Hyundai Motor Company has invested in Pajarito Powder, a company based in the United States.

The investment will enable Hyundai Motor to diversify its business across the hydrogen value chain and to bolster the hydrogen ecosystem’s establishment.

“With one of the most successful fuel cell programs in the world, Hyundai’s investment and backing adds high-level credibility to our work and accelerates our ability to bring high-performance catalyst products to the rapidly growing green-hydrogen market,” said Pajarito Powder CEO and Chairman Thomas J. Stephenson.

“We have structured the investment to maintain our independence,” Stephenson said. “This structure allows Pajarito Powder to continue to provide its next-generation catalyst products to existing and new customers around the globe.

“With Hyundai’s support, we aim to make the vision of the hydrogen future a near-term reality,” Stephenson said.