Hyundai Motor Company invests in Hydrogenious LOHC Technologies
June 04, 2020
Hyundai Motor Company’s investment in Hydrogenious LOHC Technologies GmbH in May 2020 is the beginning of a comprehensive cooperation between the two companies. The investment is connected with a joint technology and business development agreement for stationary and on-board LOHC-systems.
With the participation in Hydrogenious LOHC Technologies, Hyundai Motor Company plans to deploy and market Liquid Organic Hydrogen Carrier (LOHC) technology. The joint marketing and business development activities will initially focus on South Korea. “We are committed to demonstrating the benefits of LOHC technology to both government and end users. Our goal is to establish LOHC as hydrogen vector within the broader South Korean ambitions of building a national hydrogen infrastructure,” explains Yunseong Hwang, VP of Open Innovation Investment Group at Hyundai Motor Company. After an initial phase, both parties plan to extend the cooperation and to merge with Hyundai’s hydrogen activities in Europe.
Hyundai is a driving force for the build-up of hydrogen refueling infrastructure in both Asia and Europe. The South Korean company considers LOHC as a promising technology for hydrogen logistics and storage at refueling stations. Therefore, beside the business development activities, joint technology development will be an important pillar of the collaboration.
Hydrogenious LOHC Technologies is proud to join forces with Hyundai Motor Company. “We welcome Hyundai as a new shareholder as well as a commercial and technology partner. Both companies share a vision of a low emission hydrogen-powered economy. Hyundai Motor Company is one of the leading global corporations advancing hydrogen mobility. I look forward to working with the Hyundai team to further develop our LOHC technology that is the most efficient solution for safely handling hydrogen”, states Daniel Teichmann, CEO of Hydrogenious LOHC Technologies.
About Hyundai Motor Company
Established in 1967, Hyundai Motor Company offers a range of world-class vehicles and mobility services in more than 200 countries. Hyundai Motor sold more than 4.4 million vehicles globally in 2019, and currently employs some 120,000 personnel worldwide. The company is enhancing its product lineup with vehicles designed to help usher in a more sustainable future, while offering innovative solutions to real-world mobility challenges. Through the process Hyundai aims to facilitate ‘Progress for Humanity’ with smart mobility solutions that vitalize connections between people and provide quality time to its customers.