HysetCo, a Paris-based leader in hydrogen mobility solutions, has successfully raised nearly €200M in a funding round led by Hy24, significantly advancing its efforts to decarbonize urban transport. The round also saw contributions from RAISE Impact and Eiffel Investment Group, propelling HysetCo towards achieving its sustainability goals.
The capital raised will empower HysetCo to expand its hydrogen mobility solutions across France and Europe. With Hy24 becoming the majority shareholder, the company is well-positioned to accelerate its development and implementation of hydrogen-fueled transportation systems.
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Expanding Impact and Ensuring Sustainability
HysetCo, renowned for operating the first network of hydrogen distribution stations in France, is intensifying its initiatives to promote cleaner transportation options. The company manages a fleet of over 500 hydrogen vehicles and distributes nearly 30 tonnes of hydrogen each month. The fresh funding will allow HysetCo to enhance its integrated hydrogen vehicle rental services and bolster its infrastructure, which includes access to hydrogen stations and comprehensive vehicle services like purchasing, maintenance, insurance, and training.
Strategic Growth and Decarbonization Efforts
Loïc Voisin, CEO of HysetCo, expressed gratitude and enthusiasm for the new phase of growth enabled by this substantial financial backing. The company aims to contribute to a swift and effective transition towards a low-carbon society while improving air quality. The support from Hy24 and other co-investors not only validates HysetCo’s mission but also magnifies its ability to deploy hydrogen mobility solutions on a larger scale.
Hy24’s investment underscores its commitment to investing in clean hydrogen projects as part of its broader decarbonization strategy. Through its Clean Hydrogen Infrastructure Fund, Hy24 collaborates with a network of partners across the clean hydrogen value chain, from production to usage, to facilitate the development of vital energy infrastructure.
Leading the Clean Mobility Transition
The successful funding round positions the french company at the forefront of the movement towards carbon-free mobility solutions. The company’s scalable model is designed to be replicated across major cities, making it a pivotal player in transforming transportation systems to be more sustainable and efficient.
This financial milestone is a testament to the growing recognition and adoption of hydrogen as a viable solution for decarbonizing the transport sector, particularly in applications requiring intensive use and heavy-duty capabilities. HysetCo’s advancements in hydrogen mobility are set to play a crucial role in shaping a sustainable future for urban environments across Europe and beyond.
