MODEC, Inc. (“MODEC”) announced today the signing of an agreement with Eld Energy AS (“Eld Energy”), a Norwegian fuel cell system company, to jointly develop an integrated 120 kW solid oxide fuel cell (“SOFC”) and CO₂ capture system (Patent Pending) for FPSOs (Floating Production, Storage and Offloading systems). The joint development agreement covers prototype design and manufacturing for a low carbon offshore power solution, with onshore operational testing planned by 2027 and offshore demonstration targeted commence from 2028 onward.

MODEC and Eld Energy have advanced the joint design and manufacturing of a pilot scale 40 kW SOFC offshore power system since 2025, utilizing associated natural gas produced in FPSO production, building on the intrinsic advantages of SOFCs—higher efficiency and lower emissions than conventional offshore power sources such as gas turbine generators (GTGs).

The newly signed agreement scales the SOFC output from 40 kW to 120 kW, marking an important step toward phased deployment on FPSOs. In addition, the SOFC will integrate a CO₂ capture and fuel recovery unit optimized for SOFC exhaust. The development agreement aims to deliver a scalable multi-MW power system capable of meeting the full power demand of FPSOs with zero carbon intensity. These initiatives are expected to steadily enhance both the environmental performance and operational value of FPSOs.

Going forward, MODEC will continue to contribute to the society by supporting a stable energy supply and reducing CO₂ emissions on FPSOs, in response to growing energy demand and the imperative of a sustainable future.