SEOUL, June 25 (Yonhap) — Daewoo Shipbuilding & Marine Engineering Co. (DSME) will develop an energy storage system (ESS) for ships in cooperation with a group comprising a local company and research institutes, the shipbuilder said Friday.
Within the next three years, the group plans to develop a lithium battery-based ESS that will be mounted on large-scale ships to be built by local shipbuilders.
An ESS refers to a system that provides electricity during hours at its peak usage after storing it during hours at lower usage.
The ESS and fuel cells have emerged as alternative energy sources as environment regulations for ships by the International Maritime Organization (IMO) have been toughened.
The group consists of 13 participants, including DSME, local armored vehicle producer Hanwha Defense and the Korea Research Institute of Ships & Ocean Engineering, the company said.
The ESS development project was ordered by Korean Energy Technology Evaluation and Planning (KETEP), a unit under the Ministry of Trade, Industry and Energy, the company said.
Earlier, DSME developed an ESS for mid-sized submarines, teaming up with Hanwha Defense, the shipbuilder added.