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Hy24 acquires majority stake in HysetCo to boost hydrogen cabs

Hy24 invests 200 million euros to become a majority shareholder in HysetCo, accelerating the expansion of the hydrogen cab fleet in the Paris region.

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Hydrogen fund Hy24 has announced a major investment to strengthen HysetCo’s presence in the eco-taxi sector. This substantial investment is an important milestone for sustainable mobility in Paris. This financing of almost 200 million euros is intended to pay off HysetCo’s debt and expand both its network of hydrogen stations and its fleet of over 500 vehicles.

Infrastructure development

HysetCo currently operates four hydrogen filling stations at strategic locations such as Orly, Roissy, Le Bourget and Porte de Saint-Cloud in Paris. With the new funding, the company plans to open “a dozen other stations in the Paris region by 2025”.

Partner commitment

The investment in HysetCo was made by Hy24 through its dedicated infrastructure fund, the “clean H2 Infra fund”. Existing partners and shareholders, including Eiffel Investment, Raise, Air Liquide, TotalEnergies, Toyota, and Kouros, continue their support.

Environmental impact and management declaration

“Hydrogen can help decarbonize transport, without CO2 emissions, provided it is derived from a green manufacturing process or decarbonized itself,” said Hy24 management. Pierre-Etienne France, co-founder and CEO of Hy24, also noted that “The decarbonization of our energy models remains incomplete in transport, where dependence on fossil fuels is highest”.

Hy24’s investment in HysetCo represents a significant step towards increasing the use of hydrogen in urban transport, aligning Paris with the goals of sustainable development and reducing carbon emissions.

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