This strategic partnership will expedite the deployment of a first-of-its-kind green hydrogen refueling network across the U.S. and Europe.
HERNDON, VIRGINIA, Sept. 25, 2024 (GLOBE NEWSWIRE) -- REVO ZERO Corporation, a zero-emissions technology company, and Grupo Édora, a leading European renewable energy developer, announce Grupo Édora's strategic investment in REVO ZERO to accelerate the deployment of a green hydrogen generation and refueling network in the United States and Europe.
Under the terms of this strategic investment, Grupo Édora has acquired a stake in REVO ZERO, and the two companies will collaborate on developing, financing, and deploying green hydrogen projects globally. REVO ZERO's innovative modular approach to hydrogen generation and dispensing and Grupo Édora's renewable energy infrastructure expertise will accelerate the roll-out of a first-of-its-kind hydrogen refueling network in the United States and Europe. The deployment of scalable green hydrogen technology will significantly reduce the cost of generating, transporting, and supplying hydrogen for the transportation industry.
"We are excited to partner with Grupo Édora," said Ruben G. Creus, CEO of REVO ZERO. "Their experience in renewable energy development and commitment to sustainability makes them the perfect strategic partner for us to achieve our goals. This partnership will enable us to create the first private global hydrogen refueling network quickly and economically."
"This strategic investment in REVO ZERO will advance Grupo Édora's international expansion into the United States," Rafael Martín, CEO of Grupo Édora, said. "We are already evaluating multiple solar projects in the southern corridor of the United States, from Florida to New Mexico, that will produce green energy for hydrogen generation and energy storage."
The partnership will accelerate the deployment of hydrogen infrastructure for commercial closed-loop environments like airports, municipalities, and universities and will eventually serve the consumer market by providing public access to green hydrogen refueling. The network deployment will set the stage for REVO ZERO to deploy its proprietary pFC Technology vehicles, which utilize a plug-in battery and hydrogen fuel cell to achieve a range of up to 700 miles and refuel time of around 7 minutes.
In addition, Martín, a vehicle enthusiast and owner of one of the most impressive exotic vehicle collections in Europe, is joining the REVO ZERO vehicle engineering team as a special advisor. Martín's input will be invaluable in helping REVO ZERO shape the future of the zero-emissions automobile industry.
This partnership is a significant milestone in making green hydrogen a reality for the transportation industry. The two companies are well-positioned to lead the way in this emerging industry, and their partnership will help accelerate the transition to a cleaner, more sustainable future.
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Savannah White Communications Director savannah.white@revozero.com www.revozero.com