Eld Energy and MODEC Sign Memorandum of Understanding to Develop an 1.2 MW Power System with Integrated Carbon Capture for Future Zero-Emission FPSOs

Norwegian energy technology company Eld Energy and Japanese offshore oil & gas production leader MODEC have signed a Memorandum of Understanding to develop a 1.2 MW power plant with integrated carbon capture for floating offshore oil and gas production platforms. The agreement marks a tenfold scale-up from the previous phase of the joint program and represents a decisive step toward large-scale, near-zero emission power generation offshore.

The MOU was signed in Tokyo during the official visit to Japan by His Royal Highness Crown Prince Haakon of Norway. From left: Per Christer Lund, Counsellor Energy & Technology, Norwegian Embassy in Tokyo; Yasushi Ueda, Global Director: Technology & Innovation, MODEC; Hans Fredrik Lindøen-Kjellnes, CEO, Eld Energy; Heidi Dahl, Regional Director Asia, Innovation Norway; Marianne Sivertsen Næss, Norway's Minister of Fisheries and Ocean Policy.

Eld Energy AS ("Eld Energy”)and MODEC, Inc. (“MODEC”) announced the signing of a Memorandum of Understanding (MOU) to develop a highly efficient 1.2MW power system integrated with carbon capture for application on Floating Production, Storage and Offloading systems (FPSOs). Under the MOU, the parties intend that Eld Energy will lead the design, procurement, and construction of the power system based on solid oxide fuel cells (SOFCs), including requisite testing and validation, while MODEC will develop the carbon capture facility and system integration for FPSOs. The 1.2 MW unit is targeted for onshore testing in 2029, followed by long-term demonstration.

Eld Energy and MODEC have collaborated since 2025 on SOFC systems for offshore use, progressively scaling from 40 kW to 120 kW SOFC plus carbon capture pilot. Building on those results, the new phase aims to demonstrate scalability and integrated carbon management for offshore power.SOFCs convert chemical energy directly to electricity at high temperature and can accept multiple fuels. When combined with carbon capture system they offer a practical pathway to deep decarbonization of FPSO power without compromising uptime. Going forward, MODEC will continue to contribute to a stable energy supply while advancing practical emissions reduction solutions on FPSOs.

About Eld Energy

Eld Energy is a Norwegian technology company pioneering high-efficiency, low-emission power systems for offshore and maritime applications. The company has assembled a team of Europe's foremost experts in the design and industrialization of maritime fuel cells with the aim to decarbonize offshore installations and deep-sea shipping.

For further information: https://www.eldenergy.com

About MODEC

MODEC is a leading provider of floating production solutions such as Floating Production Storage and Offloading (FPSO) vessels to the offshore oil & gas industry. MODEC performs Engineering, Procurement, Construction and Installation (EPCI) activities for FPSOs, and further by owning and operating its own FPSOs, it provides oil companies around the world with comprehensive and competitive solutions for oil & gas production services.

For further information: https://www.modec.com