French company Hydrogen-Refueling-Solutions (HRS) has chosen Barcelona as the location for its first office outside of France. This will also be the first of the company's international subsidiaries.
With this new office in Barcelona, HRS expects to speed up the progress of the hydrogen refueling network in the Iberian Peninsula, where they have already sold nine hydrogen stations.
"Spain has great advantages for the installation of hydrogen stations. It has a large production capacity of green hydrogen at competitive costs and a large technical knowledge from local suppliers. All this represents an opportunity for HRS to expand its presence in Europe, directly in line with our internationalization strategy. We already have one of our largest customers there, pHYnix, with 9 stations ordered by 2023", says Hassen Rachedi, founder and CEO of HRS.
For HRS, which began commercial operations in Spain in 2022, the opening of the subsidiary marks a new step in its commitment to the Iberian Peninsula and Spain in particular. According to the government's roadmap, Spain will need more than 150 hydrogen refueling stations by 2030, as announced by the Spanish government's Green Hydrogen Roadmap in October 2020.
With the opening of this subsidiary, HRS will contribute to the development of hydrogen, mainly green hydrogen, as a fuel in the country. "One of our goals is to refuel vehicles with 100% green hydrogen in three years, as soon as it becomes available in Spain," adds Olivier Dhez, Executive Vice President and Director of Business Development at HRS.
“This subsidiary will enable us to accelerate the deployment of our hydrogen stations in Southern Europe”
Olivier Dhez, Executive Vice President and Director of Business Development at HRS.
Currently, there are 70 hydrogen refueling stations established by HRS in Europe and the United States. HRS produces a range of hydrogen stations with varying capacities, from 300 kg to 1 ton per day, that are appropriate for light vehicles and forklifts to heavy-duty stations that can facilitate the simultaneous charging of multiple vehicles. HRS has projected a total annual revenue of EUR 29 million for the fiscal year ending June 30, 2023.
HRS works closely with local suppliers to install and maintain its hydrogen stations. "Our model allows us to be more cost competitive while strengthening the local industrial fabric around hydrogen. This subsidiary, whose commercial development will be managed by Thibaud Vincendon, HRS Business Development Manager for Iberia and Latin America, will enable us to accelerate the deployment of our hydrogen stations in Southern Europe," explains Olivier Dhez.
Founded in 2004, Hydrogen-Refueling-Solutions (HRS), formerly TSM, is a pioneer in hydrogen mobility. As a European designer and manufacturer of hydrogen refueling stations, the company has been committed to reducing transport emissions for over ten years.
HRS has an extensive range of hydrogen refueling stations that cater to different fuel cell vehicles, which are well-suited for the fast-growing European market. HSR facilities in France can assemble up to 60 units per year within 8 weeks, thanks to their exceptional expertise and efficient production capabilities.