Brussels–Toyota Motor Europe (TME) announced today that the company became a direct shareholder in EODev (Energy Observer Developments). The enhanced partnership with the French innovative start-up shows the company’s belief in agile, young businesses with the aim of accelerating the spread of hydrogen applications.
- Toyota Motor Europe becomes a shareholder in the start-up EODev (Energy Observer Developments)
- Stronger partnership between Toyota and EODev in their shared commitment for decarbonisation with reliable, sustainable and accessible applications
- The investment underlines Toyota’s ambition for further expansion of zero emission solutions on the way to a hydrogen society
EODev and its partners are positioning themselves as a European leader capable of designing, assembling and distributing zero-emission energy systems on an industrial scale.
“We are very pleased with the capital investment in our business by Toyota. It marks a significant step in the development of EODev. Our relationship began by developing the GEH2 and REXH2 together and validating it with the Energy Observer boat. Toyota’s capital investment makes our partnership even closer. This is a real recognition of the work carried out by our respective teams and a strategic acceleration for EODev”, said Jérémie Lagarrigue, CEO of Energy Observer Developments.
In early 2020, EODev and TME Fuel Cell Business integrated Toyota’s leading fuel cell technology in the Energy Observer boat, ahead of its Atlantic and Pacific Ocean crossings. This marked Toyota’s expansion into a new business area where it has become a fuel cell technology supplier and integrator. Both companies worked together to develop hydrogen products around the Toyota modular fuel cell system. EODev’s REXH2© is a maritime hydrogen power solution that can be integrated into different kinds of ships, in full compliance with environmental and regulatory constraints. Their GEH2© stationary generator is another example of a zero-emission solution using the Toyota hydrogen technology.
“We are extremely happy to support and be more closely involved in the initiatives by EODev. This will enable the industrialization of hydrogen solutions developed by both companies’ engineers using the Toyota fuel cell technology. We both embrace the Sustainable Development Goals as a direction towards a better society and a better world. Our partnership has already been very successful, and this enhanced cooperation will help further develop products that accelerate decarbonization and the growth of a hydrogen society”, commented Matt Harrison, President and CEO of Toyota Motor Europe
The partnership started in 2017, when Toyota France decided to sponsor the Energy Observer. It is the world’s first hydrogen-powered boat, capable of producing its own hydrogen on-board from seawater thanks to solar, wind and hydro generated power.