H2 Mobility raises EUR 110m to expand hydrogen refuelling infrastructure

H2 Mobility Deutschland GmbH has secured EUR 110 million (USD 120.6m) in funding from clean hydrogen investment platform Hy24 and its existing investors to upgrade its infrastructure and more than triple the number of its hydrogen refuelling stations by the end of the decade.

Hy24, through its Clean H2 Infra Fund, provided EUR 70 million of the fresh capital and will become the eighth investor in the Berlin-based company. The remainder came from existing investors including Air Liquide (EPA:AI), Daimler Truck (ETR:DTG), Hyundai, Linde (NYSE:LIN), OMV (VIE:OMV), Shell (LON:SHEL) and TotalEnergies (EPA:TTE).

The transaction is subject to regulatory approval.

The proceeds from the fundraiser will be used to upgrade the existing network and build new hydrogen filling stations, H2 Mobility said on Tuesday. The company operates more than 90 hydrogen stations and their number is planned to grow to 300 by 2030, including more than 200 large-scale refuelling stations to meet the demand for heavy-duty and long-haul transportation in Europe. The network will be expanded with a focus on several high-traffic transportation corridors and in cooperation with off-takers, public authorities, and fleet operators in order to ensure offtake for the stations.

H2 Mobility Deutschland was founded by Air Liquide, Daimler, Linde, OMV, Shell and TotalEnergies in 2015 to support the introduction of carbon-free fuel. Hyundai joined the initiative in 2021.

(EUR 1 = USD 1.097)

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