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Moorim P&P Installs New Eco-Friendly Heat Recovery Steam Generator
Moorim, a comprehensive pulp, paper, and new material company, is accelerating its ESG management by strengthening differentiated eco-friendly systems for each business site. Moorim Paper’s Jinju Factory has established a ‘chimneyless factory’ system by closing its bunker-C oil steam generator and using steam from cogeneration facilities, while Moorim SP’s Daegu Factory became the first factory in the paper industry to replace bunker-C oil with liquefied natural gas (LNG), a cleaner fuel, in 1997 to minimize air pollutants.
In addition, earlier this May, Moomin P&P announced that it will invest about KRW 280 billion to build a new ‘eco-friendly heat recovery steam generator’ at its Ulsan Factory, once again suggesting an alternative for sustainable management. Moorim P&P is the only company in Korea that produces pulp, the raw paper material, and converts ‘black liquor,’ a biomass fuel generated in the pulp production process, into renewable energy such as steam and steam to produce paper and other products. The eco-friendly heat recovery steam generator (eco-friendly boiler) is a core facility that plays a pivotal role in converting black liquor to green energy.
Through this investment, Moorim P&P will produce pulp and paper without using any fossil fuels and reduce greenhouse gas emissions by about 870,000 tons per year. The factory is widely known as a leading eco-friendly factory in the paper industry and produces the only Ministry of Environment-certified low-carbon paper in Korea.
In particular, the new eco-friendly boiler that will be introduced is equipped with the latest performance and outstanding efficiency and can produce about twice as much energy as the existing boilers. This will dramatically reduce greenhouse gases, and the energy cost savings alone is expected to reach about KRW 31.8 billion per year.
In consideration of the positive effects of combating the climate crisis and increasing productivity, Moorim P&P has decided to make a bold investment in installing a new eco-friendly boiler and is in close consultation with external experts with the aim of starting construction in the second half of this year.
“Based on our pulp competitiveness and stable cash flow, the installation of the new eco-friendly boiler is expected to proceed smoothly,” said an official from Moorim P&P, who added that once completed, the boiler was expected to bring tangible and intangible positive effects, such as cost reduction and environmental protection. Meanwhile, Moorim P&P had KRW 102.1 billion in cash and cash equivalents at the end of the first quarter and recorded KRW 196 billion and KRW 14.3 billion in sales and operating profit in the first quarter, respectively.
Moomin P&P will go one step further and actively consider selling surplus energy. The company is planning to use the energy generated by the new eco-friendly boiler to run the internal factory and promote the environmental value of black liquor to create added value and develop sales to companies that require such energy.
The industry expects the introduction of Moorim P&P’s new eco-friendly boiler to be a major advanced case of ESG management. It is expected to be a new alternative for sustainable management by using resources from the production process as its own energy source and exploring various uses to contribute to net zero while generating economic benefits.