Hydrogen mobility company, Hyzon Motors, and Total Carbon Neutrality Ventures have joined forces on strategic investment into hydrogen.
Alongside other specialist hydrogen investors, Total is focused on finding, funding and fostering hydrogen technology to complement its 2050 net-zero target goals.
Earlier in 2020, Hyzon, a supplier of hydrogen fuel cell-powered commercial vehicles, expanded existing operations by opening its new US headquarters and Engineering Center. Hyzon has also launched its European operations in the Dutch city of Groningen with JV partner Holthausen Clean Technology.
Hyzon expects to deliver around 5,000 fuel cell trucks and buses over the next three years, it claims. By 2025, Hyzon’s expects a capacity of more than 40,000 fuel cell vehicles each year.
Craig Knight, CEO of Hyzon Motors, said: “Over the past 17 years, the Hyzon founding team have been fully focused on developing our own proton-exchange membrane (PEM) fuel cell technology, the ‘engine’ of any hydrogen-powered vehicle, with the aim of producing the world’s most advanced fuel cell and the world’s most powerful yet cleanest heavy vehicles. While we already have around 400 buses and trucks on the road with our fuel cells today, the global appetite for zero-emission heavy vehicles has grown significantly and Hyzon is now ramping operations to meet this demand.
“Building out hydrogen mobility technology and assets is a long game and requires significant partnerships. This is why we are pleased to welcome today our new investors and their support for accelerating the energy transition in mobility. In particular, we are delighted to welcome global energy company Total, a leader in the energy transition. As an investor and strategic partner, their experience, technology and infrastructure to supply clean energy, including hydrogen, around the world will be important to the success of HYZON.”
Girish Nadkarni, Chief Executive Officer at Total Carbon Neutrality Ventures, said: “Total Carbon Neutrality Ventures invests in early stage companies which support Total’s ambition to get to net-zero emissions by 2050, together with society. Its investments allow us to expand the reach of our low carbon- businesses beyond our own borders.
“About a decade ago, Total has set up the H2 Mobility joint venture, alongside other industry partners, to develop the hydrogen mobility ecosystem. Since then, we have developed several H2-related mobility projects, mainly in Europe. Building on this experience, Total is now moving forward in decarbonizing not only mobility -and notably heavy-duty transport- but also industry and energy.
“We are pleased to partner with Hyzon, one of the leading suppliers of hydrogen fuel-cell powered commercial vehicles and look forward to working closely with them as they expand their operations around the world.”