May 25, 2020

Hyundai Invests In Hydrogen Technology Companies

The Hyundai Nexo Hydrogen Fuel Cell Vehicle
The Hyundai Nexo Hydrogen Fuel Cell Vehicle

Hyundai Motor Company has announced key investments in three hydrogen companies – Impact Coatings, H2Pro and GRZ Technologies.

Impact Coatings is a leading supplier of PVD-based coating solutions for fuel cells, offering coating materials, machines, and services. Under the new joint development agreement, Hyundai and Impact Coatings will 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 E-TAC (electrochemical, thermally active chemical) water splitting technology. H2Pro’s technology will, says Hyundai, allow it 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 based in Switzerland and 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 says these investments will enable it to expand its hydrogen infrastructure and enhance the efficiency of its fuel cell electric vehicle (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.”

Hyundai HDC-6 Neptune Concept truck
Hyundai HDC-6 Neptune Concept truck

Coincidentally, at the recent North American Commercial Vehicle (NACV) Show, Hyundai revealed the HDC-6 Neptune Concept Class 8 heavy duty truck – a futuristic-looking fuel cell electric truck that, according to SangYup Lee, Head of Hyundai Design Center, “. . . embodies Hyundai Motor’s vision of mobility for a global hydrogen society, innovatively developed applying Hyundai designers’ creativity and the company’s advanced technology.”

Hyundai is providing 1600 fuel cell electric trucks to the Swiss commercial vehicle market, beginning 2019 through to 2023 and the company says the U.S. market is an important next phase of the company’s FCEV 2020 vision.