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Hanwha Systems gearing up to enter air taxi market

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Hanwha Systems is making a $25 million investment in US air taxi startup Overair, and has received approval from the relevant authorities for the move.

Hanwha Systems and Overair research and development are planning to co-develop and bring the “Butterfly” to the US air-taxi market by the year 2025.

In early December of 2019, Youn-Chul Kim, CEO of Hanwha Systems, said that the Committee on Foreign Investment in the United States (CFIUS) approved Hanwha Systems’ $25 million investment in Overair (previously K4 Aeronautics), a leading US air-taxi startup. [Read more…] about Hanwha Systems gearing up to enter air taxi market

Hanwha to supply $300 million of aircraft engine components to GE

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Hanwha Aerospace has signed a $300 million contract to supply cutting-edge aircraft engine components to General Electric, the US conglomerate and one of the leading aircraft engine manufacturers in the world and a top supplier for Boeing.

Hanwha Aerospace will supply GE with 46 types of engine components for GE’s GE9X and LEAP engine.

The GE9X is GE’s most advanced engine and expected to enter commercial production in 2020 while the LEAP is the world’s best-selling aircraft engine. [Read more…] about Hanwha to supply $300 million of aircraft engine components to GE

Hanwha opens collaborative robotics centre in Europe

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Hanwha Robotics has opened a collaborative robotics centre near Frankfurt, Germany. The company’s new Technical Centre will also highlight its other precision machinery offerings.

Hanwha Precision Machinery’s president, Ki-Nam Lee, officially launched the facility an a grand opening ceremony recently. The Technical Centre is part of Hanwha’s efforts to accelerate the company’s growth in the European market.

Hanwha is aiming to increase sales in Europe by “at least €30 million” and make Europe account for more than 15 per cent of its total sales. [Read more…] about Hanwha opens collaborative robotics centre in Europe

Hanwha demonstrates CNC machine tending using collaborative robot

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Hanwha Robotics has demonstrated a CNC machine tending solution using its HCR-5 collaborative robot. 

The company says the demand for collaborative robot solutions is increasing because such solutions enable the operator to reduce waiting times during the process.

These solutions also relieve workers from ergonomically unfavorable and hazardous jobs. [Read more…] about Hanwha demonstrates CNC machine tending using collaborative robot

Hanwha Robotics and Wipro team up on Indian cobot market 

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Hanwha Precision Machinery’s Robot Business Division has signed a Memorandum of Understanding with Wipro Infrastructure Engineering (WIN) to establish a local sales and operations office in India.

The partnership combines the core competencies between the two companies: Hanwha’s cobot manufacturing and development capabilities and WIN’s Automation Solutions business and broad sales network in India.

Through this partnership, Hanwha Robotics will be able to sell its factory automation cobots to WIN’s customer base through its sales network.

[Read more…] about Hanwha Robotics and Wipro team up on Indian cobot market 

Hanwha Aerospace acquires US aircraft engine component manufacturer

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Hanwha Aerospace has signed a deal to fully acquire EDAC Technologies, an American aircraft engine component manufacturer. The deal is expected to be worth around USD 300 million, which will be finalised once negotiations are completed.

The Korean company made a preliminary bid for EDAC Technologies in April of 2019 and entered a period of due diligence before making a final offer.

EDAC Technologies is an aircraft engine component manufacturer based in Connecticut, with a workforce of 590 people. It recorded USD 150 million in revenue in 2018.

[Read more…] about Hanwha Aerospace acquires US aircraft engine component manufacturer

Hanwha Energy extends its reach across the Pacific with Hawaii energy project

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Hanwha Energy has been awarded a major solar energy contract by Hawaiian Electric Company (HECO) as part of the state’s efforts to achieve 100% renewable energy generation.

The contract is for the Hoohana project, a major solar energy development on the island of Oahu, Hawaii, USA. South Korea-based Hanwha Energy will develop, construct, and operate a USD 140 million solar farm by 2021.

Under the terms of the Power Purchase Agreement, Hanwha Energy will operate this 52MW photovoltaic power plant and a 208MWh Energy Storage System (ESS) for 20 years.

[Read more…] about Hanwha Energy extends its reach across the Pacific with Hawaii energy project

Hanwha Q Cells is No.1 in German solar module market

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Hanwha Q Cells Co., Ltd., one of the largest solar cell and module manufacturers in the world, achieved top market share in Germany’s solar module market in 2018, according to the survey, Global PV InstallerMonitor 2018/2019 by EuPD Research.

According to the International Energy Agency (IEA), Germany’s electricity production from solar energy accounted for 6.1% of the total electricity generation in 2017, while electricity production from renewable sources reached 33.6%.

In 2018, renewables overtook coal to become Germany’s main energy source, supplying just over 40% of electricity production according to research from Fraunhofer.

[Read more…] about Hanwha Q Cells is No.1 in German solar module market

Hanwha claims to be Japan’s leading solar modules supplier

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Hanwha Q Cells Japan claims it is now “the leading solar module supplier in Japan”, with 770 MW of module shipments in 2017.

Hanwha, which is headquarted in South Korea, says this growth builds upon a strong showing for Hanwha Q Cells Japan in 2016, when the company was the second largest module supplier with 700 MW of shipments.

Hanwha Q Cells Japan first entered the Japanese solar market in 2011. In 2012, the company delivered a relatively modest 50 MW of modules, before rising to become the leading overseas player in 2013 with shipments of 500 MW.  [Read more…] about Hanwha claims to be Japan’s leading solar modules supplier

Hanwha presents ‘Solar Forest’ project to United Nations

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South Korean industrial giant Hanwha has made a presentation at the United Nations in which it explained more about its so-called “Solar Forest” project. 

Hanwha claims to be “the world’s leading solar energy solutions provider”, and established its Solar Forest project in 2011.

Since then, Hanwha claims to have planted 490,000 trees in six new forests in China, Mongolia, and South Korea.  [Read more…] about Hanwha presents ‘Solar Forest’ project to United Nations