OneH2 Forms Major Strategic Investor Group To Advance Hydrogen Logistics Network
OneH2 has successfully closed a significant investment round, welcoming new strategic investors including Buckeye Partners, Trafigura, Sumitomo Corporation of Americas, Navistar International Corporation, and the Papé Group. The investment aims to expand OneH2's hydrogen production and distribution network, addressing the transportation market's demand for competitively priced hydrogen. With the growth capital, OneH2 plans to deploy turnkey hydrogen infrastructure solutions, enhancing refueling options at logistics centers and retail locations. This initiative supports the increasing adoption of hydrogen fuel in commercial transportation.
- Secured investment from strategic partners to enhance hydrogen network.
- Ability to deploy turnkey hydrogen solutions for various markets.
- Growing demand for hydrogen in transportation aligns with company objectives.
- None.
LONGVIEW, N.C., Jan. 27, 2021 /PRNewswire/ -- Through a recently closed investment, OneH2 (the "Company") announces strategic additions to its investor group whose collective interest is in continuing the build-out of OneH2's existing hydrogen system, creating a national fuel production and distribution network to serve transportation markets with full service solutions of competitively priced hydrogen.
Led by Houston based Buckeye Partners, the investment round also includes Trafigura, Sumitomo Corporation of Americas, Navistar International Corporation, and the Papé Group to add to existing investors such as Wheeler Material Handling.
The Company draws extensively on its relationships with investors, whose wealth of capability includes ownership, management and trading of energy and energy infrastructure as well as a major presence on the fuel demand side through forklift, auto and truck manufacturing and dealerships.
The growth capital will be used to deploy full turn-key hydrogen infrastructure solutions, with OneH2 providing modular hydrogen production units, storage and dispensing at the point of refueling, which is often on-site at logistics and distribution centers to provide fuel for forklift and truck fleets. Retail points of sale, such as truck service centers and gas stations, also provide a large future opportunity for the Company as adoption of hydrogen for truck and passenger vehicle fleets continues building. It is envisaged that the modular units combined with the Company's investments in fuel production hubs will form an efficient and highly scalable hydrogen fuel network.
About OneH2
OneH2, Inc., headquartered in Longview, North Carolina, is a privately held, vertically integrated hydrogen fuel company. OneH2 is emerging as a leader in providing scalable hydrogen fuel systems coupled with cost effective delivered hydrogen fuel for use in transportation markets. For more information about OneH2, Inc. visit the Company's website at www.oneh2.com.
About Buckeye Partners
Buckeye Partners, L.P., a wholly owned investment of the IFM Global Infrastructure Fund, owns and operates a diversified global network of integrated assets providing midstream logistic solutions, primarily consisting of the transportation, storage, processing and marketing of liquid petroleum products. Buckeye is one of the largest liquid petroleum products pipeline operators in the United States, with approximately 6,000 miles of pipeline, and owns a terminal network of more than 115 liquid petroleum products terminals an. More information can be found at www.buckeye.com.
About Trafigura
Founded in 1993, Trafigura is one of the largest physical commodities trading groups in the world. Trafigura sources, stores, transports and delivers a range of raw materials (including oil and refined products and metals and minerals) to clients around the world and has recently established a power and renewables trading division. The trading business is supported by industrial and financial assets, including a majority ownership of global zinc and lead producer Nyrstar which has mining, smelting and other operations located in Europe, Americas and Australia; a significant shareholding in global oil products storage and distribution company Puma Energy; global terminals, warehousing and logistics operator Impala Terminals; Trafigura's Mining Group; and Galena Asset Management. With circa 850 shareholders, Trafigura is owned by its employees. Over 8,500 employees work in 48 countries around the world. Trafigura has achieved substantial growth over recent years, growing revenue from USD12 billion in 2003 to USD147 billion in 2020. The Group has been connecting its customers to the global economy for more than two decades, growing prosperity by advancing trade. Visit: www.trafigura.com
About Sumitomo Corporation of Americas
Established in 1952 and headquartered in New York City, Sumitomo Corporation of Americas (SCOA) has 8 offices in major U.S. cities. SCOA is the largest subsidiary of Sumitomo Corporation, one of the world's leading traders of goods and services. As an integrated business enterprise, Sumitomo Corporation has emerged as a major organizer of multinational projects, an expediter of ideas, an important international investor and financier, and a powerful force for distribution of products and global communications through a network of offices worldwide. The company's core business units include Tubular Products, Environment and Infrastructure, Steel and Non Ferrous Metals, Transportation and Construction Systems, Chemicals and Electronics, Media and IOT Applications, Real Estate, Mineral Resources and Energy, and Food. For more information, visit www.sumitomocorpofamericas.com.
About Navistar
Navistar International Corporation (NYSE: NAV) is a holding company whose subsidiaries and affiliates produce International® brand commercial trucks, proprietary diesel engines, and IC Bus® brand school and commercial buses. An affiliate also provides truck and diesel engine service parts. Another affiliate offers financing services. Additional information is available at www.Navistar.com.
About The Papé Group, Inc.
The Papé Group, Inc., headquartered in Eugene, Ore., represents a full line of capital equipment sales, parts, service, finance, and rental throughout nine western states and Hawaii. Papé Material Handling, Inc.; Papé Kenworth; Papé Machinery, Inc.; Ditch Witch West, A Papé Company; and Engineered Products, A Papé Company serve customers in the material handling, transportation, agriculture, turf, forestry, construction, trenching, and warehousing industries. For more information about The Papé Group, Inc., visit www.pape.com.
About Wheeler Material Handling (WMH)
WMH is a privately owned industrial equipment distributor based in Charlotte, NC with eleven branches serving parts of six southeastern states. WMH focuses on providing quality products and exceptional customer service - offering new Yale lift trucks, used/rental equipment, parts/service support and fleet management. Their wholly owned subsidiary, OneH2Southeast, provides hydrogen refueling and delivers over 6,000 KG of high-pressure hydrogen fuel to customers on a monthly basis. More information is available at www.wheelermh.com.
Media Contact:
Peter Sonubi
Executive Assistant OneH2, Inc.
(844) 996-6342 ext 713
peter.sonubi@oneh2.com
Web site: OneH2.com/news
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SOURCE OneH2, Inc.
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