Germany’s H2 Mobility hydrogen fuelling station network said it will get an extra 110 million euros over the next five years to roll out more infrastructure for fuel cell vehicles powered by hydrogen.
Hydrogen investment platform Hy24 will inject 70 million euros through the Clean H2 Infra Fund, which it manages, and H2 Mobility’s seven other existing shareholders will further fund 40 million euros.
H2 Mobility’s existing investors are industrial gases makers Air Liquide and Linde, Daimler Truck and Hyundai Motor Co, utility OMV and oil companies Total and Shell.
H2 Mobility’s managing director Nikolas Iwan said the money will go into expanding the fuelling station network, helping it to become profitable.
“We operate 92 stations, some can serve trucks already today, all can serve light commercial vehicles and passenger cars,” he said.
“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,” he said.
Iwan said H2 Mobility aspired to break-even in 2026, once anchor customers bring more volume.
European Union environment ministers want truck CO2 emissions cut by a third by 2030 from 2019 levels. While battery powered vehicles have established a lead in the truck sector, hydrogen fuel cell driven ones are expected to win out in the long-haul segment.