Japan’s IHI Corporation and Singapore’s ST Engineering have signed a memorandum of understanding (MoU) on the joint promotion of smart and sustainable solutions.
Specifically, under the MoU, the two parties will explore the application of their smart and sustainable solutions in new use cases and markets.
IHI said the companies aim to build a greener future and help customers achieve sustainability goals, noting that they will draw upon combined strengths in technology and engineering to jointly pursue opportunities in urban solutions, energy management and hydrogen technology, ammonia solutions and space data applications.
Japanese company revealed the parties will co-develop new technologies and solutions that address market needs, and engage with key industry stakeholders for knowledge sharing to accelerate learning curves and encourage wider adoption.
These efforts aim to address urban issues such as road congestion, enable increased use of clean energy, and allow the impact of climate action to be more effectively measured and monitored through the use of remote data, IHI added.
To note, 2024 has gotten off to a busy start for IHI. Together with Japanese companies Japan Petroleum Exploration, Mitsubishi Gas Chemical, Mitsui & Co. and Mitsui O.S.K. Lines (MOL), the company started a joint study for the establishment of the ammonia supply base in the Soma area, Fukushima Prefecture.
Furthermore, IHI signed an offtake term sheet with India’s ACME Group for the supply of green ammonia from India to Japan, and a joint development agreement (JDA) with U.S. GE Vernova’s business unit GE Gas Power to progress to the next phase of technology and engineering for the development of a new gas turbine combustor capable of using ammonia as a viable fuel option for power generation compatible with GE Vernova’s 6F.03, 7F and 9F gas turbines.