Bär & Karrer Advises H2 Energy Europe on a Joint Venture with Phillips 66
H2 Energy Europe, a Swiss pioneer in the fields of renewable energies and hydrogen technology, and Phillips 66 have concluded an agreement to develop up to 250 retail hydrogen refuelling stations across Germany, Austria and Denmark by 2026 through a 50-50 joint venture between their subsidiaries, Phillips 66 Limited and H2 Energy Europe. The agreement is subject to regulatory approvals and customary closing conditions.
JET H2 Energy Austria, the joint venture between subsidiaries Phillips 66 Limited and H2 Energy Europe, will combine the retail expertise of Phillips 66 and the hydrogen expertise of H2 Energy. They will be well positioned to boost the development of hydrogen in Europe. The new company plans to develop approximately 250 hydrogen refueling stations by 2026.
H2 Energy Europe is a joint venture between commodity trading firm Trafigura Pte and H2 Energy Holding, a leading hydrogen provider in Europe with investments in the production, distribution and utilization of green hydrogen. Through its affiliated companies, H2 Energy was the first to develop and deliver hydrogen fuel cell trucks to commercial users and create a green hydrogen fueling ecosystem in Switzerland.
From the other side, Phillips 66 Limited is a U.K.-based, wholly owned subsidiary of Phillips 66, a diversified energy manufacturing and logistics company. Phillips 66 has a strong retail presence with more than 1,000 JET®-branded stations in Europe and a growing hydrogen refuelling network in Switzerland through its participation in the Coop Mineraloel joint venture.
Bär & Karrer is acting as international Lead Counsel to H2 Energy Europe in this transaction. The team includes partner Mariel Hoch (pictured left), senior counsel Michael Trippel (pictured right) and associate Marlene Lienau (all m&a / corporate) as well as Mani Reinert and Martin Werner (both antitrust).