Hyundai Motor Company and Ineos have announced the signing of a memorandum of understanding to explore new opportunities to accelerate the global hydrogen economy.
Hyundai and Ineos will jointly investigate opportunities for the production and supply of hydrogen as well as the worldwide deployment of hydrogen applications and technologies. Both companies will initially seek to facilitate public and private sector projects focused on the development of a hydrogen value chain in Europe.

The agreement also includes the evaluation of Hyundai’s proprietary fuel cell system for the recently announced Ineos Grenadier 4x4 vehicle. This cooperation represents an important step in Ineos’ efforts to diversify its powertrain options at an early stage.

Hyundai’s proprietary modular fuel cell system, which evaluation vehicles will use, has already proven reliable and effective in the Hyundai Nexo SUV. The world’s first dedicated hydrogen-powered SUV has the longest driving range among hydrogen-powered vehicles in the market. Hyundai is one of leading company in the field of fuel cell technology having started the world’s first mass production of fuel cell electric vehicles in 2013.

“Ineos’ move into the development of a fuel cell electric vehicle and hydrogen ecosystem marks yet another milestone towards sustainable and clean transportation,” said Saehoon Kim, Senior Vice President and Head of Fuel Cell Centre at Hyundai Motor Company.

“Hyundai believes this will provide an important low-carbon option across a wide range of sectors. We also hope our decades-long expertise in hydrogen fuel cell work in synergy with Ineos’ expertise in field of chemistry to realise the mass production of green hydrogen and fuel cells for the Grenadier.”

Peter Williams Technology Director Ineos said The partnership between Ineos and Hyundai provides fresh possibilities for both companies to play a leading role in the clean hydrogen economy. The evaluation of new manufacturing processes, innovations and applications, coupled with our current capabilities, puts us in a unique position to meet the emerging demand for reliable low-carbon energy sources and the needs of demanding 4x4 owners in the future."

Ineos has recently launched a new company to create and build renewable hydrogen capacity across Europe in pursuit of a zero-carbon future. Currently, the company produces 300,000 tonnes of hydrogen per year primarily as a by-product of its chemical manufacturing activities.

Via its subsidiary Inovyn, Ineos is Europe's largest current electrolysis operator, a vital technology that uses renewable energy to generate hydrogen for power generation, transport and industrial use. Its experience in the storage and handling of hydrogen coupled with its proven expertise in electrolysis technology places Ineos in a unique position to accelerate progress towards a carbon-free future based on hydrogen.

Hyundai Motor Group announced in 2018 its mid-to long-term road map, Fuel Cell Vision 2030, to increase the annual capacity of hydrogen fuel cell systems to 700,000 units by 2030.