Hydra Energy to deliver hydrogen-powered trucks
Hydra Energy has secured $15 million from Just Business to expand beyond pilots and deliver hydrogen-powered trucking.
The funding will help support Hydra’s initial waste hydrogen capture plant in British Columbia, and its fueling infrastructure
By replacing 40 per cent of diesel with hydrogen in Canada alone, Hydra Energy could displace the equivalent of approximately 7.1 billion litres (1.9 billion gallons) worth of diesel per year; equivalent to taking over four million passenger cars off the road each year.
“We have full confidence in Hydra’s innovative technology and business model, which is why we invested in an early stage company,” said David Batstone, Senior Managing Partner and Co-founder, Just Business. “We believe that improving this traditionally diesel-heavy industry harnesses the potential of clean fuel now and will help pave the world for the hydrogen revolution in the future. It’s the best opportunity we see for commercial fleets to significantly reduce emissions in the near term, without sacrificing any of their truck’s performance or payloads. At the same time, these fleets can reap the economic and environmental benefits in the transportation sector today.”
Hydra Energy’s dual-injection system injects this hydrogen directly into the truck’s air intake so that as it pulls for air, it also pulls for hydrogen.
“Hydrogen is no longer a fuel of the future. This funding brings Hydra closer to having 65 trucks on today’s roads that deliver significant fuel and emissions savings to our early users,” said Badr Abduljawad, Co-Founder and Chief Innovation Officer, Hydra Energy. “I co-founded Hydra to make low carbon hydrogen adoption scalable through a business model that’s affordable for fleets to implement. We are grateful to our new investor, Just Business, for supporting us in expanding this vision throughout North America.”