Launched at the 2021 United Nations Climate Change Conference, COP26, the JDP was one of two signed by KSOE and ABS, with a second focused on developing technical guidance for green hydrogen production from offshore platforms as a key first step to the design and construction of a facility by 2025. The offshore green hydrogen production platform, which has also received ABS AIP, will be linked to renewable power sources on land as a near-shore concept, as well as a variety of offshore wind power. It will offer several options, including hydrogen liquefaction, ammonia and methanol conversion to hydrogen power systems, to address a variety of hydrogen sources and transportation methods.

The deal expands the company’s footprint in the life sciences sector and its geographical reach in the eastern and western parts of North America.

Sungjoon Kim, HHI Group Chief Technology Officer, said: “HHI Group plays a key role in the development of green hydrogen and CO2 injection platforms for new markets in the carbon-neutral era.  Based on HHI group’s differentiated offshore platform technology accumulated over a long period of time, we have developed an offshore green hydrogen production/carbon dioxide injection platform.”

The acquisition expands SyBridge's capabilities to offer complex precision tooling products for the life sciences and other target industries. As a part of a larger organization, Pyramid will leverage SyBridge’s design, engineering, supply chain, and production capabilities to better serve and grow with its customers.

"Pyramid is a terrific company and represents a significant step in SyBridge's journey to build a leading franchise in life sciences manufacturing solutions," said Tony Nardone, CEO of SyBridge. "With this acquisition, SyBridge’s Life Sciences Business Unit now has a strong presence on both the eastern and western parts of North America to better serve our customers. Going forward, our strategy will be to continue to grow our life sciences customer base through organic growth and selective acquisitions to expand SyBridge’s capabilities and geographies."

Pictured at the AIP signing are John McDonald, ABS Executive Vice President and Chief Operating Officer, and S.Y. Park, Hyundai Heavy Industries Senior Executive Vice President, Chief Operating Officer and Head of Group Ship/Offshore Marketing Division.

ABS has awarded AIP to the carbon dioxide injection platform developed by HHI Group to store carbon dioxide that has been captured on land, liquefied at high pressure and transported to the sea through a carrier or pipeline in the seabed. HHI Group has developed this platform with the goal of storing annually 400,000 tons of carbon dioxide underground in Korea’s East Sea gas field starting in 2025.  The AIP was presented at the Offshore Technology Conference.

Global industrial technology company SyBridge Technologies announced today that it has completed the acquisition of Pyramid Mold and Tool, further expanding its footprint in the life sciences end markets. New York–based private equity firm Crestview Partners said in the news release that it established SyBridge in 2019 and committed $200 million of equity to create a market leading value-added manufacturing solutions provider spanning across end-markets, geographies, and advanced technologies. Pyramid is SyBridge’s fifth acquisition in the last 10 months.

“Carbon capture is a game-changing technology with a key role to play in reducing greenhouse gas emissions. ABS is committed not only to supporting the development of the infrastructure such as this platform but the vessels that will prove critical to the value chain as well, with a laser focus on safety,” said Peter Fitzpatrick, ABS Senior Vice President, Global Offshore.

(HOUSTON) A pioneering joint development project (JDP) to advance carbon-reduction technologies between ABS and Hyundai Heavy Industries Group (HHI Group) has taken a significant step forward by securing Approval in Principle (AIP).

Located in Rancho Cucamonga, CA, Pyramid manufactures precision multi-cavity plastic injection molding tools with an emphasis on the life sciences industry. Founded in 1995, Pyramid specializes in tight-tolerance, high-cavitation molds and complex multi-shot, stack, liquid silicone rubber, and proof-of-concept prototype tools.