Multinational energy services company Hanwha Solutions is set to enhance its US production portfolio with the announcement that it will build a carbon fibre-based high-pressure tank facility in Opelika, Alabama.

The facility will cost $51m to build and, with completion set for next year, the factory will produce 4,000 high-pressure tanks per year.

Hanwha is also looking to expand its aerospace applications, with storage tanks for hydrogen-powered vehicles, drones and rockets slated for development following further investments leading up to 2025.