New Business Development
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Bio ship oil is a fuel for ships created from animal and plant fats and by-products. Not only does it seldom produce sulfur oxide emissions, but it also qualifies to be recognized for carbon neutrality based on its LCA (Life Cycle Analysis), making it the best fit for compliance with the International Maritime Organization’s fuel regulations (IMO2020).
At SK eco prime, we completed the development of a new product in preparation for the adoption of bio ship oil in Korea. We also strive to ensure stability across the value chain in procuring materials and international distribution.
| Before 2020 | After 2020 |
| Sulfur content: 3.5% | Sulfur content: 0.5% |
HVO (Hydro-treated Vegetable Oil) is a next-generation biodiesel fuel that can completely replace existing petroleum fuels by adding hydrogen to animal and vegetable fats. It is an eco-friendly fuel that can be used for aviation as well as for vehicle applications.
Regarding the aviation industry in particular, since the International Civil Aviation Organization (ICAO) adopted the Carbon Offsetting and Reduction Scheme (CORSIA) for international aircraft, 88 countries including South Korea are now subject to those regulations. Starting in 2027, these countries must implement their mandatory reduction plans.
At SK eco prime, we are conducting industry-academic collaborative R&D to acquire HVO production technologies. We are also considering joint plant and equipment investments along with leading partners in Korea and abroad.