New Contender Enters Hydrogen Refueling Network Business
It will be quite a while before we see hydrogen-powered trucks take the lead ahead of diesel, and the biggest contributor to this fact is the lack of a refueling network. While diesel has a station on nearly every corner, hydrogen refueling centers currently total lower than one hundred, as a conservative estimate. Much like how there are numerous diesel stations competing for business, there will be so for hydrogen-powered truck refueling centers. Say hello the the newest contender: Air Products.
Details
Air Products is no stranger to providing businesses with various gasses and fuels, and as such this expansion into the hydrogen market for the commercial trucking industry is hardly surprising.
Currently, Air Products has six refueling stations in Southern California, but has plans to expand outward into Northern California and then beyond. There are no public comments on how long it will take to do this, other than “many years.”
As Air Products expands its network of refueling stations, it will have to compete with other companies such as FirstElement Fuel. This increase in competition should keep prices lower, and reduce the chances of any monopolies charging exorbitant prices for hydrogen fuel.
Conclusion
Between Air Products, FirstElement Fuel, and more, it seems the hydrogen revolution is starting in the Golden State and expanding eastward. Unless a different business can establish a foothold in the East Coast market, it might be a while before people in Florida and New York have adequate fueling stations for hydrogen.
Considering its faster charging time than electricity, hydrogen only takes minutes compared to electricity’s hours, establishing a refueling network as soon as possible is important for this alternative fuel to become the leading form of energy in the trucking industry. While its primary competition of electricity does not have numerous charging stations for trucks just yet, the total electric network is vast and has had well over a century to develop. We will have to wait and see what happens in the next decade for the trucking industry: while TopMark Funding currently has no plans for providing financing on these trucks, we hope that will change one day!
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