GS E&C partners with Honeywell to drive digital transformation of energy plants

GS E&C President and CEO Huh Yoon-hong, right, poses with Honeywell Industrial Automation President and CEO Lucian Boldea in Seoul, Wednesday, after signing a memorandum of understanding for cooperation on digital transformation of energy plants and carbon emission reduction technologies for the facilities. Courtesy of GS E&C

Major construction company GS E&C has partnered with smart technology solutions developer Honeywell to bolster its capability for the digital transformation of existing energy plants, marking its advancement to the environmental business in the energy plant industry.

On Wednesday, Huh Yoon-hong, president and CEO of the Korean company, met with Lucian Boldea, president and CEO of Honeywell Industrial Automation — a division of the U.S.-based conglomerate — in Seoul, where the two signed a memorandum of understanding (MOU).

Under the MOU, the two companies will cooperate on introducing technologies to transition the operation of existing energy plants to digital management. Key goals include reducing carbon emissions and maximizing efficiency in energy use at the facilities.

Following the MOU, GS E&C said that it may adopt licensed technologies from Honeywell UOP, a Honeywell subsidiary specializing in smart solutions for refineries and gas and petrochemical plants. The Korean company added that the two firms will jointly invest in developing methods to make existing plants “smarter” through the use of artificial intelligence (AI).

GS E&C highlighted that Honeywell provides smart solutions in various fields, including industrial automation, energy and aerospace. The American company, according to GS, has been providing solutions to Korean firms for digital transformation and sustainable growth in the fields of semiconductors, energy and smart buildings.

GS said its partnership with Honeywell came after its “many years” of engineering, procurement and construction (EPC) portfolio within the petrochemical industry.

A GS E&C official said the company’s partnership with Honeywell signifies its “debut in the eco-friendly energy business.”

“Under the partnership, our company will boost the digital transformation of energy plants and plant construction solutions,” the official said.

The construction company launched its Plant Division last year by merging its power generation, environmental and renewable energy businesses. It said it has been actively engaging in renewable and eco-friendly energy businesses based on its accumulated EPC capabilities in the petrochemical industry.