Latest news with #HDHyundai
Korea Herald
2 hours ago
- Automotive
- Korea Herald
HD Hyundai Oilbank, Shell to shore up lube base oil business
HD Hyundai said Friday that its joint venture with Shell will enter the high-performance, high-added-value lube base oil market, bolstering its lineup of premium products. HD Hyundai Shell Base Oil, a 60:40 joint venture between HD Hyundai Oilbank and Shell, will invest in expanding its Daesan plant in Seosan, South Chungcheong Province, with a goal to begin full-scale commercial production of Group III LBO in 2027. Lube base oil, or LBO, is the primary component for various types of lubricants such as engine oil and industrial lubricants. It is categorized into three groups based on manufacturing processes and quality traits. Due to its high viscosity index, low amount of sulfur, great oxidation stability, Group III lube base oil is considered an eco-friendly, high-performance product and is seeing a growth in its global demand. The Group III LBO produced by HD Hyundai Shell Base Oil will be supplied to a fast-growing lubricant market of high-performance cars, electric vehicles and immersion cooling systems used at data centers. HD Hyundai Shell Base Oil opened its plant in 2014 and started producing Group II LBO. It has continued to expand its global presence to Asia, Europe and North America and now supplies products to 50 countries. 'Based on the experiences that have satisfied the quality demands from various clients, we have decided to add another premium product lineup,' said an official at HD Hyundai Shell Base Oil. 'Through technological cooperation with Shell, we will do our best to begin commercial operation according to the scheduled plan.'
Yahoo
11 hours ago
- Business
- Yahoo
TerraPower Lands $650 Million From Nvidia
Bill Gatesbacked TerraPower has closed a $650 million round led by Nvidia's (NASDAQ:NVDA) NVentures to fuel its first Natrium reactor as AI's power demands surge. The funding, which brings Nvidia's venture arm alongside existing investors like Gates and HD Hyundai, comes as TerraPower advances toward regulatory approval for its Natrium plantpoised to be the U.S.'s inaugural commercial advanced nuclear facility with modular, streamlined construction. Warning! GuruFocus has detected 4 Warning Signs with NVDA. Non-nuclear work kicked off last year, and with construction ramping up, this capital infusion will cover engineering, licensing and early site development. UBS (NYSE:UBS) served as the exclusive placement agent, and TerraPower remains privately held. As AI and data centers gobble electricity, reliable, carbon-free power is critical. Nvidia's entry signals tech leaders betting on next-gen nuclear to meet soaring energy needs. If Natrium succeeds, it could reshape the energy landscapeproviding stable baseload that complements intermittent renewables and fuels compute-hungry AI. Watch for TerraPower's licensing milestones and initial reactor blueprints next year. Success could pave the way for similar modular plants worldwideand cement nuclear's role in powering tomorrow's AI revolution. This article first appeared on GuruFocus.
Yahoo
11 hours ago
- Business
- Yahoo
TerraPower Lands $650 Million From Nvidia
Bill Gatesbacked TerraPower has closed a $650 million round led by Nvidia's (NASDAQ:NVDA) NVentures to fuel its first Natrium reactor as AI's power demands surge. The funding, which brings Nvidia's venture arm alongside existing investors like Gates and HD Hyundai, comes as TerraPower advances toward regulatory approval for its Natrium plantpoised to be the U.S.'s inaugural commercial advanced nuclear facility with modular, streamlined construction. Warning! GuruFocus has detected 4 Warning Signs with NVDA. Non-nuclear work kicked off last year, and with construction ramping up, this capital infusion will cover engineering, licensing and early site development. UBS (NYSE:UBS) served as the exclusive placement agent, and TerraPower remains privately held. As AI and data centers gobble electricity, reliable, carbon-free power is critical. Nvidia's entry signals tech leaders betting on next-gen nuclear to meet soaring energy needs. If Natrium succeeds, it could reshape the energy landscapeproviding stable baseload that complements intermittent renewables and fuels compute-hungry AI. Watch for TerraPower's licensing milestones and initial reactor blueprints next year. Success could pave the way for similar modular plants worldwideand cement nuclear's role in powering tomorrow's AI revolution. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Korea Herald
2 days ago
- Business
- Korea Herald
Korean shipbuilding rivals unite for Poland's W8tr submarine bid
