SEOUL, July 29 (Korea Bizwire) — Hyundai Electric & Energy Systems Co. (HE) said Thursday that it has signed a preliminary deal with Hyundai Motor Co. to develop hydrogen fuel cell packages for electricity generation.
The hydrogen fuel cell packages will be developed based on Hyundai Motor’s fuel cell for electric vehicles, HE said in an emailed statement.
HE is an energy solution unit of global shipbuilding giant Hyundai Heavy Industries Holdings Co. (HHIH).
HE plans to commercialize the envisioned hydrogen fuel cell packages by using them for portable power generators and alternative maritime power supplies, equipment providing electricity to ships anchored at the port.
In March, HHIH said it will foster hydrogen-related businesses as its new growth engine amid tightened environmental regulations and rising demand for eco-friendly fuels.
Hydrogen is considered an environmentally friendly alternative to fossil fuels.