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.