Korean engineering major Samsung Engineering, and integrated energy firm OMV, have announced the signing of an MoU to jointly develop sustainable projects based on modularization.
The MoU was signed at the OMV headquarters in Vienna, Austria, by Martijn van Koten, an executive board member of OMV and EVP Fuels & Feedstock, and Hong Namkoong, president and CEO of Samsung Engineering, the Korean major wrote in a statement.
Samsung Engineering’s extensive experience in executing projects based on modularisation was a key factor for reaching this MoU, it added.
OMV, an Austrian industrial companies, is committed to becoming a net-zero emissions company (Scopes 1, 2, and 3) latest by 2050. OMV has embarked on a transformation to become a leading provider of innovative and sustainable fuels, chemicals and materials, with a focus on circular economy solutions.
This strategy is aligned with Samsung Engineering’s ambitions to contribute to the energy transition, by starting to take key initiatives for the decarbonization of its operations, whereby it has launched projects in the direction of low-carbon businesses, Samsung said.