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General Electric, IHI Join Forces To Develop Emission-Free Gas Turbines

  • General Electric Co (NYSE: GE) and Japanese heavy industry manufacturer IHI Corp (OTC: IHICF) (OTC: IHICY) agreed to jointly develop ammonia combustion technologies for heavy-duty gas turbines to generate electricity with reduced or near zero CO₂ emissions.

  • In June 2021, GE and IHI agreed to conduct an economic assessment for using ammonia as a carbon-free fuel for existing and new gas turbines.

  • The companies will further define a technology roadmap to develop gas turbine technologies by 2030 that will enable GE's 6F.03, 7F, and 9F gas turbines to fire up to 100% ammonia safely and commercially competitively, with potential implementation across additional gas turbines in the future.

  • Scott Strazik, CEO of GE Vernova, said, "We hope that this collaboration will pave the way for power plant operators to pursue the adoption of carbon-free fuels such as ammonia for power generation in their GE gas turbines and significantly contribute towards lowering carbon emissions in the power sector globally."

  • Hiroshi Ide, President of IHI Corporation, said, "Through this collaboration with GE, we will focus our efforts on satisfying domestic and overseas demand for large-scale ammonia gas turbines, stimulating further demand for fuel ammonia and expanding the fuel ammonia value chain to rapidly realize a carbon-neutral society."

  • The gas turbine market for the power industry will likely grow by $3.4 billion during 2022 - 2027 at a CAGR of 3.05%, Technavio says.

  • The growth of distributed power generation base, increased CCGT power plants, and a focus on reducing carbon emissions will likely propel the momentum.

  • Price Action: GE shares traded lower by 0.67% at $79.95 in the premarket on the last check Wednesday.

  • Photo Via Company

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