Hydrogen distribution and fueling business OneH2 has closed its
latest funding round with investments led by Chevron U.S.A. Inc.
and current investors Trafigura and The Papé Group. Terms of the
transactions were not disclosed.
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Funds from the round will be used to help accelerate the
development and deployment of mid-scale hydrogen generators and
fuel distribution solutions, which will enable OneH2 and its
channel partners provide lower carbon solutions to its
customers.
“We welcome Chevron's investment and eagerly anticipate
collaborating with one of the world's largest vertically integrated
energy companies,” said Paul Dawson, OneH2’s president and CEO.
“The OneH2 team deeply appreciates the steadfast support from our
existing investors as we continue to invest in hydrogen
infrastructure across the United States. Each of our investors will
play a pivotal role in shaping the trajectory of OneH2 and
contributing to the advancement of the broader hydrogen
industry.”
Chevron's decision to lead the round demonstrates its ongoing
commitment to exploring diverse energy sources and technologies. By
investing in OneH2, Chevron aims to play a key role in driving
hydrogen as a viable, pragmatic and economical energy source.
“At Chevron, we believe affordable, reliable and ever-cleaner
energy is essential to enabling human progress, and we believe the
use of lower carbon intensity hydrogen as a fuel source can help
reduce emissions,” said Nuray Elci, Chevron’s general manager of
Renewables. “We are excited to work with the team at OneH2 and
other partners to help build the fueling infrastructure for
hydrogen vehicles, moving this technology forward.”
Additional investment by Trafigura and The Papé Group represent
their continued confidence in OneH2’s strategic direction and their
commitment to bringing practical, hydrogen fueling technology to
the market.
“This is our third equity investment in OneH2, showing our
support for the progress that they’re making and scalability of
their business, we are encouraged about the growth inflection point
OneH2 is reaching and what it means for hydrogen adoption in the
US,” said Julien Rolland, Head of Renewables and Strategic
Investments for Trafigura.
Jordan Papé, president and CEO of The Papé Group, added, “Papé
provides solutions that maximize our customers’ uptime while
staying abreast of regulatory trends in the lower carbon energy
sector. Our investment in OneH2 will allow us to continue to
provide solutions for our customers both today and into the
future.”
About Chevron:
Chevron is one of the world’s leading integrated energy
companies. We believe affordable, reliable, and ever-cleaner energy
is essential to enabling human progress. Chevron produces crude oil
and natural gas; manufactures transportation fuels, lubricants,
petrochemicals, and additives; and develops technologies that
enhance our business and the industry. We aim to grow our
traditional oil and gas business, lower the carbon intensity of our
operations, and grow new lower carbon businesses in renewable
fuels, hydrogen, carbon capture, offsets and other emerging
technologies. More information about Chevron is available at
www.chevron.com.
About OneH2:
Based in Longview, NC, OneH2 is a leader in hydrogen solutions,
providing holistic production, delivery, and equipment maintenance
services for hydrogen fuel. OneH2 produces and delivers hydrogen
fuel across the U.S. and maintains a growing network of on-site
hydrogen generators and delivery locations. OneH2 offers scalable
end-to-end hydrogen fuel solutions that enable emission-free
mobility operations, including hydrogen buy-back programs and
custom configurations to suit each business’s needs.
About Trafigura:
Trafigura is a leading commodities group, owned by its employees
and founded 30 years ago. At the heart of global supply, Trafigura
connects vital resources to power and build the world. We deploy
infrastructure, market expertise and a worldwide logistics network
to move oil and petroleum products, metals and minerals, gas and
power from where they are produced to where they are needed,
forming strong relationships that make supply chains more
efficient, secure and sustainable. We invest in renewable energy
projects and technologies to facilitate the transition to a
low-carbon economy, including through joint ventures H2Energy
Europe and Nala Renewables.
The Trafigura Group also comprises industrial assets and
operating businesses including multi-metals producer Nyrstar, fuel
storage and distribution company Puma Energy, and our Impala
Terminals joint venture. The Group employs over 12,000 people and
is active in 156 countries. Visit: www.trafigura.com
About Papé Group:
Papé is the premier capital equipment provider in the West. For
85 years, Papé has worked to maximize customers' uptime through
top-quality equipment, convenient maintenance service, and the best
customer service. As the leading supplier of construction, logging,
material handling, landscaping, trenching, and farm equipment, as
well as semi-trucks and warehouse products, this fourth-generation
family-owned company is dedicated to providing customers with
quality products and unmatched service. Papé’s involvement in
OneH2’s investment round reflects its commitment to providing
customers with end-to-end solutions that meet their operational and
sustainability goals.
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For OneH2 administration@oneh2.com 844-996-6342
For Chevron Ross Allen, External Affairs media@chevron.com
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