Flags in front of the EU Commission building in Brussels
Resato will use the financing to boost the research and development of its proprietary technology and expand its production capacity in the coming years.
European lending arm, the European Investment Bank (EIB) has signed a €25 million venture debt facility with hydrogen refuelling station developer Resato Hydrogen Technology.
Resato’s growth plans include deploying 1,000 hydrogen refuelling stations by 2030.
These plans align with the European Union’s Sustainable and Smart Mobility Strategy, which stresses the crucial importance of expanding production capacity.
Furthering this, by 2026, Resato plans to relocate to a newly optimised assembly facility, enabling further production scaling.
Robert de Groot, EIB vice president emphasised the banks enthusiasm and support for this project.
Groot said: “Going forward, hydrogen will definitely be part of the energy mix. The green and energy transitions also depend on making sure that the right kind of infrastructure is in place to support the adoption of alternative fuels.
“The Bank is happy to support yet another high-tech hydrogen project developed in the Netherlands, which shows how innovative Europe can be when it has the right resources.”
According to Resato, its technology can help to reduce emissions by supporting the hydrogen transportation sector.
Rob Castien, CEO of Resato Hydrogen Technology added: “We are honoured to receive this loan from the European Investment Bank, as it signifies their confidence in Resato’s strategy, vision, and commitment to innovation.
“For Resato it’s a validation of our mission to lead the way in developing advanced hydrogen refueling solutions. With this support, we are further empowered to accelerate the hydrogen refuelling infrastructure. Hydrogen not only offers a clean energy solution but also reduces grid congestion, supporting Europe’s transition to a sustainable energy system.”
Boosting employment in the northern Netherlands
Resato’s growth is projected to impact job availability in the northern Netherlands positively with expectations for the workforce to grown from between 500 and 1,000 by 2030.
This expansion is also anticipated to create a comparable number of additional employment opportunities within the regional supply chain, contributing to the area’s economic development.
Leading the pack, Resato opened the Netherlands’ first large hydrogen refuelling station (HRS) in The Hague in 2019.
Since then, Resato has sold over 55 hydrogen refuelling stations across Europe, supplying hydrogen to trucks, buses, cars, and trains.
Blue ammonia, which consists of hydrogen and nitrogen, holds key to addressing rise in global…
The €12m hydrogen-electric tanker is being built by West Baltic Shipyard and Baltic Workboats. Lithuania’s…
Reports suggest Africa is to become a “key player” in the green hydrogen market, with…
The partnership aims to increase supply of hydrogen-based sustainable aviation fuel in the Nordics whilst…
Tata Motors has launched its hydrogen-powered truck project with IOCL in aims of pushing sustainable…
The maiden 500km test flight has been scheduled for late 2025. An Australian aviation start-up…