Hyundai Accelerates Hydrogen Technology DevelopmentNovember 1, 2019
Hyundai Motor has announced key investments in three companies – Impact Coatings, H2Pro and GRZ Technologies – to strengthen its leadership in the global ecosystem of hydrogen fuel cells.
The Korean company decided to make strategic investments in the development of hydrogen technologies during a period of increased demand for new fuel cells. Collaboration with industry leaders will enable Hyundai to expand its hydrogen infrastructure and increase the efficiency of its production of fuel cell electric vehicles (FCEV).
“Our investment in these innovative companies will reduce the cost of FCEV and increase the safety and availability of hydrogen infrastructure. We hope to accelerate the widespread adoption of hydrogen technology by making FCEV more accessible to our customers, ”said Youngcho Chi president and chief innovation officer, Hyundai Motor Group.
Impact Coatings AB is a leading provider of PVD1 fuel cell application technology. The Swedish company’s ceramic coatings are a cost-effective substitute for precious metals used in the manufacture of 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 various applications, including fuel cells and hydrogen production.
H2Pro is an Israeli startup that has developed the E-TAC (Electrochemical, Thermally Active Chemical) water splitting technology, which is efficient, affordable and safe. H2Pro technology will allow Hyundai to reduce the cost of producing hydrogen, which in turn will lead to lower hydrogen prices for customers. This is Hyundai’s second startup investment since Hyundai CRADLE Tel Aviv first announced a partnership in November 2018.
GRZ Technologies is a Swiss company specializing in storing energy in hydrogen form. Its technology provides safer storage of hydrogen at lower pressure and higher density, while patented compression technology is also more affordable. Hyundai’s agreement with GRZ will accelerate the company’s efforts to implement a hydrogen infrastructure for greater customer accessibility.
Hyundai Motor is a world leader in the development of hydrogen fuel cell technology. The company became the first car manufacturer in the world to start selling fuel cell electric vehicles with the ix35 (also known as Tucson Fuel Cell) in 2013.
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