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Exclusive: Hydrogen trucking-as-a-service at project finance stage

A hydrogen trucking outfit is seeking project finance for a trio of fueling station projects in Texas and California.

Hyroad Energy, the hydrogen trucking-as-a-service outfit, is at the asset finance stage for a string of fueling station projects in Texas and California, CEO Dmitry Serov told ReSource.

The group is not using a financial advisor, but open to those services, he said. Each project is about $10m in capex.

Hyroad’s business model is to own and operate both the trucks and the fueling stations, offering a turnkey solution for fleet operators while taking on the vehicle risk, Serov said. The company aims to have its first trucks on the road by the end of the year.

Hyroad has a relationship with Paccar, the commercial truck manufacturing company based in Washington state.

As an offtaker of hydrogen, Hyroad will not be sensitive to carbon intensity, but technology agnostic, Serov said.

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