HD Hyundai Expands Hydrogen Fuel Cell Presence Through Convion Acquisition
Key Ideas
  • HD Hyundai acquires Finnish firm Convion for 72 million euros, enhancing its position in the hydrogen fuel cell market.
  • The acquisition provides access to solid oxide fuel cell technology, essential for hydrogen energy development, boosting global competitiveness.
  • With a projected market size of 17 trillion won by 2030, HD Hyundai's strategic investments aim to lead in clean energy technology and green shipbuilding industry.
  • HD Hyundai's subsidiary, HD Hydrogen, and Convion will collaborate on fuel cell technology, focusing on both power generation and marine applications.
HD Hyundai is making significant moves in the hydrogen fuel cell market by acquiring Finnish company Convion for 72 million euros. Convion, a leader in solid oxide fuel cell technology, is crucial for hydrogen energy development. With the global hydrogen market expected to grow substantially by 2030 and reach 55 trillion won by 2040, this acquisition enhances HD Hyundai's competitiveness. The company's subsidiary, HD Hydrogen, will work on fuel cell technology for power generation and marine industries, while Convion will focus on developing core technologies in Europe. Additionally, HD Hyundai is investing in small modular reactors and clean energy sources to lead the green shipbuilding industry. Furthermore, HD Hyundai's investment in Eclogen last October shows its commitment to advancing solid oxide technology. The overall sentiment in the article is positive, highlighting HD Hyundai's strategic vision to become a frontrunner in clean energy technology and sustainable shipbuilding.
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