OneH2 excels in the hydrogen race this week
From collaborating with the top tier automaker to bringing the deep pock investors on the table is what OneH2 has achieved this week.
OneH2, Inc. is a vertically integrated hydrogen fuel company, HQ in North Carolina, US. It provides hydrogen fuelling infrastructures such as hydrogen production, storage and dispenser systems for industrial vehicle and truck markets. It also supplies hydrogen fuel for forklifts across the US.
This week it joined General Motors, a US multinational automaker, and Navistar, Inc., a Navistar International Corporation subsidiary to develop a solution for a zero-emission long-haul system, initially tried on JB Hunt Transport, Inc. Navistar is taking a minority stake in OneH2.
Hydrogen has been coined an ideal solution for long hauls fleets in a fight against reducing carbon emission. Besides the environmental advantages, it also provides additional benefits such as higher energy density, fast refuelling, and resolving the range anxiety issue.
Navistar aims to launch its International® RH™ Series fuel cell electric vehicle (FCEV) by 2024, where trials starting from next year. The vehicles will be installed with two GM Hydrotec fuel cell power cubes; each one of them includes over 300 hydrogen fuel cells with thermal and power management systems. OneH2 agrees to add over 2,000 International® RH™ Series FCEVs into its fleet when ready and offers its full hydrogen fuelling solution.
Following the collaboration news, OneH2 also announced to have raised funds from the leading companies including Sumitomo Corporation of Americas, Trafigura, Navistar International Corporation, and the Papé Group. The investment round was led by Houston based Buckeye Partners, which also made an equity investment in OneH2. The capital will be used to grow its hydrogen infrastructure.
In 2019, OneH2 acquired Nuvera Fuel Cells, LLC (a subsidiary of Hyster-Yale Materials Handling, Inc). The acquisition helped it get to access to small scale hydrogen generators, which Nuvera sell under the PowerTap® brand. Given that OneH2 provides production, installation and deployment of refuelling infrastructure, the acquisition was an ideal addition to its hydrogen production technology.
