Iwatani Corporation of America and Toyota Collaborate to Bring Seven New Hydrogen Refueling Stations to Southern California

Iwatani Corporation of America, a wholly owned subsidiary of Iwatani Corporation (Tokyo Stock Exchange: 8088) and Toyota Motor North America (NYSE: TM) jointly announced today that Toyota will support Iwatani's plans to significantly expand the number of open retail hydrogen fueling stations by nearly 25 percent in Southern California and represents an increase of 6,300 kilograms per day of hydrogen fuel dispensing capacity. Construction of the new stations is anticipated to commence in early 2021 followed by commissioning of the first stations by midyear. All seven stations will be open to the public, providing hydrogen fuel to consumers in support of the rapidly growing demand for zero-emission fuel cell electric vehicles (FCEVs).

The seven new retail stations will deploy the latest H2Station™ hydrogen fuel dispensing technology provided by Nel Hydrogen. Each station will have two fueling positions and each will be capable of supplying up to 900 kilograms of hydrogen per day.

This expansion is Iwatani's largest to date single investment in California and will bring the company's total global hydrogen refueling station network to 64.

Joseph S. Cappello, CEO of Iwatani Corporation of America, commented, "Iwatani is truly privileged to collaborate with Toyota and Nel Hydrogen, two leaders in the Hydrogen Society, to bring world-class, hydrogen re-fueling technology to the California mobility market. The seven new stations in California are the latest demonstration of Iwatani's commitment to investing in California's light and heavy-duty hydrogen infrastructure and to create new jobs in the state."

"Expanding the refueling station infrastructure in California is evidence of the growing demand for zero emission vehicles, we look forward to supporting Iwatani America in this next phase," said Doug Murtha, Toyota Motor North America's group vice president of corporate strategy and planning. "Our second generation and all-new 2021 Toyota Mirai will be arriving at dealers later this year, so it's the perfect time to grow the hydrogen fueling network."

Ulrik Torp Svendsen, Key Account Manager, Nel Hydrogen commented, "From Nel we are very honored that Iwatani and Toyota have selected our H2Station™ hydrogen fueling station solutions for strengthening the hydrogen infrastructure in Southern California. The stations will serve existing as well as new fuel cell electric vehicles, such as the next generation Toyota Mirai, with zero-emission fuel, at the same convenience as conventional fuels. With our Nel Inc. entity currently based in the San Francisco area we now look forward to expanding our business in California and supporting Iwatani."