H2 Mobility raises $121 million to build hydrogen network
Summary
As the production of green hydrogen takes centrestage in Europe, key players in the energy market are rising to the challenge. 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 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 Unions Fit for 55 plans, underlined by the recent REPowerEU proposal. 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.”