According to tech.eu, an energy company from Germany, H2 Mobility, raised 110 million euro to improve the infrastructure for vehicles that will run on hydrogen.

Some of the investors that participated in this round are hydrogen investment platform Hy24, Hyundai Motor co. and OMV.

H2 Mobility plans to use the fresh funding in order to improve the existing fueling stations and to expand on it with new hydrogen stations to meet the increasing demand for commercial vehicles in Europe.

The company targets some of the more frequented roads for its hydrogen stations expansion with 200 more stations, aiming to improve its position as a key energy company for mobility in the European Union.

The team has so far set up more than 50 hydrogen filling stations and operates over 90 hydrogen stations.

Nikolas Iwan, managing director at H2 Mobility, said that "green hydrogen will be a decisive factor on the way to emission-free mobility and reducing independence from limited raw material reserves. The next step is to create stations with more refueling capacity to be ready for the expected ramp-up of intensive use vehicles, in particular trucks and buses, due to come from the auto manufacturers."

Pierre-Etienne Franc, CEO at Hy24 and manager of Clean H2 Infra Fund, added that "hydrogen is a crucial part of the European Union's 'Fit for 55' plans, underlined by the recent REPowerEU proposal. Our investment alongside pioneers also supports the European Commission's efforts to implement the Alternative Fuels Infrastructure Regulation (AFIR) to significantly expand the European hydrogen refueling network."