HYVIA: Renault Group and Plug Power’s Joint Venture Leads the Way to a Complete Ecosystem of Fuel Cell Powered LCVs, Green...
June 03 2021 - 08:00AM
Renault Group, a dominant player in the automotive
industry, and Plug Power Inc. (NASDAQ: PLUG), a world leader in
turnkey hydrogen and fuel cell solutions, are today launching their
joint venture HYVIA, as outlined in the memorandum of
understanding (MOU) agreement signed on January 12th, 2021. The
joint venture is equally owned by the two partners and is chaired
by David Holderbach, with over 20 years of experience in strategic,
product and international sales at the Renault Group.
The name HYVIA is a contraction of “HY” for
hydrogen and the Latin word “VIA” for road, embodying the ambition
to open a new path towards low-carbon mobility. Commercial vehicles
such as LCVs require greater range and shorter refueling time,
operational demands where hydrogen fuel cells are the unparalleled
energy solution.
HYVIA's activities will be carried out
at existing Renault facilities in France:1. The head
office of the joint venture as well as the R&D teams will be
located at Villiers-Saint-Frédéric, with the light
commercial vehicle engineering and development center for Renault
Group, to maximize synergy across teams.2. The process,
manufacturing and logistics teams will be based in
Flins, as part of the Re-Factory project, and plan
to begin the assembly of fuel cells and recharging stations by end
of 2021.3. The first vehicles, based on Renault Master, will be
assembled at the Batilly plant.4. The fuel cell
integration will be carried out by PVI, a subsidiary of Renault
Group since 2017, located in
Gretz-Armainvilliers.
The HYVIA integrated hydrogen technology
complements Renault’s E-TECH technology, increasing vehicle range
to 500 km with rapid recharging time of 3 minutes. These advantages
are particularly well-suited to certain uses of light commercial
vehicles while simultaneously addressing the regulatory challenges
of decarbonizing city centers.
The first three fuel cell vehicles brought to
market by HYVIA will be based on the Renault
Master platform and should be available in Europe by end
of 2021 and accompanied with the deployment of charging
stations and the supply of green hydrogen:- Transport of
goods: Van version and Chassis cab version
for large volumes.- Transport of people: City bus
version.
“As a pioneer in new energies and the European
leader in electric light commercial vehicles, Renault Group is
pursuing its objective of having the greenest mix on the market by
2030 with the creation of HYVIA. This joint venture integrates the
entire hydrogen mobility ecosystem in a unique way, from the
vehicle to infrastructure and turnkey services for customers. The
development of this cutting-edge technology will enable us to
strengthen our industrial base and set up new value-generating
activities in France in this promising segment”, said Luca de Meo,
CEO Renault Group
"Plug Power is a leader in solutions serving the
hydrogen ecosystem, with over 40,000 fuel cell systems deployed,
110 charging stations deployed capable of distributing more than 40
tonnes of hydrogen per day. Plug Power is a technological leader in
green hydrogen solutions by electrolysis. With HYVIA, we are
bringing hydrogen mobility to France and Europe”, said Andrew
Marsh, CEO Plug Power
“Renault has been a hydrogen pioneer since 2014
with more than a hundred light commercial vehicles on the road. We
are excited to join forces with Plug Power with its integrated
solutions approach towards green hydrogen. HYVIA is now opening a
new path towards decarbonation with a complete offering of hydrogen
solutions. HYVIA builds on the complementary skills of Renault
Group and Plug Power and will target a 30% marketshare in hydrogen
powered light commercial vehicles in Europe by 2030”, said David
Holderbach, CEO HYVIA
About Renault Group Renault
Group is at the forefront of a mobility that is reinventing itself.
