Hyundai Motor Company has strengthened its position in the global hydrogen fuel cell ecosystem by investing in three companies.
The automaker has announced it’s investing in Impact Coatings, H2Pro and GRZ Technologies for fuel cell, hydrogen production, and hydrogen storage technologies.
GRZ Technologies is a company based in Switzerland specializing in energy storage in hydrogen form.
H2Pro is an Israeli startup that has developed water splitting technology, which is efficient, affordable, and safe. H2Pro’s technology will allow Hyundai to lower the cost of hydrogen production. This marks Hyundai’s second investment into the startup since Hyundai CRADLE Tel Aviv first announced the partnership in November 2018.
Sweden’s Impact Coatings AB is a leading supplier of coating solutions for fuel cells, offering coating materials, machines, and services.
Youngcho Chi, President and Chief Innovation Officer at Hyundai Motor Group, says: “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.”
Hyundai was the world’s first automaker to commercialize fuel-cell electric vehicles with the introduction of ix35 Fuel Cell (also known as Tucson Fuel Cell) in 2013.