Toyota Motor Sales U.S.A. Inc. (TMS) and Toyota Motor Credit Corp. (TMCC) have entered into a group of financial agreements with FirstElement Fuel Inc. (FE) to support the long-term operation and maintenance expenses associated with new hydrogen refueling stations in California.
Under the terms of the agreement with Toyota, FirstElement will work to develop an integrated network of fueling stations in target market locations approved by Toyota, and consistent with the California Fuel Cell Partnership Road Map.
‘The first few years here in California will be a critical period for hydrogen fuel cell technology,’ says Bob Carter, senior vice president for automotive operations at TMS. ‘California has stepped up with the offer to invest $200 million dollars to build 100 stations, and through this financial arrangement with FirstElement, Toyota is showing its full commitment to deploy zero-emission fuel cell vehicles here in California.’
TMS also announced that Linde LLC plans to build a hydrogen fueling station on TMS-owned property located in San Ramon, Calif., adjacent to Toyota's San Francisco Regional Office and Parts Distribution Center.