HMM has announced that the company has signed a Memorandum of Understanding (MoU) with PANASIA to collaborate on onboard carbon capture system for vessel application.
Onboard carbon capture system is an advanced technology to capture CO2 (carbon dioxide) from greenhouse gas (GHG) emissions generated during vessel operation, ensuring it is not emitted into the atmosphere. This solution has the potential to play a significant role in reducing CO2 emissions.
HMM and PANASIA sign MoU
Under the terms of the Memorandum of Understanding (MoU), HMM and PANASIA will perform a feasibility study, economic analysis and risk assessment. In addition, the handling process of captured CO2 is one of the vital areas of study.
Based on research findings, HMM is expected to install the carbon capture system and perform an operational test on its vessels.
Carbon capture technologies help attain net-zero emissions
Carbon capture technologies are one of the alternatives in support of the net-zero ambitions of the global community"
Kim Gyou-bong, the Chief Maritime Officer at HMM, said “Carbon capture technologies are one of the alternatives in support of the net-zero ambitions of the global community.”
Kim Gyou-bong adds, “We will continue to participate in collaborative partnerships to develop onboard carbon capture solutions on our pathway to carbon neutrality.”
Explore sustainable energy sources
As an environmental initiative, HMM has unveiled its target of reaching net-zero carbon emissions across its entire fleet by the year – 2050.
HMM explores various sustainable energy sources to achieve the target, including biofuels, LNG, hydrogen, and green ammonia.