The EIB funding will be used to boost Resato Hydrogen Technology’s production capacity to 1,000 hydrogen refuelling stations by 2030, according to the firm.
Resato Hydrogen Technology has secured a €25m venture debt facility with the European Investment Bank (EIB) to ramp up production at its facility in Assen, in the north of the Netherlands, and boost its research and development.
Since opening its first big hydrogen refuelling station in The Hague in 2019, Resato has sold more than 55 public and private units that supply hydrogen to trucks, buses, cars, and trains throughout Europe. Due to their great range, vehicles that run on hydrogen are particularly efficient for heavy-duty transport or covering long distances, the company said.
“Going forward, hydrogen will definitely be part of the energy mix,” said EIB vice president Robert de Groot. “The green and energy transitions also depend on making sure that the right kind of infrastructure is in place to support the adoption of alternative fuels. The bank is happy to support yet another high-tech hydrogen project developed in the Netherlands, which shows how innovative Europe can be when it has the right resources.”
Resato will use the EIB funding to boost its production capacity to 1,000 hydrogen refuelling stations by 2030. The company expects to employ between 500 and 1,000 workers by then, compared with its current workforce of 170. A similar number of new jobs may be created within the regional supply chain during the same period, Resato said.
“With this support, we are further empowered to accelerate the hydrogen refuelling infrastructure,” said Rob Castien, chief executive officer of Resato. “Hydrogen not only offers a clean energy solution but also reduces grid congestion, supporting Europe’s transition to a sustainable energy system.”
The EIB loan is supported by the European Commission under its InvestEU initiative.
As covered previously in Impact Investor, decarbonisation and reaching net-zero carbon emissions will require $5trn (€4.9trn) of cumulative investments, which for hydrogen generation alone could mean a total available market of $1trn by 2050.
