MOU With Norwegian Classification Society to Expand Certification, Joint R&D

Hyundai Steel (004020.KS) said on the 11th that it is partnering with Norway's classification society DNV (Det Norske Veritas) to strengthen the technological competitiveness of steel used in energy transport and storage.

Hyundai Steel signed a memorandum of understanding with DNV on the 10th at DNV's Korean headquarters, part of its classification business division, in Busan's Haeundae district. The agreement covers building a certification framework and pursuing joint technology development for future-energy steel and welding technology. DNV is a global classification and certification body headquartered in Norway that assesses the safety of ships and offshore plants and sets international technical standards.

The two organizations agreed to jointly pursue several goals: developing technology to evaluate and verify the performance of steel for future energy transport and storage; establishing testing and evaluation methods that reflect real-world operating conditions; verifying the reliability of welded joints; and expanding a certification base that meets international standards.

The move comes as the market for eco-friendly energy sources such as ammonia and hydrogen grows, making the safety and reliability of materials used in the ships and offshore plants that transport and store them increasingly important. Materials that have obtained international certification, in particular, can gain an edge in winning contracts for global projects.

Hyundai Steel plans to draw on its research infrastructure and its capabilities in materials development and evaluation to conduct testing and analysis of steel and welded joints, while DNV will support the establishment of evaluation standards and provide technical consulting based on its expertise in international standards and certification.

Hyundai Steel expects the deal to further strengthen its technological competitiveness across the chain running from product development to performance evaluation and certification. "Through our collaboration with DNV, we will raise the performance and reliability of steel demanded by the global energy market and proactively build technological competitiveness that meets international standards," a Hyundai Steel official said.

Source:  Fuel Cells Works