- Next Hydrogen Corporation (NXH) has signed a memorandum of understanding with Hyundai Motor Company and Kia Corporation to advance the cost-effective production of clean hydrogen
- “Green” hydrogen is one of the cleanest ways to produce hydrogen, using water electrolysis and generating zero carbon emissions
- The newly developed stack will use Hyundai and Kia’s component technology combined with Next Hydrogen’s design technology
- Next Hydrogen Solutions Inc. (NXH) is down 0.57 per cent, trading at $8.65 per share
Next Hydrogen Corporation (NXH) has signed a memorandum of understanding with Hyundai Motor Company and Kia Corporation.
The companies will jointly develop an alkaline water electrolysis system in order to to advance the cost-effective production of clean hydrogen.
The alkaline water electrolysis system is regarded as one of the most tested and proven technological means of water electrolysis, with a long track record of research and development.
The newly developed stack will use Hyundai and Kia’s electrode, bipolar plate, and current controller technology combined with Next Hydrogen’s design technology.
Jae-Hyuk Oh, VP and Head of energy business development at Hyundai, commented on the partnership.
“This partnership is another leap forward for our hydrogen business and will be our first step into the alkaline water electrolysis market,” he said. “We believe our technology will be an excellent match for Next Hydrogen’s technology, and this synergy will help achieve our goal to provide our customers with cost-effective green hydrogen.”
Unlike “grey” hydrogen, which is made with fossil fuels and emits CO2 into the air, and “blue” hydrogen, which is produced the same way but prevents CO2 from being released into the air, “green” hydrogen is one of the cleanest varieties, produced using water electrolysis and generating zero carbon emissions.
Green hydrogen also carries high production costs, which is why companies like Hyundai, Kia, and Next Hydrogen are working together, “enabling the economical production of green hydrogen,” as Raveel Afzaal, president and CEO of Next Hydrogen, remarked.
Mr. Afzaal added, “This partnership is expected to accelerate efforts to address the incredible emerging opportunities in sustainable transportation globally.”
Next Hydrogen is a designer and manufacturer of electrolyzers that use water and electricity as inputs to create clean hydrogen for use as an energy source and to decarbonize the transportation and industrial sectors.
Next Hydrogen Solutions Inc. (NXH) is down 0.57 per cent, trading at $8.65 per share as of 2:56 pm ET.
