Hyundai Motor Company revealed that it has invested in Hydrogenious LOHC Technologies GmbH in May 2020. This 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,” explained 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.
“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,” stated Daniel Teichmann, CEO of Hydrogenious LOHC Technologies.