Uber has made a strategic investment in HysetCo, the French leader in hydrogen mobility, as part of a broader €200 million funding round. The investment, made via Uber Green, aims to accelerate the deployment of hydrogen-powered vehicles, particularly for ride-hailing and taxi services.
HysetCo, founded in 2015, operates a unique integrated model encompassing vehicle distribution (via its Stellantis joint venture, Hysett), rental and leasing services, and a growing network of hydrogen refueling stations. The company currently manages over 500 hydrogen vehicles, primarily Toyota Mirai sedans and Stellantis utility vans, and operates 9 stations in the Île-de-France region with plans to expand to 20 stations nationwide.
This funding round, led by Hy24 with participation from Eiffel Investment Group and existing shareholders, will fuel HysetCo's expansion. The capital is earmarked for scaling its vehicle fleet, densifying its station network, and extending its geographic reach beyond its Parisian stronghold.
For Uber, the partnership is a key component of its European sustainability strategy. The platform has committed to becoming a zero-emission mobility platform in Europe by 2030. Integrating HysetCo's hydrogen offerings provides professional drivers on Uber's platform with a practical zero-emission solution that addresses range and refueling time concerns associated with battery-electric vehicles.
The move signals a growing corporate endorsement of hydrogen for urban mobility. By supporting an operator that handles the entire hydrogen ecosystem—from infrastructure to vehicle access—Uber is betting on hydrogen as a viable complement to battery-electric technology in the race to decarbonize transportation.