SK Enmove, Hanwha Aerospace to develop ESS for vessels

South Korea’s lubricating oil maker SK Enmove Co. and defense industry company Hanwha Aerospace Co. will jointly develop energy storage systems (ESS) for ships that use immersion cooling technology.

Both companies on Tuesday signed an agreement to expand their operations in immersion-type ESS for vessels at this year’s KORMARINE International Marine, Shipbuilding, Offshore, and Oil & Gas Exhibition at Busan Exhibition and Convention Center, aka BEXCO, in Busan.

Through this deal, the two sides plan to develop immersion cooling technology for ESS on ships to get an early lead on the vessel ESS market. SK Enmove will create liquids exclusively for immersion cooling systems using lubricating base oil and Hanwha Aerospace will devise technologies for vessel ESS systems based on its lithium battery know-how.

Liquid immersion cooling for vessel ESS, a next-generation method of thermal management that uses liquid to immerse and cool a ship’s ESS, is considered safer than conventional air cooling methods. 

The global market for vessel ESS is forecast to grow an average 15.5% per year from $2.1 billion (2.8 trillion won) in 2021 to $7.6 billion (10.2 trillion won) in 2030.

Write to Mi-Sun Kang at misunny@hankyung.com