Hyundai Motor Company announced key investments into three companies – among them GRZ Technologies – to strengthen its leadership position in the global hydrogen fuel cell ecosystem.
The strategic investments come at a time of heightened demand for fuel cell technology. The collaboration with industry leading players will enable Hyundai to expand its hydrogen infrastructure and enhance the efficiency of its fuel cell electric vehicle (FCEV) manufacturing.
Hyundai Motor is a world leader in the development of hydrogen fuel cell technology. It became 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. Hyundai’s second-generation FCEV, the NEXO, has a range of over 609 kilometers and emits clean water vapor and purifies the air while driving.
“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”, said Youngcho Chi, President and Chief Innovation Officer at Hyundai Motor Group.
GRZ Technologies is a company based in Sion specializing in energy storage in hydrogen form. 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 commercialize hydrogen infrastructure for greater accessibility to customers.
(Press release / SK)
Picture: Hyundai (NEXO)
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