HD Hyundai Heavy Industries and Hanwha Ocean, maritime-to-defense competitors, are forming an alliance to win Poland's 8 trillion won ($5.8 billion) worth submarine bid, aiming to resolve their decades-long rivalry to boost global exports. According to industry sources Wednesday, the two companies are seeking to land Poland's Orka Project by presenting themselves as a South Korean consortium, marking their first partnership in pursuing a large-scale export contract. The project includes construction and maintenance, repair and operations (MRO) of three 3,600 metric ton submarines for the Polish Navy. While project details remain undisclosed, industry insiders anticipate that Poland will select a preferred bidder by the second quarter and make a final decision by September. Although HD Hyundai and Hanwha had already submitted separate proposals in November 2023 before allying this year, industry insiders suggest that the Polish government might view their unified effort, which combines the strengths of both companies, as enhancing technological competitiveness. 'HD Hyundai Heavy Industries and Hanwha had proposed 2,300-ton and 3,000-ton vessels, respectively, to Poland. This dual approach can address the various needs of the Polish government, increasing the likelihood of Korea securing the contract on a national level,' said a source on condition of anonymity. In February, HD Hyundai and Hanwha signed a memorandum of understanding to establish a joint team with the state-run Defense Acquisition Program Administration for ship export projects. Under this agreement, HD Hyundai will lead surface ship export initiatives, while Hanwha will focus on submarine exports, with each company supporting the other. In the following month, they submitted a proposal to secure a 20 billion won Canadian submarine project. The rival shipyards' belated partnership comes after Korea's unsuccessful bid for Australia's new frigate project last year. HD Hyundai and Hanwha pursued the project separately, only to lose to unified teams from Japan and Germany. DAPA reportedly mediated the ongoing feud between the two companies over the 8 trillion won next-generation Korean destroyer (KDDX) bid, urging collaboration to increase their chances of landing global export bids. Despite the Korean government's efforts, the shipbuilders maintain their competitive standoff on the Korean Navy's advanced warship development project. HD Hyundai, the primary contractor selected by DAPA for the basic design of the KDDX in 2020, faced a setback when Hanwha filed a police complaint in March, alleging that HD Hyundai executives were involved in leaking Hanwha's confidential materials related to the KDDX bid. In November, Hanwha withdrew the complaint, citing 'mutual support and cooperation' for the country's shipbuilding industry. However, the company did not retract its application for the Ministry of Trade, Industry and Energy's KDDX contractor designation process this year. While DAPA oversees the project, the industry ministry is in charge of officially designating the contractor. DAPA postponed the selection process multiple times, from April until after the presidential election. 'Although collaborating as a joint team for global exports is a reasonable strategy for both companies, with growing maritime security threats from North Korea, it is vital for the government to prioritize the rapid deployment of advanced warships like the KDDX,' the source said. 'The industry calls for swift and decisive action to achieve the fastest possible operations of those ships.'
Yahoo
3 days ago
- Automotive
- Yahoo
HD Hyundai develops Korea's first high-pressure electric propulsion drive
HD Hyundai has announced that its subsidiary HD Korea Shipbuilding & Offshore Engineering has developed a Modular Multilevel Converter (MMC) structure high-pressure propulsion drive product. The development marks Korea's first 'high-pressure propulsion drive' for electric propulsion vessels, according to the company. Electric propulsion ships are increasingly in demand for their superior manoeuvrability and lower noise levels compared to traditional diesel engines. The propulsion drive developed by HD Hyundai is claimed to help in controlling the electric motor's output, impacting ship performance, power quality for high-power weapon systems, and overall survivability. The onshore verification of this technology marks a step towards the localisation of electric propulsion ships in Korea. The demonstration event was attended by HD Korea Shipbuilding & Offshore Engineering CEO Kim Sung-joon, HD Hyundai Heavy Industries Special Vessel Business Division Head Joo Won-ho, and HD Hyundai Electric CEO Kim Young-ki, alongside officials from organisations involved in ship electrification. Seong-jun said: 'The high-pressure propulsion drive product developed by HD Hyundai is a symbol of HD Hyundai's shipboard electrification technology and we plan to spur commercialisation and lead the development of K-maritime defence's global market with domestic technology.' The project, initiated in 2022 with domestic experts from Seoul National University and Kyungpook National University, led to the creation of the MMC structure high-voltage propulsion drive in December 2024. This product features large capacity, high voltage, flexible power module configuration, and reduced system volume and weight by more than 20%. Previously, only two companies in Europe and the US had reportedly commercialised such high-pressure propulsion drives. HD Korea Shipbuilding & Offshore Engineering is now collaborating with various institutions, including the Korea Electrotechnology Research Institute and Korea Shipbuilding & Offshore Equipment Research Institute, to commercialise the MMC structure high-pressure propulsion drive by 2027. In related news, HD Hyundai Heavy Industries and the Korean Register have also signed an MoU to develop a very large ethane carrier (VLEC). "HD Hyundai develops Korea's first high-pressure electric propulsion drive" was originally created and published by Ship Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
