Hanwha General Chemical

Hanwha General Chemical Co. and Korea Western Power Co. have signed an agreement to develop a hydrogen-fired gas turbine that can use both LNG and hydrogen. They plan to convert an 80 MW gas turbine to run on over 50% hydrogen by the first half of 2023, with a goal of 100% hydrogen capability.

Thomassen Energy announced it has been acquired by Hanwha General Chemical, a division of the Hanwha group headquartered in South Korea. The acquisition was completed on July 14, 2021.

Hanwha General Chemical acquired the aftermarket gas turbine business of Ansaldo Energia through equity purchase of eight entities across seven jurisdictions, including Power Systems Mfg. LLC in the U.S. and Ansaldo Thomassen B.V. in the Netherlands. The transaction signed on March 18, 2021 and closed on June 29, 2021.

Hanwha General Chemical acquired 100% equity of US-based PSM and Netherlands-based Ansaldo Thomassen, both gas turbine service companies with hydrogen co-firing technology. The acquisition contract was signed on March 19, 2021, with completion expected by June 2021.