Global partnership to focus on hydrogen technology

Hyundai and INEOS have signed a memorandum of understanding to explore new opportunities in hydrogen vehicles.

Hyundai and INEOS will jointly investigate opportunities for the production and supply of hydrogen as well as the worldwide deployment of hydrogen applications and technologies.

Both companies will initially seek to facilitate public and private sector projects focused on the development of a hydrogen value chain in Europe.

Saehoon Kim, senior vice president and head of Fuel Cell Center at Hyundai, said: “INEOS’ move into the development of a fuel cell electric vehicle and hydrogen ecosystem marks yet another milestone towards sustainable and clean transportation.

“Hyundai believes this will provide an important low-carbon option across a wide range of sectors. We also hope our decades-long expertise in hydrogen fuel cell work in synergy with INEOS’ expertise in field of chemistry to realize the mass production of green hydrogen and fuel cells for the Grenadier.”

INEOS recently launched a new business to develop and build clean hydrogen capacity across Europe in support of the drive towards a zero-carbon future. The company currently produces 300,000 tons of hydrogen a year.”