Network based systems

Phillips 66 and H2 Energy Europe will develop a hydrogen refueling network in Germany, Austria and Denmark

Companies form joint venture to develop up to 250 hydrogen fueling stations by 2026

Phillips 66 (NYSE:PSX) and H2 Energy Europe (“H2 Energy”) today announced their commitment to develop up to 250 retail hydrogen fueling stations in Germany, Austria and Denmark by 2026 through through a 50-50 joint venture between their subsidiaries, Phillips 66 Limited and H2 Energy Europe AG. The agreement is subject to customary regulatory approvals and closing conditions.

Phillips 66 Limited is a UK-based wholly owned subsidiary of Phillips 66, a diversified energy manufacturing and logistics company. Phillips 66 has a strong retail presence with over 1,000 JETs®branded stations in Europe and a growing hydrogen refueling network in Switzerland through its participation in the joint venture Coop Mineraloel AG.

H2 Energy, headquartered in Switzerland, is a joint venture between commodity trading company Trafigura Pte Ltd. and H2 Energy Holding AG, a leading hydrogen supplier in Europe with investments in the production, distribution and use of green hydrogen. Through its affiliated companies, H2 Energy was the first to develop and deliver hydrogen fuel cell trucks to commercial users and create a green hydrogen fueling ecosystem in Switzerland.

“We see hydrogen and fuel cell technology as a catalyst for the energy transition,” said Rolf Huber, founder of H2 Energy. “It buffers excess electricity generation and stores and distributes energy that has been generated by renewables.”

The European subsidiaries of Phillips 66 and H2 Energy will leverage their capabilities to develop a distribution network, bringing together hydrogen supply, refueling logistics and vehicle demand. The parties aim to supply the retail refueling network with green hydrogen, as available. Demand is anticipated in part through H2 Energy’s stake in Hyundai Hydrogen Mobility, a retail and distribution partner in Europe for Hyundai’s commercially available heavy-duty fuel cell electric truck.

“At Phillips 66, we believe expanding access to hydrogen is key to achieving a low-carbon future,” said Brian Mandell, executive vice president, marketing and sales, Phillips 66. “We are delighted to partner with H2 Energy, which has a proven track record in developing technology assets across the entire hydrogen value chain.

The joint venture’s future hydrogen refueling station network in Germany, Austria and Denmark will include the existing JET®-branded retail stations as well as new locations on major transportation routes. H2 Energy will be responsible for the integration of hydrogen generation, supply and refueling apparatus through its wholly owned and affiliated entities. Government support will be necessary for the establishment of the supply network.

H2 Energy recently unveiled plans to build a 1 gigawatt smelter plant in Denmark capable of generating up to 90,000 metric tons per year of green hydrogen from electricity from offshore wind.

About Philips 66

Phillips 66 is a diversified manufacturing and energy logistics company. With a portfolio of midstream, chemical, refining and marketing and specialty businesses, the company processes, transports, stores and markets fuels and products worldwide. Based in Houston, the company has 14,000 employees committed to safety and operational excellence. Phillips 66 had $56 billion in assets as of December 31, 2021. For more information, visit www.phillips66.com or follow us on Twitter @ Phillips66Co.

About H2 Energy

H2 Energy was established in Zurich, Switzerland in 2014 with the vision of playing an active role in the fight against climate change. The company wants to make hydrogen from renewable energy a cornerstone of the energy system by expanding the entire value chain through production, distribution and consumption in a sustainable and economical way. H2 Energy operates across the entire hydrogen value chain by offering know-how and engineering at each stage. The company draws on many years of experience, particularly in the creation of hydrogen production plants, the establishment of hydrogen refueling stations and in the engineering of fuel cell applications at hydrogen. In 2020, Trafigura and H2 Energy announced a commercial collaboration to develop the production, storage and distribution of green hydrogen for service stations and industrial customers. Under the H2 Energy Europe joint venture, the two companies will invest in green hydrogen ecosystems across Europe. Visit: www.h2energy.ch

About Trafigura

Founded in 1993, Trafigura is one of the largest physical commodities trading groups in the world. At the heart of global sourcing, Trafigura connects the world to the vital resources it needs. Through our Oil & Petroleum Products, Metals & Minerals, and Power & Renewables divisions, we deploy infrastructure, skills and a global network to move raw materials from where they are abundant to where they are most needed. needed, building strong relationships that make supply chains more efficient. , safe and durable.

Trafigura also owns and operates a number of industrial assets, including a majority stake in global multi-metals producer Nyrstar and fuel storage and distribution company Puma Energy; and joint ventures Impala Terminals, a port and logistics provider, and Nala Renewables, a power and renewable energy investment and development platform. With more than 1,000 shareholders, Trafigura is employee-owned and employs more than 13,000 people working in 48 countries. Visit: https://www.trafigura.com

PHILLIPS 66 DISCLAIMER FOR THE PURPOSES OF THE “SAFE HARBOUR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors thus created. . Forward-looking statements can be identified by the use of words such as “plans”, “expects”, “will”, “anticipates”, “believes”, “intends”, “projects”, “targets », « esteem » or other words of the same meaning. Forward-looking statements are based on certain assumptions and expectations of future events which may not be accurate or realized, and involve risks and uncertainties, many of which are beyond Phillips 66’s control, including, but not limited to, regulatory approvals and market conditions. A discussion of factors that could affect future results is included in Phillips’ 66 filings with the Securities and Exchange Commission. Phillips 66 disclaims any responsibility and assumes no obligation to update or revise any forward-looking statement, except as required by applicable law.



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