Hyundai and Ineos team up on hydrogen
Hyundai and Ineos have signed a memorandum of understanding to ‘explore new opportunities to accelerate the global hydrogen economy’.
Ineos, a global manufacturer of petrochemicals, will be able to tap Hyundai for its fuel cell technology, while Hyundai will benefit from Ineos’ experience of hydrogen production and infrastructure. Most of the work will be focused in Europe around the production and supply of hydrogen.
Hyundai’s fuel cell tech will be evaluated for the Ineos Grenadier 4x4 as the firm looks to diversify its powertrain options. As a peddler of hydrocarbons, you wouldn’t expect Ineos to be exploring a battery electric version of its 4x4 would you.
Hyundai said ‘We hope our decades-long expertise in hydrogen fuel cell work in synergy with Ineos’ expertise in the field of chemistry to realise the mass production of green hydrogen and fuel cells for the Grenadier.’
Ineos spokesperson reckoned NEOS, said, “Evaluating new production processes, technology and applications, combined with our existing capabilities puts us in a unique position to meet emerging demand for affordable, low-carbon energy sources and the needs of demanding 4x4 owners in the future.”
Ineos currently produces 300,000 tons of hydrogen a year mainly as a by-product from its chemical manufacturing operations.