Shell, Automakers Invest $10.7B in Hydrogen
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Royal Dutch Shell, Toyota Motor Corp. and four other automakers will invest 10 billion euros ($10.7 billion) to accelerate hydrogen fuel in the coming years to combat climate change, the companies announced Jan. 18.
"The hydrogen council will seek collaboration, cooperation and understanding from governments, industry and most importantly, the public," said Takeshi Uchiyamada, Toyota's chairman. "At Toyota, we have always tried to play a leading role in environmental and technological advances in the automotive industry, including through the introduction of fuel cell vehicles."
Toyota produces its Mirai fuel cell sedan, while Honda is preparing to release its own Clarity Fuel Cell sedan.
A total of 13 energy, transportation and industrial companies will form a hydrogen council, according to a joint statement from Davos, Switzerland. The council will also include representatives from BMW AG, Daimler AG, Honda Motor Co., and Hyundai Motor Co. Other members include gas companies Air Liquide SA and Linda AG, miner Anglo American Plc, electric utility Engie SA, rail company Alstom SA, and motorcycle and heavy equipment manufacturer Kawasaki Heavy Industries.
Council members said the project can support industries and initiatives beyond the transportation sphere to "support our transition to a low carbon society across multiple industries," Uchiyamada said.
The council is seeking collaboration with government agencies, said Benoît Potier, Air Liquide's CEO.
"We cannot do it alone," Potier said. "We need governments to back hydrogen with actions of their own — for example through large-scale infrastructure investment schemes. Our call today to world leaders is to commit to hydrogen so that together we can meet our shared climate ambitions and give further traction to the emerging hydrogen ecosystem."