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Modec ( (JP:6269) ) just unveiled an announcement.
MODEC, in collaboration with Toyo Engineering Corporation, has secured Approval in Principle (AiP) from the American Bureau of Shipping for a Blue Ammonia Floating Production Storage and Offloading unit. This innovative development, which integrates carbon capture and storage to minimize CO2 emissions, marks a significant step forward in the energy transition by using blue ammonia as an alternative fuel. The initiative combines MODEC’s expertise in FPSO design with Toyo’s proficiency in ammonia production, positioning the company to advance sustainable energy solutions and contribute to the decarbonization of the global energy supply chain.
More about Modec
MODEC is a leading provider of floating production solutions, particularly Floating Production Storage and Offloading (FPSO) vessels, serving the offshore oil and gas industry globally. The company engages in Engineering, Procurement, Construction, and Installation (EPCI) activities for FPSOs and operates its own vessels to offer comprehensive oil and gas production services.
YTD Price Performance: -2.05%
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $1.39B
See more data about 6269 stock on TipRanks’ Stock Analysis page.
