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Hyundai Motor promises to make hydrogen energy widely available by 2040

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Hyundai Motor Group, South Korea’s second-largest corporation and parent company of Hyundai Motor and Kia Motors, pledged Tuesday to promote hydrogen energy in “everything” by 2040, including all modes of transportation and other areas such as homes, buildings, and power plants.

“The ambition of Hyundai Motor Group is to use hydrogen energy in all aspects of life and business, including our homes, offices, and factories. The goal is to make hydrogen accessible to everyone, everything, and everywhere “Chung Eui-sun, Chairman of Hyundai Motor Group, stated during an online news conference.

Chung stated during the Hydrogen Wave media event that Hyundai hoped to help build a global hydrogen society by 2040 by extending hydrogen fuel cell technologies to fields other than transportation.

To meet the target, Hyundai planned to launch its next-generation hydrogen fuel cell system in 2023, with costs decreased by more than 50%, overall package volume reduced by 30%, and power output doubled.

Hyundai’s third-generation fuel cell stack, which is currently being developed, will be available in two power configurations. The 100kW stack is 30% less in size, making it easier to adapt to diverse vehicle types, whilst the 200kW stack is geared for commercial vehicle applications and has its power output doubled.

Hyundai expects its fuel cell electric cars (FCEV) to reach a price point equivalent to battery electric vehicles by 2030, thanks to continuing technological advancement in fuel cell systems.

Hyundai will begin with commercial cars, which release more carbon dioxide and demand longer driving ranges than passenger vehicles. It wanted to fully electrify its commercial vehicle lineup, which included trucks and buses, by 2028 by using either batteries or fuel cells to decarbonize public transit and the logistics business.

Hyundai intended to apply hydrogen fuel cell systems to all modes of transportation, including vehicles, trains, planes, and ships, while also expanding the technology to other energy aspects such as providing electricity and warmth to buildings, urban energy sources, and power plants.

Hyundai’s efforts to support hydrogen energy as a new energy source and minimize reliance on fossil fuels aligned with South Korea’s goal of becoming carbon neutral by 2050.

South Korean President Moon Jae-in stated in October of last year that his government will work with the international community to efficiently reduce carbon emissions to zero by 2050 in order to combat climate change.

South Korea’s parliament enacted a bill last week mandating the government’s objective of achieving net-zero greenhouse gas emissions by 2050, making the country the world’s 14th to codify carbon neutrality.

“Through the immense potential of hydrogen energy, the (Hyundai Motor) group aspires to deliver powerful and pragmatic solutions for tackling climate change,” stated Chairman Chung during the online news conference.

According to the Hydrogen Council, a global CEO-led initiative comprising energy, transportation industry, and investment businesses, hydrogen energy is expected to account for 18 percent of global energy demand by 2050, with a market size of 2.5 trillion US dollars.

According to the calculation, the widespread use of hydrogen energy will help reduce carbon dioxide emissions by more than 6 billion tons each year.

Hyundai Motor debuted the Tucson FCEV, the world’s first mass-produced hydrogen fuel cell vehicle, in 2013, the NEXO, the next-generation fuel cell SUV, in 2018, and the XCIENT Fuel Cell, the world’s first heavy-duty fuel cell truck, in 2020.

In March, Hyundai started work on its first international fuel cell system factory in Guangzhou, China. According to Hyundai, the factory will begin by manufacturing 6,500 fuel cell systems per year and would steadily increase its capacity in order to supply market demand.

Source: Xinhua News Agency

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Treetop hospital giving scholarships to nursing students who finish from Villa College.

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Treetop hospital gives scholarships to nursing students of villa College to finish their coursework.

Treetop hospital announced that they have decided on this scholarship as a way to motivate students to get higher studies in the medical field. Treetop hospital stated that nursing is an important component of the medical field and they want to raise awareness about it and motivate them more. Students who have done nursing diplomas and undergraduate degree courses will be eligible for this scholarship.

The due date to apply for this scholarship is before September 23rd before 17:00. The scholarship is only open for Maldivian students who are not under any other scholarship when applying. Students who are currently studying, or newly joining villa College will also be eligible to apply for the scholarship before the due date.

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HDFC selling 200-million-rufiyaa Sukuk.

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Housing Development Finance Corporation (HDFC) is ready to sell 200-million-rufiyaa Sukuk to get funds for housing-related finance issues.

According to HDFC, it’s been decided that they will sell 1 Sukuk for 1000 rufiyaa. HDFC aims to sell 2 lakh slots of Sukuk. The company will be selling Sukuk worth 2 million rufiyaa, with the persons who buy them to gain 65% profit each month, for 10 years. This is being sold by being registered under the stock exchange.

HDFC noted that Sukuk is being sold so as to expand their services and to conduct investments that fit Islamic sharia laws. This is the 4th time that HDFC is selling Sukuk. HDFC made a profit of 250 million rufiyaa from the previous sales of Sukuk.

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With the help of BML, a new community library established in R. Fainu

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Under the Bank of Maldives community service fund, a new public library has been opened in the R. Fainu community center.

With the help of a non-profit body, Fainu Association for Community Endeavors (FACE), BML has established this library in Fainu community center. BML stated that the reason for this project is to grow the love of literature in locals and to build an education society. There is a computer lab built inside the library as well. BML informed that there are 3 computer systems in the library for students to do homework or research projects if needed.

Speaking about this, FACE organizations president Hussain Waheed noted that this public library and computer lab will benefit students who need help with homework, and other students who are studying online courses, and it will be helpful to find reference materials.

BML’s community fund is open to financially help any non-profit organization or person to complete any project they need to benefit the community of that island.

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