Total invests in hydrogen power cells for trucks

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The French fuel giant Total invests in the US startup Hyzon Motors, which makes hydrogen fuel cells for trucks. Total thus aims to promote the development of cleaner energy sources.

It is not known how much money is put into the start-up, but the total investment round, which other companies also participated in, was more than USD 15 million and could rise to USD 20 million, according to the sources. The value of Hyzon Motors is estimated at about $ 200 million.

Total has already invested in other renewable energy sources, such as the production of batteries for electric cars and biofuels.

Hyzon originates from Horizon Fuell Cell Technologies, a company from Singapore. This has been developing technology for hydrogen cells for commercial purposes for over 17 years. The startup develops large oil rigs, buses and coaches that work on hydrogen.

Hyzon plans to use the funding to build fuel cells at headquarters, a former General Motors facility in Honeoye Falls, New York. In July, it announced that Hyzon plans for a plant in the Netherlands, as part of a joint venture, with Holthausen, Clean Technology, EG. The company expects over the next three years, about 5,000 trucks on the fuel supply and would, by 2025, each year of which 40,000 vehicles, the technology is provided.

About the author

Nicholas de Kramer

Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at [email protected]

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