Total, a French multinational integrated oil and gas company, has acquired a stake in Hysetco, a French company dedicated to the development of hydrogen mobility in cities.
Hysetco currently owns around 700 taxis in Paris, a majority of which are still diesel vehicles that will gradually be transitioned to hydrogen by 2024. The hydrogen taxis are fueled by a network of stations operated by Hysetco. The network is expected to expand in the coming years to support the growth of the 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,” says Patrick Pouyanné, chairman and CEO of Total. “We are delighted to be working with partners whose skills and expertise complement each other throughout the hydrogen vehicle value chain. 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.”
With the acquisition of a 20% stake, Total joins Hysetco’s historical shareholders: Société du Taxi Electrique Parisien (STEP), Air Liquide, Toyota and Kouros.