Resato borrows EUR 25 million from EIB for hydrogen ambitions
With EUR 25 million from the European Investment Bank (EIB), Resato Hydrogen Technology will expand its production capacity and take its own technology to the next few years. This should help the company with its ambition to have a network of 1,000 hydrogen filling stations by 2030.
This so-called venture capital financing “supports the expansion of Resato’s production capacity in Assen, which is expected to create more jobs in the region”. Where the company now employs 170 people in the north of the Netherlands, this is expected to grow to between five hundred and one thousand in the coming years.
In the stated ambition of one thousand tank locations, increasing production capacity is a key factor. Resato plans to move to a new location with the potential to scale up production by 2025.
“Scaling up production capacity does carry the challenge of finding technically skilled staff. This is why Resato set up itsH2 Academy last November, a collaboration with universities and local educational institutions through which specialised training programmes for a career in the hydrogen industry are offered.”
Heavy transport
Especially in view of grid congestion and the resulting limited availability of power for charging electric vehicles, among other things, Resato sees a bright future for hydrogen. Especially for heavy transport and transport over longer distances, there are opportunities, the company believes. The action radius of hydrogen-powered vehicles is already there, but a covering network of refuelling locations is still lacking. The European grant will help Resato make strides in this regard.
The company’s CEO calls the award of the money “quite an honour” because it confirms Resato’s vision and ambition. “With this support, we are even stronger to further accelerate the rollout of hydrogen refuelling infrastructure. Hydrogen is not only a solution as clean energy, but also helps relieve pressure on the electricity grid, thus supporting Europe’s transition to a sustainable energy system.”
