Novarc Technologies Inc. announced the signing of a Memorandum of Understanding (MoU) with Hanwha Ocean, a world-class shipbuilder specializing in commercial vessels, offshore plants and naval ships. The MoU is significant as a proposed strategic research collaboration framework that connects Hanwha Ocean with Novarc?s expertise in welding automation and AI-enabled manufacturing technologies for advanced shipbuilding applications. Under the MoU, the two companies will work together to collaborate on the development of AI-powered manufacturing processes designed to enhance production efficiency and precision within the maritime sector.

The collaboration aims to leverage Novarc?s breakthrough AI and vision automation solutions specifically for the demanding requirements of commercial and naval shipbuilding. The landmark event brought together approximately 100 organizations - including senior Canadian and Korean government officials, academic leaders, and defence and marine industry executives - with the goal to explore long-term collaboration across maritime innovation, Arctic technologies, advanced manufacturing, energy, critical minerals, artificial intelligence, and digital infrastructure. As part of BC Innovation Day, Hanwha Ocean and affiliated Hanwha companies announced a series of Memorandums of Understanding (MOUs) and collaborative research initiatives with Canadian companies, universities, and research institutions.