NanoMalaysia, Pulsar UAV inks JV to commercialise hydrogen-powered drone - MIDA | Malaysian Investment Development Authority
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NanoMalaysia, Pulsar UAV inks JV to commercialise hydrogen-powered drone

NanoMalaysia, Pulsar UAV inks JV to commercialise hydrogen-powered drone

04 Aug 2020

NanoCommerce Sdn Bhd (NSCB), a subsidiary of NanoMalaysia Bhd has inked a Joint venture (JV) agreement with Pulsar UAV Sdn Bhd (Pulsar UAV) to commercialise a hydrogen-powered drone known as the High Endurance Fuel Cell UAV Powered UAV (Unmanned Aerial Vehicle).

The JV agreement will see NSCB taking a 20 per cent stake in Pulsar UAV.

NCSB and NanoMalaysia chief executive officer Rezal Khairi Ahmad said NanoMalaysia places an intrinsic value on the project through a congregation of project investments, intellectual properties and market validation and access.

“The JV will also enable NanoMalaysia Berhad to further develop the existing Hydrogen Paired Hybrid Energy Storage System  (H2SS) — which is currently powered Pulsar’s drones — for another project: Malaysia’s first locally developed electric motorsports vehicle, the Hydrogen Paired Electric Racecar (HyPER),”

“The onboard hydrogen-powered drone has already been sandboxed for precision agriculture with a level of success,” he said in a statement here today.

HyPER according to him, aims to mobilise the Malaysian automotive and transportation sectors in the direction of renewable energy, specifically green hydrogen as the first step towards a Hydrogen Economy.

The global electric vehicle market stood at US$39.8 billion (RM167 billion) in 2018 and is projected to reach US$1.5 trillion (approximately RM6.4 trillion) by 2025.

Meanwhile, Pulsar UAV chief executive officer, Izmir Yamin said the JV agreement will help the company to validate the needs of drone services in various sectors, particularly agriculture.

“The market validation gives us reason to further improve our drone services by developing an on-board hydrogen generator,” he said in a statement today.

“Now, with our in-house hydrogen technology, we are not only improving the drone services, but we are also able to venture into other sectors like energy and transportation,” he said.

Source: Bernama