H2Accelerate secures €30m in funding from major groups to deploy hydrogen trucks and refueling infrastructures across Europe.
Here’s an article posted in fleet point that talks about H2Accelerate’s investment on hydrogen stations in Europe.
According to the article,
- H2Accelerate is a collaboration focused on advancing the use of hydrogen for long-haul trucking in Europe.
- It has secured significant funding for two key initiatives: H2Accelerate TRUCKS and Inaugural Station Deployment.
Here are some trends in the same sector, seen from around the world:
- Hydrogen Fuel Cell Truck Market: The global hydrogen fuel cell truck market was valued at approximately $0.18 billion in 2022 and is projected to grow to $3.7 billion by 2032, reflecting a compound annual growth rate (CAGR) of 36% from 2023 to 2032. This growth is attributed to the increasing demand for zero-emission vehicles and stricter environmental regulations across various regions.
- Hydrogen Fueling Station Market: The hydrogen fueling station market was valued at approximately $602.76 million in 2022 and is expected to grow at a CAGR of 21.23%, reaching about $4.13 billion by 2032. The Asia-Pacific region holds a significant share of this market, driven by pilot projects and investments in hydrogen infrastructure, particularly in countries like China, Japan, and South Korea.
- Reliance Industries plans to invest $10 billion to convert 5,000 internal combustion engine trucks to hydrogen-powered vehicles by mid-2024. This initiative includes establishing a network of hydrogen dispensing stations along major routes, showcasing a commitment to building a hydrogen economy.
- Companies like Nikola Motors are actively expanding their fleets of hydrogen fuel cell trucks and investing in hydrogen infrastructure. Nikola has already delivered several hydrogen trucks and is working on establishing refueling stations to support their operations.
Interestingly, we have some other posts related to this content:
Our specialty focus areas include
- Hydrogen Trucks (HyCET) Research Project, Goals, Challenges: Develop hydrogen trucks for long-distance transport logistics. Hydrogen crucial for storing renewable energy for extended periods1.
- Ammonia-Powered Truck Unveiled by Amogy: Amogy unveils world’s first ammonia-powered truck, cracking ammonia into hydrogen on board to power electric drivetrain through a fuel cell1.
- Hydrogen-Powered Truck Pilot Launched By Adani, Ashok Leyland, and Ballard Power Systems: Collaboration for hydrogen fuel cell electric truck pilot project aiming to develop FCET for mining logistics and transportation in India
