Hanwha Power Boosts Support for $40B Submarine Project with Low-Carbon Energy MOU with University of Alberta

• 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

CALGARY, AB and SEOUL, South Korea, May 25, 2026 /PRNewswire/ -- 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 spearheaded 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 deep-rooted expertise in high-performance gas turbines and compressors. The company delivers integrated energy infrastructure solutions spanning the full value chain of the power industry — from equipment manufacturing to operations and services — while actively driving the energy transition.

The University of Alberta boasts world-class technical expertise and a long history of energy innovation. As energy is a core research area, the university has fostered the workforce and capabilities required to respond to the rapidly changing global energy environment, spanning a wide range of fields from hydrocarbons to renewable energy technologies.

By leveraging the university's advanced capabilities, Hanwha Power plans to advance its proprietary "energy recycling" technologies—such as waste heat recovery power generation systems that convert gas turbine waste heat into electricity and TEGs that transform pressure energy into power—and evaluate their feasibility in the North American market. 

Beyond R&D, both parties will conduct industry-specific feasibility studies, business structure analyses, and economic assessments to pave the way for full-scale commercialization, supported by the University of Alberta's highly skilled talent pipeline that is essential for long-term growth.

Hanwha Power's Michael Sicker, Head of Hanwha Power Houston, said, "We are pleased to partner with the University of Alberta, a hub for the energy industry. We hope this collaboration empowers students to grow into future energy experts. For Hanwha Power, this is a significant opportunity to validate and refine our technical capabilities within Canada."

David Bressler, vice-president, International, Innovation and Enterprise, University of Alberta, said, "This MOU channels our joint expertise into collaborative research and development of low-carbon, sustainable energy infrastructure and provides U of A students a vital opportunity to apply foundational research in real-world industrial ecosystems."

Meanwhile, Hanwha Power continues to accelerate the establishment of the Hanwha Group's low-carbon energy ecosystem in Canada. This follows another 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