Singapore PE backs $300m Korean hydrogen push

Hyundai-backed Sylvan Group is partnering with SK Innovation to invest $300m to scale a hydrogen transport business in South Korea; the plan is to support 6,000 buses by 2029.

The Sylvan Group, a Singapore-based private equity firm backed by members of South Korea’s Hyundai family, is partnering with SK Innovation, the energy arm of Korean conglomerate SK Group, to invest around $300 million (KRW400 billion) to scale a hydrogen transport business in South Korea, including rolling out refuelling hubs for buses.

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