The hydrogen refueling company is moving forward with the investment plan and the Hy24 fund as a new financial shareholder.
H2 MOBILITY Deutschland has announced a funding round of 110 million euros, provided by Hy24 and the entity’s long-term partners.
The investment will be used to upgrade the existing network and build new stations to meet the growing demand for hydrogen from commercial and heavy-duty vehicles. The new shareholder was presented today in Berlin in the presence of Ismail Ertug, Member of the European Parliament and rapporteur for the Transport Committee.
Hy24 will invest €70m alongside existing H2 MOBILITY shareholders who are together investing an additional €40m. The investment will be executed by Hy24 through the Clean H2 Infra Fund, which is the largest hydrogen fund in the world to date.
“H2 MOBILITY Deutschland is leading the way in developing the European infrastructure needed for heavy and low-carbon 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, CEO of Hy24.
In addition to the fund managed by Hy24, Air Liquide, Daimler Truck, Hyundai, Linde, OMV, Shell and TotalEnergies contributed to the capital increase.
“Green hydrogen will be a game-changer in the process of replacing fossil fuels in transport and reducing our dependence on extracting resources from the surface of our planet. I am delighted that we can combine the skills of H2 MOBILITY with the significant capital raised during this funding round to accelerate the transition to green hydrogen in mobility and transport!” declared Nikolas Iwan, Managing Director of H2 MOBILITY.
H2 MOBILITY, a leading operator of hydrogen refueling stations which already operates more than 90 stations across Germany, intends to use the funding to expand its network to 300 stations by 2030. Among these, more than 200 will be large-scale refueling stations capable of meeting the demand for zero-carbon, heavy and long-distance transport 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 the practical development of hydrogen infrastructure, backed by its existing shareholder base major players in energy and mobility.