INEOS and Hyundai to explore new opportunities in the hydrogen economy

Multinational chemicals company INEOS and Hyundai Motor Company will explore new opportunities for the production, supply and deployment of hydrogen as part of a new partnership.

The two companies today (23rd Nov) signed a Memorandum of Understanding for the collaboration which will also look to utilise Hyundai’s fuel cell system in INEOS’ recently announced Grenadier 4×4 vehicle.

In a statement, the companies said they will initially seek to facilitate public and private sector projects focused on the development of a hydrogen value chain in Europe.

“INEOS’ move into the development of a fuel cell electric vehicle and hydrogen ecosystem marks yet another milestone towards sustainable and clean transportation,” said Saehoon Kim, Senior Vice-President and Head of Fuel Cell Centre at Hyundai Motor Company.

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