H2 MOBILITY Deutschland gets €110m expansion
The hydrogen fueling company moves ahead with the investment plan and Hy24’s fund as a new financial shareholder.
H2 MOBILITY Deutschland has announced a €110m investment round, provided by Hy24 and the long-term partners of the entity.
The investment will be used to upgrade the existing network and build new stations to meet rising hydrogen demand for commercial and intensive use vehicles. The new shareholder was presented today in Berlin in the presence of Ismail Ertug, Member of the European Parliament and rapporteur in the Transport Committee.
Hy24 will invest €70m alongside H2 MOBILITY’s existing shareholders who are investing together a further €40m. The investment will be executed by Hy24 through the Clean H2 Infra Fund, which is to date the world’s largest hydrogen fund.
“H2 MOBILITY Deutschland is leading the way in developing the necessary European infrastructure for low-carbon intensive, and heavy mobility. Hydrogen is a crucial part of achieving the European Union’s Fit-for-55 plans, further reinforced by the recent REPowerEU proposal,” said Pierre-Etienne Franc, the CEO of Hy24.
Next to Hy24 managed fund, Air Liquide, Daimler Truck, Hyundai, Linde, OMV, Shell, and TotalEnergies contributed to the capital raise.
“Green Hydrogen will become a game changer on the journey to replace fossil fuels in transport and to reduce our dependency on extracting resources from our planet’s surface. I am excited that we can combine the skills of H2 MOBILITY with the significant capital raised in this round to accelerate the transition to green hydrogen in mobility and transport!” said Nikolas Iwan, Managing Director of H2 MOBILITY.
H2 MOBILITY, a leading operator of hydrogen refuelling stations which already operates over 90 stations across Germany, intends to use the funding to further expand its network to 300 stations by 2030. Of these, over 200 will be large-scale refuelling stations capable of meeting demand for zero-carbon, heavy-duty and long haul transportation on the European Continent.
H2 MOBILITY Deutschland with its track record of building over 50 projects and operating over 90 stations has the institutional knowledge and understanding necessary for practical hydrogen infrastructure development, reinforced by its existing shareholder base of leading energy and mobility players.
