In order to achieve this, the companies will establish a 50-50 joint venture and will boost the European hydrogen mobility sector and cater for the rising demand by establishing a vast amount of retail refuelling stations.

The European subsidiaries of Phillips 66 and H2 Energy will leverage their capabilities to develop a retail network, bringing together hydrogen supply, refuelling logistics and vehicle demand.

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The parties aim to supply the retail refuelling network with green hydrogen with demand anticipated in part through H2 Energy’s ownership in Hyundai Hydrogen Mobility, a retail and distribution partner in Europe for Hyundai’s commercially available heavy-duty fuel cell electric truck.

The joint venture’s future network of hydrogen refuelling stations in Germany, Austria and Denmark will comprise existing JET®-branded retail stations as well as new locations on major transport routes.

H2 Energy will be responsible for integrating hydrogen production, supply and the refuelling apparatus through its wholly owned and affiliated entities. Government support will be required for the implementation of the refuelling network.

Rolf Huber, founder of H2 Energy, said, “We consider hydrogen and fuel cell technology an enabler of the energy transition. It buffers excess electricity production, and stores and distributes energy that has been produced by renewables.”

Brian Mandell, Executive Vice-President of Marketing and Commercial at Phillips 66, said, “At Phillips 66, we believe that expanding access to hydrogen is critical to achieving a lower-carbon future.

“We’re excited to join forces with H2 Energy, which has demonstrated success in developing technology assets across the hydrogen value chain.”