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30 10 2018 01

Hyundai Motor has entered into a memorandum of understanding (MOU) with Beijing-Tsinghua Industrial R&D Institute (BTIRDI) to establish a Hydrogen Energy Fund. Under this agreement, the South Korean automaker and its Chinese counterpart expect to strengthen their influence in the hydrogen ecosystem while accelerating the advent of a Hydrogen Society.

The Hydrogen Energy Fund will be jointly operated by Hyundai Motor and Yield Capital, BTIRDI’s investment firm, with a goal to raise a total of US$100 million. The fund aims to attract investments from leading venture capital firms based in China, Europe, and the US.

The binational initiative’s primary objective is to spur investment in the hydrogen industry and value chain while also fostering growth of promising startups in China and Korea. More specifically, the fund will seek for innovative companies that possess various hydrogen-related infrastructures and leadership in core hydrogen technologies.

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