Strengthened by its alliance with Nissan and Mitsubishi Motors, and
its unique expertise in electrification, Renault Group comprises 5
complementary brands - Renault, Dacia, LADA, Alpine and Mobilize -
offering sustainable and innovative mobility solutions to its
customers. Established in more than 130 countries, the Group has
sold 2.9 million vehicles in 2020. It employs more than 170,000
people who embody its Purpose every day, so that mobility brings
people closer. Ready to pursue challenges both on the road and in
competition, Renault Group is committed to an ambitious
transformation that will generate value. This is centred on the
development of new technologies and services, and a new range of
even more competitive, balanced and electrified vehicles. In line
with environmental challenges, the Group’s ambition is to achieve
carbon neutrality in Europe by
2050. https://www.renaultgroup.com/en/
About Plug PowerPlug Power is
building the hydrogen economy as a global leading provider of
comprehensive hydrogen fuel cell turnkey solutions. Plug Power has
deployed over 40,000 fuel cell systems, designed, and built 110
refueling stations that dispense more than 40 tons of hydrogen
daily, and is a technology leader in green hydrogen solutions via
electrolysis. Present in Europe for more than 10 years, Plug Power
has significant references in hydrogen mobility with key European
industrials, logistics customers and vehicle manufacturers. Plug
Power installed several PEM technology electrolyzers in Germany,
France, The Netherlands, and Portugal. The company has deployed
more fuel cell systems for electromobility than anyone else in the
world. We see ourselves as a truly transatlantic company.
https://www.plugpower.com/.
Forward-Looking Statements This
press release contains forward-looking statements within
the meaning of the U.S. federal securities laws. These statements
include, but are not limited to, statements regarding the
expectation that HYVIA will be the first-to-market with turnkey
hydrogen mobility solutions; the expectation that HYVIA will open a
new path towards decarbonatoin with a complete offering of hydrogen
solutions; the expectation that HYVIA will successfully integrate
the hydrogen mobility ecosystem and contribute to the
decarbonization of mobility in Europe; the expectation that HYVIA
will create value-generating activities in France; the statement
regarding the advantages of the HYVIA technology and the
expectation that the technology will position France as the
industrial, commercial and technology leader; the expectation that
HYVIA will be successful and operate across existing facilities in
France; the expectation that the assembly of fuel cells and
recharging stations will begin by the end of 2021; the expectation
that the first fuel cell vehicles brought to market by HYVIA will
be available in Europe by the end of 2021 and accompanied with the
deployment of charging stations and the supply of green hydrogen;
and the statement that HYVIA will target a 30% market share in
hydrogen powered light commercial vehicles in Europe by
2030. You are cautioned that such statements should not
be read as a guarantee of future performance or results, and will
not necessarily be accurate indications of the times that, or by
which, such performance or results will have been achieved. Such
statements are subject to risks and uncertainties that could cause
actual performance or results to differ materially from those
expressed in these statements. For a further description of the
risks and uncertainties that could cause actual results to differ
from those expressed in these forward-looking statements, as well
as risks relating to the business of Plug Power in general, see
Plug Power’s public filings with the Securities and Exchange
Commission, including the “Risk Factors” section of Plug Power ’s
Annual Report on Form 10-K for the year ended
December 31, 2020. Readers are cautioned not to place undue
reliance on these forward-looking statements. The forward-looking
statements are made as of the date hereof and are based on current
expectations, estimates, forecasts and projections as well as the
beliefs and assumptions of management. We disclaim any obligation
to update forward-looking statements except as may be
required by law.
Media
ContactsHYVIAIsabelle BEHAR+33 (0)6 08 71
63 31Isabelle.behar@renault.com
Renault GroupDelphine
DUMONCEAU+33 (0)6 09 36 40
53delphine.dumonceau-costes@renault.com
Plug
PowerEuropeValentine SERRES +33 (0)7 78
41 45 91Dorian MASQUELIER+33 (0)7 77 26 24
57plugpower@clai2.com
North AmericaIan MartoranaThe
Bulleit Group(415) 237-3681plugpowerpr@bulleitgroup.com
Photos accompanying this announcement are available
at:https://www.globenewswire.com/NewsRoom/AttachmentNg/4b1598a5-2e66-41ea-8939-3f7088f883b6https://www.globenewswire.com/NewsRoom/AttachmentNg/e4a399ae-a1e7-4f13-b995-b969c026d3ad
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