Dr.G.R.Balakrishnan
Oct 09 2024
Marine News (Ocean and Offshore Energy)
Hyundai
Steel is signing memorandums of understanding (MOUs) in Europe and forming
fresh partnerships in Asia as the steelmaker eyes a new wave of global growth
in AI and offshore wind energy. This
move is a proactive response to the carbon border adjustment mechanism (CBAM),
which imposes taxes on carbon-intensive goods entering the EU. Hyundai Steel
recently announced that it signed MOUs with Czech car parts manufacturing giant
Tawesco and Italian steel service center Eusider.
Since these companies supply steel to major European automobile manufacturers
like Volkswagen and Stellantis, they require low-carbon steel plates to comply
with the future carbon neutrality strategies of global automobile firms. Meanwhile, Hyundai Steel is investing in
low-carbon steel plate manufacturing facilities at its steel plant in Dangjin,
South Chungcheong, while searching for potential sources of demand.
Hyundai Steel and its new MOU-bound
clients will test low-carbon steel plate components and launch a joint
marketing campaign to expand into related markets.
Hyundai Steel has also partnered with Singapore’s Advanced Remanufacturing and
Technology Center (ARTC) to construct a smart factory. The partnership involves
developing visual AI technology in cooperation with ARTC, which operates under
Singapore’s Agency for Science, Technology, and Research. Hyundai Steel stated
it struck a non-disclosure agreement (NDA) with ARTC regarding the development
of AI technology through Singapore’s Open Innovation Network (OIN).
The OIN is an innovation ecosystem that
connects the Singaporean government, universities and companies to collaborate
on and co-develop innovative solutions and technologies. Through this
partnership, leveraging ARTC’s history of working with the Hyundai Motor Group
Innovation Center Singapore (HMGICS) and the Open Innovation Network, Hyundai
Steel anticipates innovation in steel manufacturing by applying an AI model
that can detect product impurities and enhance overall product quality.
Hyundai Steel has also identified a new
target market: offshore wind energy. Aiming to supply metals used in
offshore wind power structures, Hyundai Steel is taking swift action as an
early mover in this promising market.
