FRANKFURT, March 29 (Reuters) – Germany’s H2 Mobility fuelling station network said on Tuesday it will get an extra 110 million euros ($121 million) over the next five years to roll out more infrastructure for fuel cell vehicles powered by hydrogen.
Of the total sum, 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 stump up 40 million euros.
While battery powered vehicles have established a lead in the truck sector, fuel cell driven ones are expected in greater numbers in the long-haul segment in a fierce technology battle.
H2 Mobility’s existing investors are industrial gases makers Air Liquide (AIRP.PA) and Linde (LIN.N), Daimler Truck (DTGGe.DE) and Hyundai Motor Co (005380.KS), utility OMV (OMVV.VI) and oil companies Total and Shell (SHEL.L).
“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.
Hy24 is a joint venture between private equity firm Ardian and big energy, chemical and financial firms grouped in the FiveT Hydrogen investment platform.
($1 = 0.9118 euros)