Hoping to accelerate the widespread adoption of hydrogen technology by making fuel cell electric vehicles (FCEVs) more accessible, Hyundai Motor Company is investing in three hydrogen firms.
The South Korean carmaker announced yesterday it was investing in Impact Coatings, H2Pro and GRZ Technologies for fuel cell, hydrogen production and hydrogen storage technologies.
The strategic investments come at a time of heightened demand for fuel cell technology and Hyundai said it hopes the collaboration with industry leading players will enable it to expand its hydrogen infrastructure and enhance the efficiency of its FCEV manufacturing.
“Our investment in these innovative companies will reduce the production cost of FCEVs and enhance the safety and affordability of hydrogen infrastructure,” said Youngcho Chi, President and Chief Innovation Officer at Hyundai Motor Group.
“We hope to accelerate the widespread adoption of hydrogen technology by making FCEVs more accessible for our customers.”
Swedish firm Impact Coatings supplies physical vapour deposition-based coatings for fuel cells.
Under the new joint development agreement, Hyundai and Impact Coatings will jointly research and develop a new generation of materials, processes and equipment for a variety of applications, including fuel cells and hydrogen production.
An Israeli start-up, H2Pro developed the E-TAC (electrochemical, thermally active chemical) water splitting technology.
Hyundai said H2Pro’s technology will allow it to lower the cost of hydrogen production, which will in turn reduce the price of hydrogen for customers.
Specialising in energy storage in hydrogen form, GRZ Technologies is based in Switzerland. It’s technology stores hydrogen more safely at lower pressure with higher density.
Hyundai’s agreement with GRZ will accelerate the company’s efforts to commercialise hydrogen infrastructure for greater accessibility to customers.