New partnership to power North America’s entry into hydrogen fuel

HTC and Hydrogen Fueling Corp. team up to accelerate hydrogen fueling infrastructure as vehicle manufacturers ramp up delivery of hydrogen powered vehicles.

HTC Extraction Systems is finalizing its partnership agreement and equity stake purchase of up to a twenty percent in US based company, Hydrogen Fueling Corp. The synergy between companies aims to catalyze and accelerate North America's entry into hydrogen fuel, according to HTC’s press release.

As part of the transaction, in which HTC will pay an aggregate consideration of up to C$6,500,000 for the equity interest, HTC and Hydrogen Fueling Corp. will enter into an IP licensing agreement, whereby HTC will license six distinct technologies directly relating to the production of hydrogen from methane, the extraction of CO2 related to this hydrogen production and the reclamation and recycling of the CO2 extraction solvents to Hydrogen Fueling Corp.

HTC is moving forward with its active participation in the accelerating hydrogen fueling infrastructure industry, as result of established vehicle manufacturers (Toyota, Hyundai, Daimler and Volvo) ramping up their delivery schedules of hydrogen powered long haul trucks and cars that require fueling stations. Nikola Motors has announced it will be manufacturing hydrogen electric long-haul vehicles and has received billions of dollars of pre-orders.

There are currently under 100 hydrogen fueling stations in the USA versus 150,000 gas stations and 20,000 battery electric vehicle recharging stations.

Hydrogen Fueling Corp.'s technology can produce hydrogen fuel onsite at the individual station level, versus existing infrastructure that buys hydrogen from large industrial providers and trucks it to individual stations.

Hydrogen Fueling Corp.'s launch strategy includes securing USA Department of Energy infrastructure loans and building out its hydrogen refueling network initially in California. Federally, both Republicans and Democrats have discussed trillion-dollar infrastructure programs to stimulate the US economy including clean technologies, specifically noting hydrogen fueling infrastructure.