H2 Mobility raises $121 million to build hydrogen network

As the production of green hydrogen takes centrestage in Europe, key players in the energy market are rising to the challenge. Just last week, Germany’s renewable energy platform Sunfire raised €195 million in the race towards a net-zero world.

And now, another German player, H2 Mobility has raised €110 million to roll out more infrastructure for fuel cell vehicles powered by hydrogen. The round saw the participation of hydrogen investment platform Hy24 through its Clean H2 Infra Fund, and other existing shareholders, including industrial gases makers Air Liquide and Linde, Daimler Truck and Hyundai Motor Co, utility OMV and oil companies Total and Shell.

The investment will be used to upgrade the existing fuel station network and build new hydrogen stations to meet the increasing demand for hydrogen (H2) from commercial and intensive-use vehicles. More than 200 filling stations will be expanded to large-scale facilities to meet the demand for emission-free heavy-duty and long-distance transport on the European continent.

H2 Mobility is looking at further expansion of the hydrogen filling station network on several highly frequented traffic corridors and is thus assuming a key role in the future mobility system of the European Union. The company has already set up more than 50 hydrogen filling stations and operates over 90 stations.

Nikolas Iwan, managing director, H2 Mobility said: “Green hydrogen will be a decisive factor on the way to emission-free mobility and reducing independence from limited raw material reserves. We operate 92 stations, some can serve trucks already today, all can serve light commercial vehicles and passenger cars. The next step is to create stations with more refuelling capacity to be ready for the expected ramp-up of intensive use vehicles, in particular trucks and buses, due to come from the auto manufacturers.”

Pierre-Etienne Franc, CEO, Hy24 and manager of Clean H2 Infra Fund added: “Hydrogen is a crucial part of the European Union's 'Fit for 55' plans, underlined by the recent REPowerEU proposal. Our investment alongside pioneers also supports the European Commission's efforts to implement the Alternative Fuels Infrastructure Regulation (AFIR) to significantly expand the European hydrogen refueling network. This fits with our ambition to act as a catalyst for a large-scale hydrogen economy – across the entire system and value chain to achieve real transformation for our planet.”