Trafigura has made an equity investment in OneH2, Inc., headquartered in North Carolina, USA, a provider of hydrogen fuel supply and logistics solutions. OneH2 provides scalable hydrogen fuel production systems coupled with cost-effective delivered hydrogen fuel for use in transportation markets across a growing network in North America. OneH2 currently serves the forklift market and is developing projects for the heavy truck market as well as other transportation sectors.
ONEH2 FORMS MAJOR STRATEGIC INVESTOR GROUP TO ADVANCE HYDROGEN LOGISTICS NETWORK
Through a recently closed investment, OneH2 (the “Company”) announces strategic additions to its investor group whose collective interest is in continuing the build- out of OneH2’s existing hydrogen system, creating a national fuel production and distribution network to serve transportation markets with full service solutions of competitively priced hydrogen.
Led by Houston based Buckeye Partners, the investment round also includes Trafigura, Sumitomo Corporation of Americas, Navistar International Corporation, and the Papé Group to add to existing investors such as Wheeler Material Handling.
The Company draws extensively on its relationships with investors, whose wealth of capability includes ownership, management and trading of energy and energy infrastructure as well as a major presence on the fuel demand side through forklift, auto and truck manufacturing and dealerships.
The growth capital will be used to deploy full turn-key hydrogen infrastructure solutions, with OneH2 providing modular hydrogen production units, storage and dispensing at the point of refueling, which is often on-site at logistics and distribution centers to provide fuel for forklift and truck fleets. Retail points of sale, such as truck service centers and gas stations, also provide a large future opportunity for the Company as adoption of hydrogen for truck and passenger vehicle fleets continues building. It is envisaged that the modular units combined with the Company’s investments in fuel production hubs will form an efficient and highly scalable hydrogen fuel network.