Hyundai Motor expands ties with hydrogen technology firms

Hyundai Motor, Korea’s biggest carmaker by sales, said Wednesday it will invest in three hydrogen companies in its latest move to boost competitiveness in hydrogen fuel-cell electric vehicles.

The three companies are Sweden’s Impact Coatings AB, Israel’s H2Pro and Switzerland’s GRZ Technologies. Hyundai Motor expects its partnerships with them to help accelerate hydrogen technology development, the company said in a statement.

“Our investment in these innovative companies will reduce the production cost of fuel-cell electric vehicles and enhance the safety and affordability of hydrogen infrastructure,” said Chi Young-cho, president and chief innovation officer at Hyundai Motor Group.

Impact Coatings is a leading supplier of physical vapor deposition-based coating solutions for fuel cells. The Swedish firm’s ceramic coatings are a cost-efficient substitute for the precious metals used in fuel cell production, the statement said.

Hyundai Motor and Impact Coatings will jointly research and develop a new generation of solutions for fuel cells, it said. H2Pro, an Israeli startup, has developed an electrochemical, thermally active chemical (E-TAC) water splitting technology that is efficient, affordable and safe.

The E-TAC technology will help Hyundai Motor lower the cost of hydrogen vehicle production, the company said. GRZ Technologies has expertise in hydrogen energy storage. Its technology stores hydrogen more safely at lower pressure with higher density.