Hyundai Motor Company has signed an MOU with Hyundai Global Service to develop and commercialize hydrogen fuel cell systems.
The MOU represents a watershed moment for Hyundai Motor because it is the company’s first strategic cooperation involving the deployment of its fuel cell system technology in the shipbuilding industry, ushering in a new era of seafaring vessels.
The collaboration will also serve as a platform for identifying and evaluating economic potential for fuel cell-powered ships, establishing Hyundai Motor as a global leader in the development of hydrogen fuel-cell propulsion systems.
Hyundai Motor will provide fuel cell systems and technical assistance, while Hyundai Global Service will manufacture and market fuel cell-based propulsion systems. Korean Register will be in charge of developing type approval standards that all fuel cell-powered vessels of all sizes must meet in order to be approved for commercial usage.
The collaborative effort seeks to create a splash in the green vessel market in the second half of 2022, starting with a small-scale model. The three partners will focus on developing and introducing propulsion systems for mid- to large-sized vessels in the mid- to long-term.