Hydrogen Innovation: Hyundai’s India FCEV Test, Electrolyzer Breakthroughs & Catalyst Tech Advancements

In this episode of The Hydrogen Podcast, we dive into three game-changing hydrogen stories:

🔹 Hyundai & IndianOil Launch FCEV Trial in India
Hyundai Motor India teams up with Indian Oil Corporation to test the Hyundai NEXO hydrogen fuel cell vehicle under real-world Indian conditions. What this could mean for India’s clean transport sector and how it could eliminate thousands of tons of NOx and PM2.5 emissions.

🔹 Next Hydrogen Secures $5M to Advance Electrolyzer Efficiency
The Canadian startup receives fresh funding to expand its PEM electrolyzer tech, aiming for 10-15% energy efficiency gains and cleaner industrial hydrogen production. We break down the numbers, energy use, and economic potential.

🔹 Hyundai Invests in Pajarito Powder for Fuel Cell Materials
This New Mexico-based startup is making waves in catalyst technology—cutting platinum use and boosting durability for fuel cells and electrolyzers. Hyundai’s strategic move highlights the growing importance of hydrogen materials innovation.

📉 We explore the technical specs, emissions impact (NOx, SOx, PM2.5), and financials of each development. From India’s green mobility push to North America’s innovation in production and materials, hydrogen is scaling now.

📧 Contact us: info@thehydrogenpodcast.com
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#HydrogenPodcast #FuelCellVehicles #GreenHydrogen #HyundaiNEXO #HydrogenIndia #NextHydrogen #PajaritoPowder #ElectrolyzerTech #HydrogenInnovation #HydrogenEconomy

Transcript

Today I’ll cover three key developments: first, Hyundai Motor India and Indian Oil Corporation’s partnership to test hydrogen fuel cell vehicles; second, Next Hydrogen’s $5 million financing to enhance electrolyzer technology; and third, Hyundai’s investment in Pajarito Powder, a New Mexico startup focused on hydrogen materials. I’ll explore the technical details, environmental benefits—like reducing NOx, SOx, and PM2.5 emissions—and the economic implications.  All of this on today’s hydrogen podcast

Our first story comes from The Hans India, published on April 22, 2025: Hyundai Motor India and Indian Oil Corporation have signed an MoU to explore the viability of hydrogen fuel cell vehicles for mass use in India. They’ve handed over a Hyundai NEXO Hydrogen Fuel Cell Electric Vehicle (FCEV) to IndianOil for a two-year study, covering 40,000 km under real-world Indian conditions to evaluate its longevity, operational reliability, and total cost of ownership, simulating private usage.

Let’s dive into the technical aspects. The Hyundai NEXO uses a 95-kW fuel cell stack with a 60% efficiency, paired with a 1.56 kWh battery for hybrid operation, per Hyundai’s specs [Web ID: 18]. It consumes about 1 kg of hydrogen per 50 miles, with a 666 km (414-mile) range on a 6.33 kg tank, stored at 700 bar. In India’s hot, humid, and dusty conditions, this test will stress the fuel cell’s membrane and cooling systems, per industry data. The NEXO produces zero tailpipe emissions—no NOx, SOx, or PM2.5—unlike hydrocarbon vehicles, which emit 0.5-1 g/mile NOx and 0.1-0.2 g/mile PM2.5, per EPA data. If 10,000 NEXOs were deployed in India, each driving 20,000 km/year, they’d consume 4,000 tons of hydrogen, avoiding 4,000 tons of NOx and 800 tons of SOx compared to diesel (EPA estimates), significant in a country where transportation emits 1.5 million tons of NOx yearly.

Now, let’s look at the economics, with a critical eye on assumptions. The NEXO’s cost is likely $60,000 per vehicle, based on global FCEV pricing trends [Web ID: 18]. Hydrogen at $5-$6/kg—a realistic 2025 price—means 400 kg/year per vehicle costs $2,000-$2,400 annually. For 10,000 vehicles, that’s 4,000 tons of hydrogen, or $8-$9.6 million/year. Scaling to 10,000 vehicles requires a $600 million investment in vehicles, plus $50-$100 million for refueling stations (5-10 stations at $5-$10 million each, per DOE data). If hydrogen is produced via electrolysis using India’s growing solar capacity (3-4 cents/kWh), production costs are $3-$4/kg, leaving a $1-$3/kg margin, or $4-$12 million profit for suppliers. However, India’s sparse refueling network—fewer than 10 stations nationwide—means high initial infrastructure costs could delay scalability, a risk often downplayed in optimistic narratives [Web ID: 9]. Still, this partnership could create 500-1,000 jobs in manufacturing and infrastructure, per industry benchmarks, boosting India’s green economy while addressing particulate emissions.

