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Handal Energy Solutions has announced that it will be making its way into the renewable energy segment through a hydrogen fuel-cell electric vehicle (FCEV), Bernama reports.
The company said via a statement that it will be jointly developing its hydrogen-paired electric race car (HyPER) in Malaysia together with NanoMalaysia, Pulsar UAV, MNA Energy and Wheelspin Motorsports.
It said that the HyPER will be powered by NanoMalaysia’s hydrogen and hybrid energy storage system, which pairs on-board hydrogen generation technology with a graphene-based ultracapacitor, which is being co-developed together with Pulsar and MNA Energy.
According to Handal chairman Tengku Baderul Zaman Ibni Sultan Mahmud, the venture into the renewable energy segment is part of the group’s strategic plan to build a sustainable business in accordance with the environmental, social and governance criteria.
“The electric vehicle market is valued at over US$560,000 million by 2025. Handal intends to play a part in this industry as technologies and infrastructure advances. The technologies developed for HyPER will be able to solve certain issues related to the electric vehicle industry,” he said, adding that the group has completed its R&D processes and is currently planning to build the first HyPER car prototype.