Hyundai Engineering has begun a full-fledged move to expand its renewable energy business by winning Front End Engineering Design (FEED) service for renewable fuel production facilities using waste oil in the U.S.
Hyundai Engineering announced on May 10 that it has signed a main contract for basic design services for UrbanX renewable diesel refinery from UrbanX, a U.S. eco-friendly renewable fuel startup.
UrbanX renewable diesel refinery project is to build an oil refinery in Bakersfield, about 150 kilometers north of Los Angeles, California, that produces recycled diesel using waste cooking oil and waste animal fats.
After the project is completed, it is expected to be able to produce 5,300 bbl of recycled diesel, gasoline, and lead thread per day using waste food oil and waste animal fats.
Hyundai Engineering will be in charge of basic design for about nine months, and as the contract was signed in conjunction with the EPC construction contract, it is also expected to win main orders worth about 400 billion won ($360 million) in the future.
It is in the spotlight as an eco-friendly renewable energy technology in that it produces fuel by recycling waste food oil.
In particular, the main product, Renewable Diesel, is a much more advanced form of renewable fuel than Biodiesel, which was used as a conventional fuel additive. It is considered a sustainable eco-friendly fuel that can be used immediately as fuel without additional additives and has far less carbon emissions.
"The basic design of UrbanX renewable diesel refinery business is an achievement based on an active new market development strategy," a company official said. "We proved our company's design capabilities at the global top-tier level through high-quality design. Based on this, we plan to actively participate in renewable energy projects in various fields that will be ordered from countries around the world in the future," he added.
