Ineos Grenadier with fuel cell
Hyundai and Ineos cooperate on hydrogen
Hyundai and Ineos want to advance hydrogen technology together. This should also help the off-road vehicle newcomer Grenadier with a fuel cell.
On November 23, 2020, the companies Ineos and Hyundai agreed to cooperate in hydrogen technology with a “Memorandum of Understanding”. Ineos is one of the world’s largest chemical groups with annual sales of around 61 billion US dollars, according to its own figures.
The Hyundai Group, the world leader alongside Toyota in fuel cell technology for passenger cars, currently offers the Nexo, the only mass-produced fuel cell SUV, also in Germany. As things stand, Hyundai plans to increase hydrogen fuel cell production to 700,000 units per year by 2030.
The Ineos Grenadier is also to run on fuel cell technology thanks to Hyundai.
The cooperation between the two major groups is to be divided according to expertise: Hyundai will contribute the know-how in the field of fuel cell technology and its implementation in car manufacturing, while Ineos is to take care of the expansion of hydrogen supply. Ineos recently established a new company to develop and build “green” hydrogen capacity across Europe. Ineos says it currently produces 300,000 metric tons of hydrogen per year, but currently mainly as a byproduct of chemical production.
Ineos and Hyundai complement each other
Ineos subsidiary Inovyn is currently Europe’s largest operator of electrolysis processes to produce hydrogen by electricity, according to Ineos. Electrolysis plays an important role in sustainable hydrogen production because it means that the hydrogen gas is not produced from processing fossil sources, but ideally via renewable energies such as wind or solar power.