- Hyundai Motor Company's investment in Hydrogenious LOHC Technologies sets the stage for joint business development and technology cooperation.
- The joint activities focus on the application of LOHCtechnology in large-scale hydrogen logistics andon-board LOHC solutions.
- The cooperation aims to expand LOHC-based infrastructure in Asiaand in Europe.
Erlangen, Germany / Seoul, South Korea,04. June 2020 –Hyundai Motor Company’s investment in Hydrogenious LOHC Technologies GmbH in May2020 is the beginning ofa comprehensive cooperation between the two companies. The investment is connected with ajoint technology and businessdevelopmentagreement for stationary and on-board LOHC-systems.
With the participation in Hydrogenious LOHC Technologies, Hyundai Motor Company plans to deploy and marketLiquid Organic Hydrogen Carrier (LOHC) technology. The joint marketing and business development activities will initially focus on South Korea. “We are committed to demonstratingthe benefits of LOHCtechnology 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,” explains Yunseong Hwang, VP of Open Innovation Investment Group at Hyundai Motor Company. After an initial phase, both parties plan to extend the cooperationand 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, jointtechnology development will be an important pillar of the collaboration.
Hydrogenious LOHC Technologies isproud to join forces with Hyundai Motor Company. “Wewelcome Hyundai asa new shareholder as well as a commercial and technology partner. Both companiesshare a vision of a low emission hydrogen-powered economy. Hyundai Motor Company is one of the leading global corporations advancinghydrogen mobility. I look forward to working with the Hyundai team to further developour LOHC technology that is the most efficient solution for safely handling hydrogen”, states Daniel Teichmann, CEO of Hydrogenious LOHC Technologies.
Captions:
Hydrogen LOHC ReleaseBOX.jpg
Hydrogen LOHC ReleaseBOX at the company site of Hydrogenious LOHC Technologies GmbH in Erlangen, Germany (Source: Hydrogenious LOHC Technologies GmbH)
LOHC-hydrogen infrastructure USA.jpg
The first steps towards a global LOHC hydrogen infrastructure: Setting up Hydrogenious LOHC Technologies facilities in the USA (Source: Hydrogenious LOHC Technologies GmbH)
About the LOHC-Technology Hydrogen will play an important role in the low-carbon energy demand of the future. Storing hydrogen by using an oil type fluid as the Liquid Organic Carrier enables safe and efficient handling within the existing fuel infrastructure. Hydrogenious’ LOHC technology enables to store hydrogen produced in geographic locations with a surplus of renewable energy, and to efficiently transport the hydrogen to consumers that either demand renewable energy or hydrogen as valuable feedstock.
Link to company video
About Hydrogenious LOHC Technologies GmbH
Hydrogenious LOHC Technologies GmbH was established in 2013 as a spin-off of Friedrich-Alexander-Universität Erlangen-Nürnberg with the aim to develop the LOHC technology. Today, Hydrogenious LOHC Technologies GmbH is backed by investors AP Ventures,Royal Vopak, Covestro, Mitsubishi Company, Winkelmann Group and Hyundai Motor Company. Together with industrial partners including Frames, Clariant, Eastman Chemicals and MAN, Hydrogenious LOHC Technologies is very well positioned to successfully introduce a LOHC-based hydrogen infrastructure into the global market. Hydrogenious LOHC Technologies has more than 80 employeesand is based in Erlangen, Germany. It isa global leader in the field of hydrogen storage technologies based on Liquid Organic Hydrogen Carriers (LOHC). The company designs and builds plants used for hydrogen logistics and hydrogen refueling stations.www.hydrogenious.net
Established in 1967, Hyundai Motor Company offers a range of world-class vehicles and mobility services in more than 200 countries. Hyundai Motor sold more than 4.4 million vehicles globally in 2019, and currently employs some 120,000 personnel worldwide. The company is enhancing its product lineup with vehicles designed to help usher in a more sustainable future, while offering innovative solutions to real-world mobility challenges. Through the process Hyundai aims to facilitate ‘Progress for Humanity’ with smart mobility solutions that vitalize connections between people and provide quality time to its customers.More information about Hyundai Motor and its products can be found at:http://worldwide.hyundai.comor http://globalpr.hyundai.com
