The two companies have agreed to work together to improve HFC technology.
Hydrogen fuel development is important to both Hyundai Motor Group and Doosan Fuel Cell, and the two companies have announced that they have agreed to co-develop and jointly study hydrogen fuel cell (HFC) systems and generation networks.
The companies aim to create an independent hydrogen fuel cell energy network.
According to the recent announcement made by the companies, Hyundai Motor Group and Doosan Fuel Cell signed a memorandum of understanding (MOU) with Ulsan TechnoPark, a state-run automotive parts innovation center.
The MOU will see the three partners collaborate on a hydrogen-based microgrid demonstration project. The goal of the hydrogen fuel development project is to establish an independent HFC energy network.
Together, they will create a new business model for distributed generation of HFCs and demonstrate a hydrogen-based generation system that can respond to fluctuating loads, The Korea Herald reports.
Each company will produce two different fuel cell models for the hydrogen fuel development project.
Both Hyundai and Doosan Fuel Cell will be in charge of creating two different fuel cell models for the project. Doosan Fuel Cell will create phosphoric acid fuel cells (PAFC) while Hyundai Motor will develop a polymer electrolyte membrane fuel cell (PEMFC).
As for Ulsan TechnoPark, it will be responsible for construction and management as the related system will be established at its innovation center.
Doosan Fuel Cell is a subsidiary of Doosan and is a fuel cell material business unit that has experience in commercializing power fuel cells. The company has reportedly been undergoing a spinoff procedure since July in its attempts to become an independent entity, seeking further growth in the area of fuel cell development and power.
In 2018, for the very first time since its inception in 2014, Doosan Fuel Cell surpassed 1 trillion won ($836 million) in orders, which is quite impressive since its customers are mostly power generators.
As for Hyundai, the South Korean automaker has said that its partnership with Doosan Fuel Cell will create synergy with the automaker’s industry plans for hydrogen fuel development and vitalization of supplying fuel cell energy.