• Collaborative R&D on next-gen technologies including waste heat recovery power generation and CCUS, driving local implementation
• Part of the Industrial and Technological Benefits (ITB) program linked to Hanwha Ocean’s Canadian Patrol Submarine Project (CPSP)
• Strategic expansion of local partnerships following recent agreement with energy infrastructure leader, Pembina

(SeaPRwire) –   CALGARY, AB and SEOUL, South Korea, May 25, 2026 — Hanwha Power (CEO Rafi Balta) announced that it signed a Memorandum of Understanding (MOU) for joint R&D in low-carbon energy with the University of Alberta on May 22 (local time).

The agreement focuses on the joint development of next-generation low-carbon power technologies, including waste heat recovery systems, Turbo Expander Generators (TEG), and Carbon Capture, Utilization, and Storage (CCUS). This partnership is being pursued as part of the Industrial and Technological Benefits (ITB) program associated with Hanwha Ocean’s Canadian Patrol Submarine Project (CPSP).

Hanwha Power is a global energy solutions company with extensive expertise in high-performance gas turbines and compressors. The company provides integrated energy infrastructure solutions that cover the entire value chain of the power industry, from equipment manufacturing to operations and services, while actively contributing to the energy transition.

The University of Alberta possesses world-class technical expertise and a significant history of energy innovation. With energy as a primary research focus, the university has cultivated the workforce and capabilities necessary to address the rapidly evolving global energy landscape, encompassing a broad spectrum of fields from hydrocarbons to renewable energy technologies.

By leveraging the university’s advanced capabilities, Hanwha Power intends to advance its proprietary “energy recycling” technologies—such as waste heat recovery power generation systems that convert waste heat from gas turbines into electricity and TEGs that transform pressure energy into power—and assess their viability in the North American market.

In addition to R&D, both parties will conduct industry-specific feasibility studies, business structure analyses, and economic assessments to facilitate full-scale commercialization, supported by the University of Alberta’s highly skilled talent pool, which is crucial for long-term growth.

Michael Sicker, Head of Hanwha Power Houston, stated, “We are delighted to partner with the University of Alberta, a key center for the energy industry. We anticipate this collaboration will equip students to become future energy experts. For Hanwha Power, this represents a significant opportunity to validate and enhance our technical capabilities within Canada.”

David Bressler, vice-president, International, Innovation and Enterprise at the University of Alberta, commented, “This MOU directs our combined expertise towards collaborative research and development of low-carbon, sustainable energy infrastructure and offers U of A students a critical avenue to apply foundational research within real-world industrial ecosystems.”

Concurrently, Hanwha Power is accelerating the establishment of the Hanwha Group’s low-carbon energy ecosystem in Canada. This initiative follows a separate MOU signed on May 20 with Pembina Pipeline Corporation, a leading Canadian energy infrastructure firm, to collaborate on low-carbon power generation projects.

SOURCE Hanwha Power