Bloom Energy (BE) skyrockets on Samsung Heavy Industries partnership to develop zero emission cargo vessels

Bloom Energy (BE) announced that it has indulged in a joint development partnership agreement with Samsung Heavy Industries to develop zero emission cargo vessels.

Using Bloom Energy’s green fuel cell technology the companies plan to build eco-friendly vessels that carry liquid natural gas. 

In the end, the partners could work on improving this form of power for container ships and tankers. In a statement, Samsung Heavy and Bloom said they are replacing all current main engines and generator engines with solid oxide fuel cells in the next few years, investing millions of dollars in the technology. They declined to provide specific estimates, citing a confidentiality agreement.

Fuel cells produce electricity through an electrochemical reaction without burning coal; the process means a reduction of more than 99 per cent in particulate emissions, Sridhar said. The cells will help Samsung meet the International Maritime Organization’s target of reducing CO2 emissions by 40 percent by 2030 and 50 percent by 2050.

With the IMO 2030 regulations coming up, we felt the need to take steps to become the leader of providing eco-friendly solutions to customers

The companies said a proposal would be ready to show customers may order by 2022. According to Sridhar, it will take two to three years to build a ship, in line with the industry norm in maritime construction. The companies anticipate that the demand will expand to 300 megawatts per year for Bloom’s servers on Samsung Heavy ships, three years after the vessel’s launch.

Bloom now has a committed, cross-functional team of maritime engineers working on the project. Shipping companies like A.P. In recent years, Moeller-Maersk A / S and Mediterranean Shipping Co. have invested in scrubbers, which use water to help vessels minimize sulfur emissions and comply with IMO regulations. Jang anticipates demand for the promise of cleaner , more efficient technology.

Dual-fuel engines that are currently mounted in ships can not meet the regulations on CO2 emissions, Jang said. And, he said, “If they don’t invest in these environmentally friendly ships, shipping companies may not get employment with the oil majors”—a powerful motivation.

Samsung Heavy Industries Partnership: Is Bloom Energy (BE) a reliable investment?

Shares of Bloom Energy (BE) appear to be a very good investment option, with Wall Street analysts expecting its price to rise considerably in the next several months. The majority of the metrics point to this investment being highly attractive.

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Jay Lorrence
Jay Lorrence

Investor of 12 years and Managing Editor of Money Midnight, a news outlet focused on highly profitable investment ideas and bold underground research.

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