US supermajor Chevron and Japanese carmaker Toyota have signed a memorandum of understanding to explore a strategic alliance to catalyse and lead the development of commercially viable, large-scale businesses in hydrogen.
Through their subsidiaries Chevron Products Company and Toyota Motor North America the companies will work on three main strategic priorities: collaborating on hydrogen-related public policy measures that support the development of hydrogen infrastructure; understanding current and future market demand for light-duty and heavy-duty fuel cell electric vehicles and supply opportunities for that demand; and exploring opportunities to jointly pursue research and development in hydrogen powered transportation and storage.
“Working towards a strategic alliance on hydrogen presents an opportunity to build a large-scale business in a low-carbon area that is complementary to our current offerings,” said Andy Walz, president of Chevron’s Americas Fuels & Lubricants. “This opportunity leverages our market position, assets, technology, and organizational capability and supports our efforts to help advance a lower-carbon future.”
“This is another important step toward building a hydrogen economy,” said Bob Carter, executive vice president, Toyota Motor North America. “Combining Toyota’s decades of experience in developing hydrogen powered fuel cell electric technology with Chevron’s deep resources in the energy sector has the potential to create new transportation choices for both consumers and businesses that move us toward our goal of carbon neutrality.”
Chevron is advancing hydrogen opportunities through strategic partnerships and by investing in demonstration projects and technologies related to production, transport and storage.
The company is a board member of the California Fuel Cell Partnership, which supports a long-term vision for hydrogen in California. Chevron has also partnered with the DOE on a hydrogen study that is exploring the potential of RNG to manufacture hydrogen, joined the Hydrogen Council and also became a member of the OGCI transportation workstream focusing on hydrogen as a fuel.
As a proof of concept, Chevron’s affiliate GS Caltex launched the first all-in-one fuel station in 2020, providing hydrogen, electric vehicle charging, liquefied petroleum gas, gasoline, and diesel fuel.