Total announces the acquisition of a stake in Hysetco, a French company dedicated to the development of hydrogen mobility in cities. Hysetco owns the largest fleet of hydrogen taxis in the world, launched in 2015 and operated in the Île-de-France region under the Hype brand, as well as hydrogen stations.
The Hype project aims to demonstrate for the first time on a large scale the viability of zero-emission hydrogen vehicles for urban mobility.
With the acquisition of a 20% stake, Total joins Hysetco’s historical shareholders: STEP (Société du Taxi Electrique Parisien), Air Liquide, Toyota and Kouros.
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Hysetco currently owns around 700 taxis in Paris, with still a majority of diesel vehicles that will transition gradually to become exclusively comprised of hydrogen vehicles by 2024. The hydrogen taxis are fueled by a dedicated network of hydrogen stations operated by Hysetco. This network is expected to expand in the coming years to support the growth of hydrogen vehicle fleet. Total will make its network of service-stations available to Hysetco to contribute to the growth of this network of hydrogen stations.
“This acquisition is a concrete commitment and an acceleration for Total in hydrogen mobility. We are delighted to be working with partners whose skills and expertise complement each other throughout the hydrogen vehicle value chain,” declared Patrick Pouyanné, Chairman and CEO of Total. “After investing in the new Bélib’ network of charge points for electric vehicles, Total is contributing to position Paris as a showcase for new carbon-neutral urban mobility for businesses and consumers. Total is thus continuing to accelerate its transformation into TotalEnergies, a leading broad-energy player in the energy transition.”
Date: May 27, 2021
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