The European Investment Bank (EIB) has agreed to sign a €25 million venture debt facility with Resato Hydrogen Technology, based in Assen, Netherlands. This financing will be used to enhance the firm’s research and development efforts, enhance production capacity and accelerate the expansion of hydrogen refuelling stations across Europe.
Resato is one of the supporters that aims to tender 1,000 hydrogen refueling stations by 2030 within its commitment for the EU Sustainable and Smart Mobility Strategy. For the short-term, it has moved into a new facility to double its output in order to keep pace with fast-growing demand for hydrogen infrastructure.
EIB’s Commitment to Hydrogen and Green Transition
EIB Vice President Robert de Groot said, “Going forward, hydrogen will definitely be part of the energy mix. 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.”
Hydrogen will provide decarbonisation for sectors such as transport, and technology from Resato will support the move toward reducing emissions in the fossil fuel sector. Hydrogen can be used in heavy-duty transport, like buses and trucks, and for long-distance travels with good ranges and minimal emissions.
Challenge to the Infrastructure
Hydrogen faces the so-called “chicken-and-egg” problem: low vehicle demand due to limited refueling stations. Resato’s refuelling technology provides a reliable network, making hydrogen-powered vehicles more accessible and appealing to consumers.
As Resato grows, it will create significant job opportunities in the northern Netherlands. The company currently employs 170, and it promises to increase the count to 500 and to 1,000 by 2030. The growth of Resato will also create a number of jobs in the local supply chain. This will further boost the regional economy.
To meet the labor demand of the hydrogen sector, Resato launched the H2 Academy and partnered with several universities to provide specialized training. This will help in developing a new generation of professionals for the growing clean energy industry.
Also read: EIB and Findomestic To Promote Sustainable Living Through Green Financing
Resato’s Achievements and Market Leadership
Resato Hydrogen Technology has been leading hydrogen refuelling solutions in Europe. In 2019, the company inaugurated the first large hydrogen refuelling station in the Netherlands and has gone on to sell 55 units in the last two years across the continent. These stations serve hydrogen-powered trucks, buses, cars, and trains. Resato also builds the largest hydrogen refuelling station, with a 2,000 kg per day capacity, currently operated by Hypion in Germany.
Innovations and focus on the expansion of hydrogen refuelling infrastructure, among other things, position the company at the forefront in Europe’s sustainable energy transition.
