As the hydrogen economy continues to brew, Hyundai and Kia are making strategic moves. Both South Korean automotive giants have thrown their weight behind Pajarito Powder, a US-based start-up commanding attention in the hydrogen sector.
This development comes as Pajarito Powder concludes its B-3 investment round on the heels of its announcement just prior to the Hannover Messe. By joining forces with Hyundai, which had its initial stake in Pajarito Powder back in 2021, Kia marks its first entry into this promising segment.
CEO Thomas J. Stephenson underlined that such strategic alliances bolster innovation acceleration, focusing on coating techniques aimed at enhancing efficiency and durability while cutting down operational costs—a vital step for the mass adoption of hydrogen solutions. Alongside Hyundai and Kia, Ecovyst Catalyst Technologies stands as another significant investor in this round, committing $4.5 million to the start-up. This capital has allowed Pajarito to refine its technology and lay groundwork for international expansion.
Ecovyst’s support extends to building additional production capacities abroad, widening Pajarito’s operational scope. Despite economic uncertainties overshadowing 2024, John Rice, Chairman of Pajarito Powder, remarked on the enterprise’s growth and milestone achievements, underscoring the groundwork crucial for a functional hydrogen economy. Establishing scalable production and supply chains remains a critical focus area. Hyundai and Kia’s strategy is apparent—they are securing early access to pivotal technologies to dominate future markets.
Hyundai and Kia’s investments are not limited to hydrogen-fueled vehicles but extend to infrastructure and industrial applications. Notably, Kia’s involvement indicates a broadened commitment to alternative propulsion technologies, diverging from market competitors predominantly focusing on batteries.
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