- Hyundai Motor Company (OTC:HYMTF) has signed a Joint Development Agreement (JDA) with Advent Technologies Holdings Inc (NASDAQ:ADN) after a successful technology assessment.
- The assessment evaluated Advent’s proprietary Membrane Electrode Assembly (MEA) technology for supplying Hyundai’s high-temperature fuel cell needs.
- Under the agreement, Hyundai and Advent will further develop HMC-Advent Ion Pair MEA, establish commercial criteria for MEA supply, and evaluate Advent’s advanced fuel cell technology for Hyundai’s heavy-duty and/or stationary application.
- Also, the parties will introduce advanced cooling technologies for mobility High-Temperature Proton Exchange Membrane (HT-PEM) fuel cell stacks.
- The partnership builds upon a commitment from both companies to develop sustainable energy solutions for carbon-intensive applications.
- “With our common goal to decarbonize heavy-duty transport, we are committed to contributing to Hyundai’s goal of building innovative, high-performance fuel cell solutions that will make a significant impact in reducing greenhouse gas emissions,” said Advent chairman and CEO Vasilis Gregoriou.
- Price Action: HYMTF shares closed lower by 1.51% at $33.20 on Wednesday.
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