JET H2 Energy Austria GmbH, the joint venture between subsidiaries Phillips 66 Limited and H2 Energy Europe SA, will combine the retail expertise of Phillips 66 and the hydrogen expertise of H2 Energy and be well positioned to boost the development of hydrogen in Europe. The new company plans to develop approximately 250 hydrogen refueling stations by 2026. JET H2 Energy’s network of hydrogen refueling stations for heavy- and light-duty and passenger vehicles will comprise existing JET® branded retail stations as well as new locations on major transport routes and at customer sites. JET H2 Energy will require governmental funding, where applicable, for the development of the refueling network. The company intends to supply its sites with green hydrogen and build relationships with customers and original equipment manufacturers. Green hydrogen is a zero-carbon energy carrier and fuel that is produced by splitting water into hydrogen and oxygen using renewable electricity. In vehicles, hydrogen is converted to electricity in fuel cells that power cars and trucks, with water being its only emission.
Phillips 66 manufactures, transports and markets products that drive the global economy. The diversified energy company’s portfolio includes Midstream, Chemicals, Refining, and Marketing and Specialties businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future. H2 Energy was established in Zurich, Switzerland, in 2014 with the vision to play an active role in fighting climate change. The company wants to make hydrogen from renewable energy a cornerstone of the energy system by expanding the entire value chain across production, distribution, and consumption in a sustainable and economic way. H2 Energy is involved in the entire hydrogen value chain, offering know-how and engineering each step of the way.