LAVO, an Australian technology and lifestyle company powered by hydrogen, today announced that it has laid the groundwork for its expansion into Germany, a key international market for LAVO.
LAVO’s expansion into Germany includes the establishment of a German subsidiary, LAVO Germany GmbH. LAVO’s German team will be based in Berlin and led by Matthew Driscoll.
Germany represents a key market for LAVO, which is targeting the production of 80% of its electricity by renewable energy sources by 2050. Germany aims to become a world leader in clean hydrogen energy technology, supported by a 9 billion euro investment into the industry by the German government. The majority of these funds are directed to domestic enablement, with an additional 2 billion euros set aside for developing international partnerships for efficient hydrogen production.
LAVO’s German office will also play a critical role in promoting the full range of LAVO products, including storage solutions ranging from the small-scale 40KWh LAVO unit (net output capacity) to the industrial scale 13MWh HEOS unit. The office will also be an important foothold in the European region, where LAVO already has established partnerships and continues to grow its network of customers, manufacturing and supply partners.
LAVO’s growth plans in Germany include the launch of the logistical mobility solution that will be the LAVO cargo bike, the first commercially produced hydrogen bicycle. Increased consumer-facing hydrogen products and business initiatives will benefit from the landmark agreement between Australia and Germany in September 2020 to explore the potential for collaboration on hydrogen supply.
Alan Yu, CEO and Executive Director of LAVO, commented, “We are pleased to be expanding our footprint into Germany and, importantly, to become the first Australian hydrogen technology company to establish itself in the German market.
“Since the launch of the LAVO System, the Company has already experienced significant demand from Germany, demonstrating the need for LAVO to build out its local supply capabilities. Now that we have established our local team, we look forward to building our presence on the ground and developing partners to deliver our products.”
Achim Hartig, Managing Director Investor Consulting at Germany Trade & Invest also commented, “As Germany is going forward in its massive transition towards green hydrogen, we are pleased to see LAVO coming to Germany with their innovative hydrogen storage technology. Safe and reliable storage of hydrogen is one of the key elements required in our ambitious strategy, and creates new opportunities and new applications for green hydrogen.”
Source: LAVO
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