Chevron U.S.A. Inc. has taken the lead in a funding round for hydrogen distribution and fueling business OneH2.
This investment, alongside support from current investors Trafigura and The Papé Group, aims to accelerate the development and deployment of mid-scale hydrogen generators and fuel distribution solutions. The ultimate goal is to provide lower carbon solutions, heralding a promising shift in the energy landscape.
Chevron’s strategic decision to invest in OneH2 signifies its commitment to exploring diverse energy sources and technologies. This move aligns with Chevron’s mission to deliver affordable, reliable, and cleaner energy to facilitate human progress. By backing OneH2, Chevron intends to play a pivotal role in advancing hydrogen as a viable, practical, and economical energy source.
Nuray Elci, Chevron’s General Manager of Renewables, emphasized the importance of lower carbon intensity hydrogen as a fuel source in reducing emissions. Chevron envisions partnering with OneH2 and other stakeholders to develop the infrastructure necessary for hydrogen vehicles, propelling this innovative technology forward.
OneH2, led by President and CEO Paul Dawson, has a clear vision of transforming the energy landscape through hydrogen solutions. This strategic funding round marks a significant step in realizing that vision. The company’s focus on mid-scale hydrogen generators and fuel distribution solutions aligns with the growing demand for cleaner energy alternatives, particularly in the transportation sector.
Paul Dawson expressed his enthusiasm about collaborating with Chevron, one of the world’s largest vertically integrated energy companies. He also highlighted the unwavering support from existing investors, emphasizing their pivotal role in shaping OneH2’s trajectory and advancing the broader hydrogen industry.
The additional investment by Trafigura and The Papé Group underscores their confidence in OneH2’s strategic direction and its ability to bring practical hydrogen fueling technology to the market. Trafigura’s Head of Renewables and Strategic Investments, Julien Rolland, emphasized their support for OneH2’s progress and scalability, highlighting the growth inflection point the company is approaching.
Jordan Papé, President and CEO of The Papé Group, stressed their commitment to providing solutions that maximize customer uptime while staying attuned to regulatory trends in the lower carbon energy sector. The investment in OneH2 aligns with their mission to continue offering forward-looking solutions to their customers.
As hydrogen gains prominence as a cleaner energy source, investments like Chevron’s in OneH2 play a crucial role in propelling hydrogen adoption in the United States. The focus on developing hydrogen infrastructure, coupled with the commitment of industry leaders and investors, underscores the potential for hydrogen to reshape the energy landscape.
The collaboration between Chevron, OneH2, Trafigura, and The Papé Group represents a significant step towards a more sustainable and environmentally responsible future. It demonstrates the collective commitment of these entities to explore and invest in technologies that reduce carbon emissions and contribute to a greener world.