September 16, 2021 • Paul Rodden • Season: 2021 • Episode: 47
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In episode 047, Hyundai has a vision to popularize hydrogen by 2040, a new strategic partnership between Ballard and Quantron AG an EV market. And IRENA and the Hydrogen Council forge an alliance to scale up hydrogen across the energy system. All of this on today's hydrogen podcast.
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Hyundai has a vision to popularize hydrogen by 2040, a new strategic partnership between Ballard and Quantron AG an EV market. And IRENA and the Hydrogen Council forge an alliance to scale up hydrogen across the energy system. All of this on today's hydrogen podcast.
So the big questions in the energy industry today are, how is hydrogen the primary driving force behind the evolution of energy? Where is capital being deployed for hydrogen projects globally? And where are the best investment opportunities for early adopters who recognize the importance of hydrogen? I will address the critical issues and give you the information you need to deploy capital. Those are the questions that will unlock the potential of hydrogen and this podcast will give you the answers. My name is Paul Rodden and welcome to The Hydrogen Podcast. In a press release dated September 7, Hyundai Motor Group has set out its vision for hydrogen energy and a global hydrogen society.
At the Hydrogen Wave Global Online Forum held on September 7, the group presented its plans to popularize hydrogen by 2040 through the introduction of new technologies and mobility solutions in transportation and other industrial sectors. Further underscoring its pioneering commitment to clean sustainable energy for all types of mobility, the group unveiled unprecedented plans that will see the electrification of all new commercial vehicle models, featuring fuel cell electric or battery electric power trains, as well as the application of fuel cell systems to all models by 2028. The daring strategy will put the group at the vanguard of the commercial vehicle sector in the process, helping to reshape the industry and realize a sustainable clean future.
Representing the group's plans for a new wave of hydrogen based products and technologies that advances the journey towards a hydrogen society, the hydrogen wave activities kicked off today with an online presentation led by Chairman of the group Euisun Chung, and others in your executives. The team outlined the group's future hydrogen strategy for fuel cell systems and fuel cell based solutions for mobility and other areas. The group's central target to fully apply its commercial vehicle lineup with fuel cells by 2028 will make it the first global automaker to realize such ambitions for commercial vehicle transportation, and will further help facilitate the transition to true sustainable mobility.
The online global forum will be followed by a physical HydroVILLE exhibition, at which the newly introduced applications and concepts will be presented. Inspired by the potential for clean hydrogen, the HydroVILLE exhibition features various fuel cell concepts for future mobility and power generation. Since the development is first fuel cell electric vehicle in 1998, the group has been preparing for the future of hydrogen. In 2013, the Tucson fuel cell (FCEV) was introduced opening the door to the mass production of fuel cell EV's. Then in 2018, the company launched the next generation of fuel cell SUV Nexo, and the world's first heavy duty fuel cell truck XCIENT Fuel Cell in 2020. Now, the group is backing hydrogen to play a significant role in building a sustainable future and reducing society's dependence on hydrocarbons.
After two decades of the forefront of fuel cell technology development, the group will expand its fuel cell technologies for wider applications of its vehicles, including additional mobility solutions and various energy utilization. According to the hydrogen Council, a global CEO led initiative of leading energy transport industry and investment companies. Hydrogen energy will account for 18% of global energy demand by 2050, and a market size of up to two and a half trillion US dollars. The popularization of hydrogen energy will also help cut co2 emissions by more than 6 billion tons of year while creating over 30 million new jobs. The vision for Hyundai Motor Group is that by 2040 hydrogen energy will be used not only for transportation, but will also be applied to wider areas of industries and sectors.
The group aims to make hydrogen energy available to everyone... everything... everywhere. During Hydrogen Wave the group is sharing its plans to proactively respond to climate change through hydrogen solutions, starting with the commercial vehicle sector, which emits larger amounts of co2 and requires longer drive ranges compared with the passenger vehicle sector. As a result of such findings, the group will launch all new commercial vehicles, such as buses and heavy duty trucks for the global market as fuel cell electric vehicles and battery electric vehicles. By 2028, the company expects to become the first global automaker to apply its fuel cell system to all commercial vehicle models. The group has already started mass producing a greatly improved version of the current XCIENT Fuel Cell, the world's first mass produced fuel cell heavy duty truck. It is also developing a tractor based on the XCIENT Fuel Cell that will be released in 2023. During the Hydrogen Wave, The group also unveiled the trailer drone concept, hydrogen powered container transportation system capable of operating fully autonomously with a double e-Bogie configuration.
Through the development of hydrogen Commercial Vehicles, the group will promote the complete transition of Korea's public transportation and logistics systems to hydrogen based solutions with a view of setting the benchmark for the world. In addition, the group will fully re energized global commercial vehicle markets, including Europe, which at present consists of 400,000 new units a year, through its advanced next generation fuel cell technologies. The group will develop five to seven meter fuel cell purpose built vehicles to target the global light commercial vehicle market projected for 7 million units sales per year by 2030.
This will be in part undertaken by an expansion and its business capabilities, and applying autonomous driving and robotics to the commercial vehicle sector. Fuel Cell systems are not only being used commercially for vehicles such as the NEXO SUV, Elec City Bus and XCIENT Fuel Cell truck, but also have potential for deployment across diverse applications by 2040, including high performance vehicles, urban Air Mobility, robots, aircrafts and large ships. As a result of such capabilities, the group will expand the scope of fuel cell systems and technologies to all areas of the energy sector, including the provision of electricity and heating to buildings, urban energy sources and power plants. To achieve this, the group is planning to introduce a new generation fuel cell system in 2023. That realizes reduced price and volume was significantly improved durability and output. Through ongoing r&d gains engineering teams for the group have been able to reduce fuel cell costs drastically over the last 20 years.
