Hanwha and Baker Hughes Enter into Joint Development Agreement for Ammonia Gas Turbines
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 03 2025
0mins
Source: Yahoo Finance
Joint Development Agreement: Hanwha Power Systems and Hanwha Ocean have partnered with Baker Hughes to develop low carbon ammonia gas turbines aimed at achieving carbon-free ship operations, with plans to complete development by 2028.
Technological Innovation for Decarbonization: The collaboration focuses on creating a turbine capable of 100% ammonia combustion, which is expected to significantly advance eco-friendly fuel propulsion in the maritime industry.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
