H2 Mobility, a German fueling station network announced today that it will get an extra 110 million euros ($121 million) over the next five years so as to produce more infrastructure for fuel cell vehicles powered by hydrogen.
The breakdown of the total sum shows that hydrogen investment platform, Hy24, will inject 70 million euros through the Clean H2 Infra Fund and H2 Mobility’s seven other shareholders will gather 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.
While commenting, H2 Mobility’s Managing Director, Nikolas Iwan, said the money being raised will go into expanding the fuelling station network and gradually help it become profitable.
Iwan said the company operates 92 stations, some can serve trucks already today, all can serve light commercial vehicles and passenger cars.
He noted that the next step is to create stations with more refuelling capacity to be ready for the expected ramp-up of intensive used vehicles, in particular trucks and buses, due to come from the auto manufacturers.
According to Iwan, H2 Mobility aspired to break-even in 2026, once anchor customers bring more volume.
