Fusion Fuel (NASDAQ: HTOO) and Toyota Material Handling España, S.A. (TMHES) have announced a collaboration agreement to develop the green hydrogen fuel cell forklift market in Spain. This partnership aims to enhance TMHES's leadership position in the zero emissions forklift truck segment by providing end-to-end solutions of fuel cell forklifts, green hydrogen production, and hydrogen refuelling infrastructure. They plan to offer fully financed solutions that combine Hydrogen-as-a-Service with TMHES's operational rental and leasing solutions for their range of forklift products.
Both companies see the logistics and material handling sector as uniquely positioned to benefit from hydrogen energy, especially fuel cell forklift solutions, as a critical decarbonisation vector, especially in operations requiring heavy loads and high operating hours. They intend to deploy their green hydrogen solutions to existing forklift fleets, as well as to integrated hydrogen logistics projects encompassing fuel cell vehicles for supply chain, distribution, and materials handling operations.
Commenting on the agreement, Grant Greatrex, Co-Founder of Fusion Fuel Spain and Mobility Lead for the company said, “we are excited to announce this collaboration with a fellow pioneering company in the green hydrogen energy transition and see great potential for fully financed integrated solutions for our joint clients.” Frederico Chaves, Co-Head of Fusion Fuel, added, “we have spoken at length about the importance of value chain partnerships to develop the green hydrogen ecosystem and solve the chicken-and-egg problem that all too often hinders the commercial adoption of novel technology. We are extremely excited about the potential of this partnership to help accelerate the deployment of Fusion Fuel’s technology and TMHES’ forklift solutions within the Spanish logistics and material handling market.”
Joan Catalan, Director General of Toyota Material Handling España, has spoken about the partnership with Fusion Fuel Spain, “we are pleased to collaborate with Fusion Fuel Spain in the development of Hydrogen as a green energy for the mobility in our country. Sustainability is one of our key objectives, working to Zero emissions target, and we believe that green Hydrogen applied to forklifts market will be a key element in this journey. Hydrogen has been proven as a clear alternative to other sources of energy when talking about performance, quick refill and zero emissions in intensive applications. Toyota has been working on hydrogen for many years, starting with the Fuel Cell forklift prototype presented in 2005, so this cooperation agreement is a further step to reinforce the actions already underway.”