Germany’s H2 MOBILITY announces a €110m investment round, provided by Hy24, the world’s largest clean hydrogen infrastructure investment platform, alongside significant investments from existing industrial shareholders. Next to Hy24 managed fund, Air Liquide, Daimler Truck, Hyundai, Linde, OMV, Shell, and TotalEnergies contributed to the capital raise.
The investment will be used to upgrade the existing network and build new stations to meet rising hydrogen demand for commercial and intensive use vehicles. The new shareholder was presented today in Berlin in the presence of Ismail Ertug, Member of the European Parliament and rapporteur in the Transport Committee.
Hy24 will invest €70m alongside H2 MOBILITY’s existing shareholders who are investing together a further €40m. The investment will be executed by Hy24 through the Clean H2 Infra Fund, which is to date the world’s largest hydrogen fund. H2 MOBILITY, a leading operator of hydrogen refuelling stations which already operates over 90 stations across Germany, intends to use the funding to further expand its network to 300 stations by 2030 – becoming the backbone of zero-carbon private and commercial traffic in Europe. Of these, over 200 will be large-scale refuelling stations capable of meeting demand for zero-carbon, heavy-duty and long-haul transportation on the European Continent. Heavy mobility is one of the most challenging sectors of the economy to decarbonise, and hydrogen-powered vehicles offer the best solution, as they can refuel quickly and cover long distances without
The expansion of H2 MOBILITY Deutschland’s network will be focused on several high-traffic transportation corridors, giving it a cornerstone role in the future mobility system of the European Union. In a sign of existing demand for hydrogen vehicles, many of the company’s new projects will be developed hand-in-hand with off-takers, public authorities, and fleet operators – guaranteeing baseline offtake for the stations and a significant step towards a profitable and self-sustained refuelling network. 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 practical hydrogen infrastructure development, reinforced by its existing shareholder base of leading energy and mobility players.
Hy24’s investment marks the first such move by any international investment fund into the hydrogen mobility space – and it will seek to use its leading industrial and financial expertise to support the business case for the sector, helping it to profitably achieve sustainability goals.
Nikolas Iwan, Managing Director of H2 MOBILITY: “Green Hydrogen will become a game changer on the journey to replace fossil fuels in transport and to reduce our dependency on extracting resources from our planet’s surface. I am excited that we can combine the skills of H2 MOBILITY with the significant capital raised in this round to accelerate the transition to green hydrogen in mobility and transport!”
Hy24 is joining H2 MOBILITY’s existing investors including industrial gases makers Air Liquide and Linde, automotive companies Daimler Truck and Hyundai Motor Co, utility OMV and oil companies Total and Shell.