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Hyundai Motor and Hyundai Electric Sign MOU to Develop Hydrogen Fuel Cell Package for Power Generation
SEOUL, July 29, 2021 – Hyundai Motor Company today announced that it has signed a Memorandum of Understanding (MOU) with Hyundai Electric & Energy Systems Co. (Hyundai Electric), a leading electrical equipment manufacturer and energy solution provider, to develop a hydrogen fuel cell package for mobile power generation.
The MOU signing took place via online, attended by Saehoon Kim, Head of Hyundai Motor Group Fuel Cell Center, and Seok Cho, President and CEO of Hyundai Electric.
The endeavor combines Hyundai Motor’s decades-long fuel cell experience and Hyundai Electric’s power equipment expertise. Under the MOU, the two parties will develop a hydrogen fuel cell package dedicated for mobile power generators and alternative maritime power (AMP) supply solutions, based on Hyundai Motor’s polymer electrolyte membrane fuel cell (PEMFC) system that is used in Hyundai Motor’s fuel cell vehicles.
The new fuel cell-based package system is expected to be a game changer in the mobile generator market, which is currently dominated by diesel generators. Environmentally-friendly, distributed power solutions like the one planned can address carbon-neutral electric needs in a variety of industrial sectors such as port facilities, construction sites and industrial complexes.
Under the agreement, Hyundai Motor will supply PEMFC fuel cell systems and provide technical support while Hyundai Electric will develop and commercialize a fuel cell-based power generation package which includes mobile generators and AMP supply systems. Hyundai Electric will also explore a variety of business models for marketing the new package in Korea and abroad.
“This MOU underlines the importance of providing carbon-neutral solutions in power generation applications in order to accelerate the establishment of a sustainable hydrogen society,” said Saehoon Kim, Executive Vice President and the Head of Fuel Cell Center of Hyundai Motor Group. “Hyundai Motor will continue to expand the potential of hydrogen fuel cell technology beyond mobility applications and into the power generation market.”
Hyundai Motor Group, the parent of Hyundai Motor Company, also recently introduced ‘HTWO’, a new brand representing the Group’s world-leading hydrogen fuel cell system.
