Phillips 66 and H2 Energy Europe Enter Into Hydrogen Refueling Station Venture
HOUSTON — Phillips 66 and Zurich, Switzerland-based H2 Energy Europe have entered into a 50-50 joint venture to set up and operate a network of hydrogen refueling retail sites in Germany, Austria and Denmark.
The new venture, to be called JET H2 Energy, will combine the retail expertise of Phillips 66 and the hydrogen expertise of H2 Energy.
Company officials said the new company plans to develop approximately 250 hydrogen refueling stations by 2026.
“We will make hydrogen a leading energy solution for emission-free mobility,” said Olaf Borbor, chief executive officer of JET H2 Energy in a written statement.
“We will align stakeholders’ interests along the hydrogen value chain and create a sustainable hydrogen ecosystem,” Borbor added.
JET H2 Energy’s network of hydrogen refueling stations for heavy- and light-duty and passenger vehicles will comprise existing JET® branded retail stations as well as new locations on major transport routes and at customer sites.
JET H2 Energy will require governmental funding, where applicable, for the development of the refueling network.
The company intends to supply its sites with green hydrogen and build relationships with customers and original equipment manufacturers.
Green hydrogen is a zero-carbon energy carrier and fuel that is produced by splitting water into hydrogen and oxygen using renewable electricity. In vehicles, hydrogen is converted to electricity in fuel cells that power cars and trucks, with water being its only emission.
As part of the venture, Swiss-headquartered H2 Energy Europe is developing a 1-GW electrolysis plant in Denmark capable of generating roughly 100,000 metric tons a year of green hydrogen from electricity sourced from offshore wind to supply the transportation and energy sector in northern Europe.
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