco-friendly and high-efficiency power generation systems, such as TEG (Turbo Expander Generator) and sCO2 Power Systems (Supercritical CO2). In 2021, we successfully completed the sCO2 Power Systems development project for the U.S. Department of Energy (DOE) and passed tests for commercialization, preemptively securing solutions that can replace existing steam turbines in the distributed power generation.
With the goal of accelerating the transition to clean energy across our society and industry, we acquired hydrogen combustion technology companies. We now provide customers in the U.S. and the Netherlands with solutions that retrofit the gas turbines of LNG-fired power plants, so they run on up to 65% hydrogen fuel. Following the 2021 project for the Linden Cogeneration Plant in New Jersey, in the U.S., we won the order in 2022 from Uniper, one of the world’s largest power producers, to retrofit their LNG gas turbines in Rotterdam, in the Netherlands. This transformational approach will help us move to a carbon neutral society. Recently, we teamed with Korea Western Power to develop technology that ramps up hydrogen content in gas turbines.
We are working closely together to win the government’s demonstration project for F-class gas turbine hydrogen combustion. We are intent on building long-term partnerships as we rapidly expand sales, customer service and R&D networks around the world. We’re strengthening our partnerships so we can provide better local customer service for our expanded product line. For example, we are working on securing vendor approvals from Saudi Aramco and other major clients in the Middle East and Asia. At the same time, our Houston R&D Center in the U.S. is accelerating co-development efforts for innovative projects on a global scale. One of these joint development projects is to build a sCO2 Power Systems with the Southwest Research Institute (SwRI), an independent R&D nonprofit group based in Texas, in the U.S. Looking ahead, we plan to further strengthen the competitiveness of our existing businesses and expand into new areas, such as developing a product lineup for eco - friendly ships and successfully implementing the sCO2 projects. In addition, we will become a global leader in power and energy solutions by using future engineering technology that helps the green environment.
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