FRV contributes to the decarbonization of public mobility through green hydrogen
• With an investment of more than 100 million euros, the initiative aims to implement an 'as a service' business model in the cab sector, allowing drivers to use hydrogen vehicles with a range and refueling time similar to those of traditional vehicles.
• FRV thus adds a new project to its portfolio of initiatives related to green hydrogen and contributes to the positioning of Madrid as a reference city in Europe in terms of sustainable public mobility.
Fotowatio Renewable Ventures (FRV), part of Abdul Latif Jameel Energy and one of the world’s leading renewable energy companies with experience across five continents, will take part in a project launched by the Professional Taxi Federation of Madrid for the progressive replacement, by 2026, of at least 1,000 traditional cabs with green hydrogen-powered vehicles.
The initiative, which aims to gradually decarbonize urban public mobility, involves an investment of more than 100 million euros and will enable the first hydrogen vehicles to be put into operation by 2022. Through the ‘Taxi-as-a-Service’ (TaaS) business model, this initiative will enable drivers to use hydrogen electric vehicles at a competitive cost, compared to traditional technologies, and without the need for upfront outlays.
Within the overall project, FRV will be in charge of developing the entire hydrogen production, vehicle refueling and fuel supply infrastructure together with Madrileña Red de Gas. This will require the construction of an electrolyzer of at least 10 MW powered by a 20 MW solar photovoltaic plant which, as the demand for hydrogen for more vehicles rises, will be able to increase its production capacity.
The initiative, which promises to position the Community of Madrid as a European benchmark in the field of sustainable urban mobility, involves the participation of numerous companies in the hydrogen value chain. In addition to FRV and Madrileña Red de Gas, Toyota Spain will be the supplier of the vehicles with its record breaking Toyota Mirai fuel cell model, which uses hydrogen to generate power for its electric motor and is able travel up to 600km with no environmental impact. Grupo Ruiz will provide its expertise in urban mobility, aggregating demand and making the project more competitive.
The Professional Taxi Federation of Madrid, in alliance with FRV among other companies, is committed to green hydrogen as an innovative alternative to address the necessary decarbonization of mobility, contributing to the development of the value chain of this fuel and the deployment of non-polluting cars. Thus, the project, one of the most ambitious in the field of urban and peri-urban mobility, is aligned with the objectives set by the Hydrogen Roadmap and the recovery plan of the Next Generation EU program.