Komori
Other Disclosures6269MODEC,INC.Machinery

Milestone Achieved for ABS New Technology Certification of SOFC Installation on an FPSO

For the FPSO SOFC power generation system being jointly developed by the company and Eld Energy, both the Feasibility Stage and Concept Verification Stage of ABS's new technology qualification process have been completed. Following additional reviews, a pilot test is planned on an FPSO operated by the company.

Worth reading
55In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Improvement
Direction inferred from the company’s description.
Scale
40
kW-class (Eld Power Module 40kW)
Wording
Conditional
How definitive the wording is.

Announced details

Eld Power Module 40kWSOFC power generation system for FPSOs
Applicable field (uses covered by this announcement)

FPSOs; offshore energy production; power generation for floating offshore oil and gas production facilities; decarbonized power sources; integration with carbon dioxide capture systems

Launch dateNot disclosed. Following completion of the Prototype Validation Stage and ABS's reviews related to the vessel, a pilot test is planned on an FPSO operated by the company.
What the company reported numerically
Quantitative Effects

The system's overall power generation efficiency is expected to reach approximately 70% at maximum. The company plans to expand to 120kW modules in the future, with the ultimate goal of scaling up to the megawatt class.

Relationship between the counterparty and the company
MODEC,INC.6269
Relationship with the Company

The company is jointly developing an SOFC power generation system for FPSOs with Eld Energy AS. With ABS, the relationship concerns review and qualification under the New Technology Qualification (NTQ) process.

CounterpartyEld Energy ASAmerican Bureau of Shipping(ABS)

Eld Energy AS is a company that develops SOFC power generation units. American Bureau of Shipping (ABS) is a U.S. classification society. Other information, including location, representative, capital and year established, is not disclosed.

Award/certification name

ABS New Technology Qualification (New Technology Qualification, NTQ): Feasibility Stage and Concept Verification Stage

Awarding / certifying body

American Bureau of Shipping(ABS)

In this announcement the company addresses none of Contract Value / Offering price / Impact on Business Performance.

Announced details
ItemDetails
Names of Products / Services CoveredEld Power Module 40kW, SOFC power generation system for FPSOs
CounterpartyEld Energy AS, American Bureau of Shipping(ABS)
Counterparty overviewEld Energy AS is a company that develops SOFC power generation units. American Bureau of Shipping (ABS) is a U.S. classification society. Other information, including location, representative, capital and year established, is not disclosed.
Relationship with the CompanyThe company is jointly developing an SOFC power generation system for FPSOs with Eld Energy AS. With ABS, the relationship concerns review and qualification under the New Technology Qualification (NTQ) process.
Launch dateNot disclosed. Following completion of the Prototype Validation Stage and ABS's reviews related to the vessel, a pilot test is planned on an FPSO operated by the company.
Applicable areaFPSOs; offshore energy production; power generation for floating offshore oil and gas production facilities; decarbonized power sources; integration with carbon dioxide capture systems
Award/certification nameABS New Technology Qualification (New Technology Qualification, NTQ): Feasibility Stage and Concept Verification Stage
Awarding / certifying bodyAmerican Bureau of Shipping(ABS)
Quantitative EffectsThe system's overall power generation efficiency is expected to reach approximately 70% at maximum. The company plans to expand to 120kW modules in the future, with the ultimate goal of scaling up to the megawatt class.
Items this document does not state (9)
Contract ValueOffering priceContract DateRegistration number and expiry dateLocationLocation scaleUsage historyImpact on Business PerformanceSource

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

To confirm the safety, reliability and regulatory compliance of an SOFC power generation system that can use associated gas produced by an FPSO and low-emission fuels in an offshore environment, and to advance the development of decarbonization solutions.

How to read this page

This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.
Milestone Achieved for ABS New Technology Certification of SOFC Installation on an FPSO | MODEC,INC. (6269) timely disclosure | Komori