US energy manufacturing and logistics company Phillips 66 and Switzerland-based hydrogen specialist H2 Energy have announced that their subsidiaries have formed a 50/50 joint venture to develop retail hydrogen refueling stations across Germany, Austria and Denmark.
Phillips 66 Limited and H2 Energy Europe AG will aim to install up to 250 hydrogen refueling stations by 2026, the partners said.
The agreement hinges on regulatory approvals and customary closing conditions. The initiative will also require some government support, they said.
H2 Energy Europe is a JV between Singapore-based commodities trader Trafigura Pte Ltd and H2 Energy. H2 Energy is also a JV partner of Hyundai Motor Co’s hydrogen truck outfit Hyundai
With this collaboration, Phillips 66 and H2 Energy intend to each bring their expertise to develop the new network, integrating the supply of hydrogen, green as available, refuelling logistics and vehicle demand. Demand is anticipated in part through the Hyundai Hydrogen Mobility JV.
The project will have at its disposal Phillips 66’s existing network of JET retail petrol stations in Germany, Austria and Denmark, and new locations along major transport routes.
H2 Energy will be tasked with integrating hydrogen production, supply and the refueling apparatus through its wholly owned and affiliated entities.
For more information visit www.phillips66.com