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Phillips 66 and H2 Energy Europe close on JV to create European network of H2 refueling stations

Phillips 66 and H2 Energy Europe announced they have closed on a 50-50 JV to set up and operate a network of H2 refueling retail sites in Germany, Austria and Denmark.

JET H2 Energy Austria GmbH, the joint venture between subsidiaries Phillips 66 Limited and H2 Energy Europe SA, will combine the retail expertise of Phillips 66 and the H2 expertise of H2 Energy and be well positioned to boost the development of H2 in Europe. The new company plans to develop approximately 250 H2 refueling stations by 2026.

“We will make H2 a leading energy solution for emission-free mobility,” said Olaf Borbor, Chief Executive Officer of JET H2 Energy. “We will align stakeholders’ interests along the H2 value chain and create a sustainable H2 ecosystem.”

JET H2 Energy’s network of H2 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 H2 and build relationships with customers and original equipment manufacturers. Green H2 is a zero-carbon energy carrier and fuel that is produced by splitting water into H2 and oxygen using renewable electricity. In vehicles, H2 is converted to electricity in fuel cells that power cars and trucks, with water being its only emission.

JET H2 Energy will benefit from its close ties with Hyundai H2 Mobility, the exclusive European reseller of the Hyundai Xcient H2 fuel cell truck.

“Phillips 66 has a successful retail presence in Europe with its JET brand,” Borbor said. “H2 Energy has a proven track record in creating a successful green H2 ecosystem in Switzerland. The parties’ competencies complement each other ideally for the next stage in building up the H2 economy.”

H2 Energy is developing a 1-gigawatt electrolysis plant in Denmark capable of generating roughly 100,000 metric tpy of green H2 from electricity sourced from offshore wind to supply the transportation and energy sector in northern Europe.

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