Hyundai Motor, Advent Technologies sign advanced fuel cell deal

Hyundai Motor and Kia will jointly develop a core component for advanced fuel cells with Advent Technologies, a Boston-based fuel cell component manufacturer.

Hyundai Motor and Kia said Thursday that they signed a joint development agreement with Advent Technologies to develop a membrane electrode assembly (MEA) for fuel cells by 2024.

MEA is the core component in a fuel cell that helps induce the electrochemical reaction needed to produce electricity.

Advent Technologies is a fuel cell material supplier with expertise in MEA production technology, according to Hyundai.

The companies will jointly develop MEA for high-temperature fuel cells.

The high-temperature fuel cells will be designed to withstand up to 200 degrees Celsius, which enables more cost-efficient and stable operation compared to low-temperature fuel cells, which operate at temperatures under 100 degrees.

Hyundai and Kia will supply ion-transfer materials and catalysts to Advent Technologies, while the U.S. company will produce the MEAs.

The signing ceremony was held on Wednesday at Advent Technologies’ headquarters in Charlestown, Massachusetts.

“The Advent team worldwide is proud and excited to enter into the next phase of a highly promising collaboration with Hyundai,” said Vasilis Gregoriou, Advent Technologies CEO.

“Through this collaboration, we aim to accelerate the shift towards sustainable energy and help shape a cleaner, more efficient future by assisting Hyundai in bringing its future mobility strategy to life.”

“With the goal of achieving decarbonization, we will strive to develop the core component for high-temperature fuel cells based on know-how and technologies of both parties,” said Hong Seung-hyun, Hyundai Motor vice president.

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]