The hydrogen fueling company Resato Hydrogen Technology in Assen has secured 25 million euros in European financing. The company is borrowing the money from the European Investment Bank (EIB) to enable further research and development of its technology and to increase production capacity by 2027. This should also create new employment in the region.
Resato specializes in filling stations for hydrogen-powered vehicles. The company already has more than 55 public and private gas stations sold. It built the largest installation on the market to date, which is operated by Hypion in Neumünster, Germany.
The Assen-based company aims to expand to a thousand hydrogen filling stations by 2030. There are currently 170 people working for the company, the expectation is that this will soon be between five hundred and a thousand. Resato plans to move to a new location this year, which should enable further scale-up of production in the future.
According to EIB Vice President Robert de Groot, hydrogen is likely to become important in the European energy mix. “For the green and energy transition, it is also important that the infrastructure exists that allows people to embrace alternative fuels.”
The EIB is the European Union’s credit institution for long-term loans. The bank’s shares are owned by the Member States. The organization supports companies throughout Europe.