PSX - Phillips 66 H2 Energy to develop European hydrogen refueling network

Phillips 66 (NYSE:PSX) says it formed a 50-50 joint venture with H2 Energy Europe to develop as many as 250 retail hydrogen refueling stations across Germany, Austria and Denmark by 2026. The companies say the JV's future network of hydrogen refueling stations will comprise existing JET-branded retail stations as well as new locations on major transport routes; H2 Energy will be responsible for integrating hydrogen production, supply and the refueling apparatus through its wholly owned and affiliated entities. H2 Energy recently unveiled plans to build a 1 GW electrolysis plant in Denmark capable of generating up to 90K metric tons/year of green hydrogen from electricity sourced from offshore wind. Phillips 66 recently reported the first materially positive quarter for its refining activities in two years, with its remaining segments racking up record 2021 profits.

For further details see:

Phillips 66, H2 Energy to develop European hydrogen refueling network