Hyundai Motor Group and Kia Corporation have invested in Albuquerque-based start-up company Pajarito Powder which concluded the start-up’s B-3 funding round to further advance its hydrogen fuel cell and electrolyzer catalyst technologies. This follows a $4.5 million lead investment by Ecovyst Catalyst Technologies and prior backing from Bekaert Corporation.
Hyundai has been a repeat investor since 2021 and continues to view the company as a key player in advancing hydrogen applications, particularly in heavy-duty and passenger vehicles outside the U.S. This new funding will support global manufacturing expansion, cost reduction, and broader commercialization efforts.
Learn more about Pajarito Powder here: https://pajaritopowder.com/
See Molly Callaghan’s April 12 article, “Hyundai, Kia invest in Pajarito Powder’s hydrogen tech,” on the New Mexico Inno Website here: https://www.bizjournals.com/albuquerque/inno/stories/news/2025/04/14/hyundai-and-kia-invest-in-pajarito-powder.html?utm_source=st&utm_medium=en&utm_campaign=ae&utm_content=AQ&j=39424147&senddate=2025-04-14&utm_term=ep4&empos=p4