Image credit: THE MARITIME EXECUTIVE.
HD Hyundai, a leading shipbuilding company, is doubling down on hydrogen fuel cells. The company is setting up a new division and investing in a Finnish company that specializes in this emerging technology.
HD Hyundai believes the global market for hydrogen fuel cells and electrolysis is booming. While stationary power generation is the current focus, marine fuel cells are expected to follow.
Hydrogen fuel cells have shown potential in powering cruise ships. Companies like MSC Cruises, Viking, and Silversea have experimented with them.
To lead this charge, HD Hyundai is investing $100 million+ to create a new business unit named HD Hydrogen. They’re also acquiring a majority stake in Convion, a Finnish company specializing in solid oxide fuel cells.
Convion’s expertise is crucial for developing these complex technologies. Their proven systems offer flexibility and scalability, making them ideal for industrial use.
HD Hyundai is also investing in Elcogen, an Estonian company producing key components for fuel cells.
By focusing on technology development, marketing, and applications in shipping, HD Hyundai aims to become a leader in the green shipbuilding industry. They’re exploring other energy sources like small modular nuclear reactors to further their sustainability goals.