Our second story comes from The Star, published on April 22, 2025: Next Hydrogen, a Canadian company, has received $5 million in working capital debt financing to accelerate its electrolyzer technology development and market expansion. The company focuses on green hydrogen production, aiming to improve efficiency and scalability for industrial and energy applications.

The technology is promising. Next Hydrogen develops PEM electrolyzers, splitting water into hydrogen and oxygen using electricity, ideally from renewables. Their systems claim 10-15% higher efficiency than standard PEM electrolyzers, potentially reducing energy use to 45 kWh/kg from 50 kWh/kg, per industry benchmarks. A 1 MW electrolyzer at this efficiency produces 500 kg of hydrogen daily (200 tons/year), enough to power 50 heavy-duty trucks for 500 miles each (1 kg/50 miles). The process emits zero NOx, SOx, or PM2.5, unlike gray hydrogen production, which emits 1.5 million tons of NOx and 500,000 tons of PM2.5 annually in the U.S., per EPA data. For example, 200 tons of green hydrogen can produce 1,000 tons of ammonia, avoiding 10,000 tons of NOx versus gray hydrogen (10 kg NOx/ton ammonia, EPA). Canada’s abundant hydropower (3-5 cents/kWh) makes it ideal, though water use (10 liters/kg) could strain drier regions.

Economically, the $5 million financing supports Next Hydrogen’s R&D and market entry. A 1 MW electrolyzer costs $1.5 million, per industry data, producing 200 tons/year. At $5-$6/kg, that’s $1-$1.2 million in annual revenue. With production costs at $3/kg (using Canada’s cheap hydropower), the profit is $400,000-$600,000/year per MW, a 25-40% margin. Scaling to 10 MW—a $15 million investment—yields 2,000 tons/year, or $4-$6 million profit, creating 50-100 jobs in manufacturing and installation, per benchmarks. However, the narrative of ‘electrolyzer breakthroughs’ often ignores scaling challenges—global capacity is only 1 GW in 2025, per IEA data, and high upfront costs could deter adoption without subsidies. Still, this financing positions Next Hydrogen to reduce production emissions, supporting a cleaner hydrogen supply chain for applications like those in India.

Our third story comes from the Albuquerque Journal, published on April 14, 2025: Hyundai Motor Co. has invested in Pajarito Powder, an Albuquerque-based startup specializing in hydrogen materials, signaling continued global interest in hydrogen technology [Web ID: 0]. Pajarito Powder focuses on advanced electrocatalysts and catalyst support materials for fuel cells and electrolyzers, aiming to improve performance and durability.

Pajarito Powder develops platinum-based catalysts and carbon supports for PEM fuel cells and electrolyzers. Their catalysts reduce platinum loading by 30-40%, improving efficiency, and extend fuel cell lifespan from 5,000 to 8,000 hours in automotive applications, per industry reports. In electrolyzers, their materials could drop energy use to 48 kWh/kg from 50 kWh/kg. A 1 MW electrolyzer using these materials produces 510 kg/day (208 tons/year), powering 51 trucks daily and avoiding 510 tons of NOx yearly versus diesel (EPA data). In the U.S., where hydrocarbon-based hydrogen production emits 1.5 million tons of NOx, these innovations accelerate the shift to green hydrogen, minimizing PM2.5 emissions. New Mexico’s sunny climate supports solar-powered electrolysis, though water scarcity remains a challenge, per global trends.

Economically, Hyundai’s investment—likely $5-$10 million, based on typical startup funding rounds—helps Pajarito scale production. Their catalysts reduce fuel cell costs by 10-15%, dropping the NEXO’s fuel cell stack cost from $12,000 to $10,200-$10,800, per DOE estimates. For 10,000 vehicles, that’s $18-$24 million in savings, a 3-4% reduction in total vehicle cost. In electrolyzers, a 1 MW system producing 208 tons/year at $5-$6/kg generates $1.04-$1.25 million in revenue, with production costs at $3/kg (solar at 4 cents/kWh), yielding $416,000-$624,000 profit/year per MW. Scaling to 10 MW creates 20-30 jobs in Albuquerque, per benchmarks. The narrative of ‘material breakthroughs’ often overlooks slow adoption—catalyst production is still small-scale, and global demand outpaces supply, per IEA. But this investment strengthens the hydrogen ecosystem, reducing costs and emissions for applications worldwide.

Alright, that’s it for me, everyone.  If you have a second, I would really appreciate it if you could leave a good review on whatever platform you listen to. Apple podcasts, Spotify, Google, YouTube, etc. That would be a tremendous help to the show. And as always if you ever have any feedback, you are welcome to email me directly at info@thehydrogepodcast.com. So until next time, keep your eyes up and honor one another.