Korean carmaker, Hyundai Motor Company is betting big on hydrogen as it sees heightened demand for fuel cell technology. The company has announced key investments in three hydrogen companies – Impact Coatings, H2Pro and GRZ Technologies – to strengthen its leadership position in the global hydrogen fuel cell ecosystem.
The company says the strategic investments come at a time of heightened demand for fuel cell technology, and the collaboration with industry leading players will enable it to expand its hydrogen infrastructure and enhance the efficiency of its fuel cell electric vehicle (FCEV) manufacturing.
Youngcho Chi, president and Chief Innovation Officer, Hyundai Motor Group said, “Our investment in these innovative companies will reduce the production cost of FCEVs and enhance the safety and affordability of hydrogen infrastructure. We hope to accelerate the widespread adoption of hydrogen technology by making FCEVs more accessible for our customers.”
Impact Coatings AB is a leading supplier of PVD (Physical Vapour Deposition)-based coating solutions for fuel cells, offering coating materials, machines, and services. The Swedish company’s ceramic coatings are cost-efficient substitutes for precious metals used in fuel cell production. 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.
H2Pro is an Israeli startup that developed the E-TAC (electrochemical, thermally active chemical) water splitting technology, which is efficient, affordable, and safe. H2Pro’s technology will allow Hyundai to lower the cost of hydrogen production, which will in turn reduce the price of hydrogen for customers. This marks Hyundai’s second investment into the start up since Hyundai Cradle Tel Aviv first announced the partnership in November 2018.
GRZ Technologies is a company based in Switzerland specialising in energy storage in hydrogen form. Its technology stores hydrogen more safely at lower pressure with higher density, while its proprietary compression technology is also more affordable. Hyundai’s agreement with GRZ will accelerate the company’s efforts to commercialise hydrogen infrastructure for greater accessibility to customers.
Hyundai Motor is a leading player in the development of hydrogen fuel cell technology, and was the world’s first automaker to commercialise fuel-cell electric vehicles with the introduction of ix35 Fuel Cell (also known as Tucson Fuel Cell) in 2013. Hyundai’s second-generation FCEV, the Nexo, has a range of over 609 kilometres and emits clean water vapour and purifies the air while driving.