By ensuring price competitiveness, the group's goal is to achieve a fuel cell vehicle price point comparable to a battery electric vehicle by 2030. The group will realize economies of scale of hydrogen production by continuous technology innovation of fuel cell systems, as well as close collaboration with other organizations and governments across diverse business areas. So a lot of big hydrogen news coming from Hyundai with not only applications in commercial vehicles, and personal vehicles, but it also sounds like Hyundai is looking to expand its vision to many other industries. So with work hand is putting into hydrogen fuel cells and hydrogen infrastructure development across Asia and Europe.
Hyundai alongside with Toyota could revolutionize the FC EV market. Next in a press release from Ballard Power Systems, they've announced a strategic partnership with Quantron AG for the development of a hydrogen fuel cell electric truck. The partnership of Ballard, a global leader in fuel cell technologies and Quantron AG, a global leader in electric vehicle integration is expected to accelerate the deployment and market adoption of fuel cell technologies. The combined complimentary expertise of Ballard and Quantron AG enables broader customer access to zero emission fuel cell electric trucks, without compromising on range, payload, vehicle utilization, or total cost of ownership. Initial deployment of the fuel cell electric trucks is scheduled for the second half of 2022. In Europe, various government subsidies and incentives will be available to fleet vehicle operators. Specifically, Germany has recently committed to covering up to 80% of conversion costs from internal combustion engines to alternative drives through the E mobility Support Program.
Andreas Haller, founder and chairman of Quantron AG said, this is another important milestone for Quantron AG's global growth. The cooperation with Ballard enables us to bring customized hydrogen commercial vehicles with fuel cell electric drives to the market. Today we embark on a journey of joint development and production of fuel cell electric commercial vehicles. Robert Campbell, Chief customer Officer of Ballard systems said Ballard is looking forward to collaborating with Quantron AG to accelerate the adoption of fuel cell technology for truck applications. The combination of both company's expertise will deliver high performance hydrogen trucks to respond to the growing demand for zero emission vehicles from fleet operators and unlock new business opportunities for medium and heavy duty fuel cell trucks in Germany. Ballard is bringing its eighth generation of heavy duty fuel cell power module experience built upon over 85 million kilometers of road service from over 3500 buses and trucks powered by our leading PEM technology today.
So it looks like another great matchup between the leading fuel cell maker in this case Ballard as they partner up with an electric vehicle integration company, and with the news that was just released from Hyundai and with the massive growth that Hyzon is experiencing the fuel cell EV heavy duty truck market looks to have great momentum, and 2022 looks to be a very big year for that market. Lastly, in a press release from IRENA, they and the Hydrogen Council forge an alliance to scale up hydrogen across the energy system. On September 8, IRENA and the hydrogen Council which is a global CEO coalition have signed a partnership agreement to jointly advance green hydrogen across the energy system and make a significant contribution to global net zero goals. Signed by Francesco La Camera, Director General of IRENA and Daryl Wilson, Executive Director of the Hydrogen Council. The agreement marks a new milestone in the history of collaboration between the two organizations by combining IRENA's renewable energy expertise with the hydrogen Council's diverse network of 120 plus member companies across the entire hydrogen value chain.
La Camera said in a statement, IRENA's world energy transitions outlook makes it clear that we have to urgently step up action on all fronts of the energy transition to achieve our climate and sustainable development goals. Green hydrogen is a critical pillar for decarbonizing energy systems. With today's agreement, we will significantly increase knowledge exchange and international cooperation and coordinated action in this space. Daryl Wilson, Executive Director of the hydrogen council said, We are united by a shared vision for hydrogen as the enabler for faster and greater integration of renewable capacity, as well as greater cost efficiency and optimization at the energy system level. The Council's hydrogen scaling up report shows that the key role of clean hydrogen produced through different low carbon pathways and developing deep decarbonisation while providing the necessary flexibility and resilience for our energy systems.
Public Private collaboration with partners such as IRENA is critical to making this profound transformation happen. We look forward to this next chapter of our partnership and accelerating the transition to net zero together with a focus on accelerating hydrogen globally, the two organizations will exchange knowledge, best practice and data particularly on cost and volumes for electrolyzers policy frameworks, market design, certification systems, and technical and safety standards. The partnership agreement will also draw on the complimentary strengths and communities of IRENA and the hydrogen Council. To achieve the aims of IRENA's collaborative framework on green hydrogen IRENA's numerous frameworks serve as multi stakeholder platforms for cooperation and coordinated action, bringing public private and inter governmental and non governmental actors together to support and accelerate the global energy transformation in relevant areas such as green hydrogen.
So very important pair up for the hydrogen industry IRENA and the hydrogen Council. And while their focus may be on green hydrogen right now, I believe that all hydrogen technologies will benefit substantially from this partnership. And that includes not only the technologies used to create hydrogen, but also transport and I'm hoping to see great things coming from this matchup. Okay, that's it from everyone. If you have any questions, comments or concerns about today's episode, come by my website at thehydrogenpodcast.com and let me know I would really love to hear from you. And as always, take care. Stay safe. I'll talk to you later.
Hey, this is Paul. I hope you liked this podcast. If you did want to hear more. I'd appreciate it if you would either subscribe to this channel on YouTube, or connect with your favorite platform through my website at www.thehydrogenpodcast.com. Thanks for listening. I very much appreciate it. Have a great day.