Hyundai Motor-Hyundai Electric Collaborate on Development of Hydrogen Fuel Cell Package for Power Generation

Development and Commercialization of Hydrogen Fuel Cell-Based Packages in Mobile Generator Market Dominated by Diesel Generators
Applied to Mobile Generators and Port Land Power Supply Devices

[Asia Economy Reporter Yu Je-hoon] Hyundai Motor Company is partnering with Hyundai Electric to develop and commercialize hydrogen fuel cell packages for power generation.

On the 29th, Hyundai Motor announced that it held a signing ceremony for a Memorandum of Understanding (MOU) on the commercialization of hydrogen fuel cell packages for power generation, attended by key figures including Kim Se-hoon, Vice President of the Fuel Cell Business Division, and Cho Seok, CEO of Hyundai Electric.

This agreement aims to develop a hydrogen fuel cell system package for power generation based on the fuel cells (PEMFC) applied in Hyundai vehicles, and to supply electricity to various locations in need by utilizing it in mobile generators or onshore power supply units at ports.

In particular, the two companies plan to supply hydrogen fuel cell-based power generation systems in the mobile generator market, which is mainly dominated by diesel generators, thereby promoting eco-friendly hydrogen energy across various industrial sectors such as construction sites and port facilities.

To this end, Hyundai Motor will be responsible for supplying fuel cell systems and providing technical support, while Hyundai Electric, under the Hyundai Heavy Industries Group, will handle the development of power generation packages equipped with fuel cells and the development of business models applying these to mobile generators and onshore power supply units at ports.

Vice President Kim said, "We hope that the two companies can strengthen their collaboration in the eco-friendly power generation sector to contribute to carbon reduction, which has become a global issue recently," adding, "Hyundai Motor will leverage its world-class hydrogen fuel cell technology to enter various industrial fields and help realize the hydrogen economy at an early stage."

CEO Cho also stated, "This agreement is the first step in pioneering the eco-friendly hydrogen power generation market in cooperation with Hyundai Motor, which leads the global mobility hydrogen fuel cell market," and added, "Hyundai Electric will develop various new business models based on accumulated technology and know-how, creating a green wave in the power market and making it a pillar of Environmental, Social, and Governance (ESG) management."