Europe
Accelerating the deployment of integrated hydrogen mobility solutions to decarbonize transport
HysetCo, a pioneering hydrogen mobility company and European leader, has developed a unique position with the first network of hydrogen distribution stations in France and an integrated hydrogen vehicle rental offer including all the necessary services. Growing rapidly, HysetCo now distributes nearly 30 tonnes of hydrogen to its customers every month and manages a fleet of more than 700 hydrogen vehicles.
HysetCo
Type of investment
Country: France
Fund: Hy24, Clean H2 Infra Fund. Participation into a roundtable investment of €200M. Hy24 becoming major shareholder of the company.
Date: April 2024
Sector: Brownfield / Downstream – Hydrogen mobility
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In April 2024, HysetCo announced that it had raised nearly €200 million from a group of investors led by Hy24 (investing through its Clean Hydrogen Infra Fund) to accelerate the deployment of its integrated hydrogen mobility solutions.
HysetCo and Hy24 share a common vision of the urgent need to decarbonize mobility and improve air quality, and of the key role of hydrogen in facilitating and accelerating this necessary transition. Hydrogen is a strategic energy carrier that offers a relevant mobility solution for intensive use and heavy transport, for captive fleets and light commercial vehicles (LCVs). This zero-emission mobility solution has a number of advantages: it's silent, odorless and vibration-free, and is easy to use thanks to refueling in just 3 to 5 minutes, giving a range of over 600 km.
Operating the largest hydrogen station in Europe
In June 2023, HysetCo inaugurated a hydrogen refueling station at Porte de St Cloud in Paris. This station, the largest in Europe, has the capacity to produce and distribute up to 1 tonne of low-carbon hydrogen per day.
By July 2024, the HysetCo network includes 8 hydrogen stations in the Paris region. Open to the public 24/7, these stations provide customers with efficient access to low-carbon mobility solutions. The network is poised for further expansion, with HysetCo planning to open around ten new stations in the medium term to support several thousand hydrogen vehicles. This rapid rollout solidifies HysetCo's leading role in offering easy, practical, and efficient access to zero-emission hydrogen, an especially relevant mode of transport for intensive use. HysetCo customers travel 3 million kilometers monthly in hydrogen vehicles.
Structuring an integrated offer of hydrogen stations and vehicles
"The successful fundraising of nearly €200 million marks the beginning of a new era for HysetCo. This era will see us intensifying our expansion across France and Europe, contributing more actively to a tangible, rapid, and efficient transition to a low-carbon society, and improving air quality. We are enthusiastic and proud of the confidence shown by Hy24, our historic shareholders, and our co-investors in this venture. Their support validates our mission and ambition, empowering us to scale up hydrogen mobility deployment significantly. This milestone is historic for all our employees, customers, and partners involved in the growth of our industry."
Key figures
500
professionals who have already adopted the hydrogen solution (primarily taxi drivers)
nearly30tonnes
of hydrogen distributed each month by HysetCo to its customers
More than20M
Zero-emission (tailpipe) kilometers traveled by HysetCo customers in 2023