The Korean automotive giant and Swedish supplier of vapour deposition-based coatings for fuel cells today signed the Memorandum of Understanding (MoU) in Seoul
The MoU follows on from the previous Joint Development Agreement between the two companies which was announced on back in October.
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“The partnership between Hyundai and Impact Coatings comes at an important time for hydrogen energy, with governments around the world announcing hydrogen roadmaps and market players completing to take the lead,” said Soon Chan Park, Vice-President of Hyundai Motor Fuel Cell Business Group.
“I believe that the collaboration between our two companies will help vitalise technological exchange between Korea and Sweden.”
The signing ceremony took place during the visit to Seoul by the Swedish Prime Minster Stefan Löfven and the Minister for Foreign Trade Anna Hallberg, together with a large delegation of Swedish business leaders.
Hyundai was represented by President Young Woon Kong of Hyundai Motor Group Strategy Planning Division, and Vice-President Soon Chan Park of Hyundai Motor Fuel Cell Business Group.
“Mirroring the strong ties between Sweden and South Korea over the past sixty years, Impact Coatings and Hyundai are jointly embarking on a journey to develop fuel cell coating and hydrogen energy technology,” said Mark Shay, Chairman of Impact Coating.
“We are together focused on innovation and the migration to clean energy, not just in our two home countries but around the world.”
