Hyundai Motor invests in Hydrogenious LOHC Technologies
Global automaker Hyundai Motor Company is investing in Germany-based Hydrogenious LOHC Technologies GmbH, a developer of Liquid Organic Hydrogen Carrier (LOHC) storage, and refuelling station technology. The investment, the value of which has not been disclosed, is connected with a joint technology and business development agreement for stationary and on-board LOHC-systems marking the beginning of "comprehensive cooperation" between the two companies.
With the participation in Hydrogenious LOHC Technologies, Hyundai Motor Company plans to deploy and market Liquid Organic Hydrogen Carrier (LOHC) technology. The joint marketing and business development activities will initially focus on South Korea.
We are committed to demonstrating the benefits of LOHC technology 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, explained Yunseong Hwang, VP of Open Innovation Investment Group at Hyundai Motor Company.
After an initial phase, both parties plan to extend the cooperation and 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, alongside business development activities, joint technology development will be an important pillar of the collaboration.
We welcome Hyundai as a new shareholder as well as a commercial and technology partner. Both companies share a vision of a low emission hydrogen-powered economy. Hyundai Motor Company is one of the leading global corporations advancing hydrogen mobility. I look forward to working with the Hyundai team to further develop our LOHC technology that is the most efficient solution for safely handling hydrogen, stated Daniel Teichmann, CEO of Hydrogenious LOHC Technologies.
About Hydrogenious LOHC Technologies
Established in 2013 as a spin-off of Friedrich-Alexander-Universität Erlangen-Nürnberg in Germany, Hydrogenious LOHC Technologies GmbH has developed a Liquid Organic Hydrogen Carrier (LOHC) technology using an oil-type fluid which enables the safe and efficient storage and handling of hydrogen within the existing fuel infrastructure. The company designs and builds plants used for hydrogen logistics and hydrogen refueling stations.
A global leader in the field of hydrogen storage technologies based on Liquid Organic Hydrogen Carriers (LOHC) the company is backed by investors including AP Ventures, Royal Vopak, Covestro, Mitsubishi Company, Winkelmann Group, and Hyundai Motor Company and industrial partners including Frames, Clariant, Eastman Chemicals and MAN. The company aims to successfully introduce a LOHC-based hydrogen infrastructure into the global market.