Phillips 66 closes joint venture to develop network of hydrogen stations in Europe

The retailer will create JET H2 Energy alongside H2 Energy Europe to set up and operate the sites set to be opened in Germany, Austria and Denmark.

Phillips 66 and H2 Energy Europe have closed a 50-50 joint venture for the development of a network of hydrogen stations across several European countries. JET H2 Energy Austria GmbH has been established to set up and operate the installations to be built in Germany, Austria and Denmark.

Both firms will combine its retail experience and the expertise on the alternative fuel to boost its development across the continent. Nearly 250 hydrogen service stations for heavy and light-duty passenger vehicles are planned to be set up in the countries by 2026, with a resulting network comprising newly built locations and existing Jet branded retail sites.

“We will make hydrogen a leading energy solution for emission-free mobility. We will align stakeholders’ interests along the hydrogen value chain and create a sustainable hydrogen ecosystem,” said Olaf Borbor, Chief Executive Officer of JET H2 Energy. The newly formed firm will require governmental funding, where applicable, for the development of the refuelling network.

The original announcement was made last February, when the official statement specified that U.K.-based Phillips 66 Limited, a subsidiary of Phillips 66, will join up with Swiss-headquartered H2 Energy, a joint venture between Trafigura and H2 Energy Holding AG. The former has a strong retail presence in the continent, with more than 1,000 Jet-branded stations and a growing hydrogen refuelling network in Switzerland as part of its participation in the Coop Mineraloel AG joint venture, while the latter was the first to develop and deliver hydrogen fuel cell trucks to commercial users and creating a green hydrogen fuelling ecosystem in Switzerland.

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