HVR Energy secures an additional €12.75 million in financing from the ICO to deploy 30 hydrogen refuelling stations across Spain

HVR will develop 80% of the hydrogen refuelling stations awarded funding in Europe under the second CEF-AFIF call

HVR Energy, a Spanish company specialising in hydrogen infrastructure for mobility, has secured an additional €12.75 million in financing from the ICO for its ACTIVA project, which involves the deployment of 30 hydrogen refuelling stations across Spain.

This is the second round of financing in two years, following the ICO’s €7 million financing package last year to support the deployment of 20 hydrogen refuelling stations. This new investment further demonstrates confidence in HVR Energy’s business model and its ability to lead the transition towards sustainable mobility.

The initiative envisages installing hydrogen refuelling stations at existing service stations. These will be offered to specialised companies under an all-inclusive rental model, facilitating access to renewable hydrogen without requiring operators to make a direct investment.

The financing will cover part of the investment and will be complemented by a €7.6 million European grant awarded under the CEF-AFIF programme, with the ICO acting as an Implementing Partner of the European Commission. In the latest call, HVR secured funding to develop 30 of the 38 stations awarded across Europe. With its ACTIVA model, HVR is firmly positioning itself as a key player in the development of the hydrogen refuelling network in both Spain and Europe.

A strategic and sustainable project backed by the ICO

Through ACTIVA, HVR facilitates access to renewable hydrogen by providing modular and scalable solutions aligned with the European Union’s climate objectives.

The initiative will reduce barriers to the adoption of hydrogen in transport, support decarbonisation and contribute to meeting the targets established under the Alternative Fuels Infrastructure Regulation (AFIR).

CEF-AFIF programme: driving alternative fuels infrastructure across Europe

The European Commission’s CEF-AFIF programme accelerates the deployment of alternative fuels infrastructure across the European transport sector through blended financing, combining European grants with repayable financing from accredited institutions such as the ICO. Between 2019 and 2027, the programme supports electricity, hydrogen and other sustainable fuel projects in ports, airports and land transport networks, contributing to the decarbonisation of mobility across the TEN-T network.

ICO: strategically supporting sustainable mobility in Europe

Since 2020, in its role as an Implementing Partner, the ICO has channelled European funding from the CEF-AFIF programme towards the deployment of alternative fuels infrastructure in Spain. Under the first call, covering the 2019–2024 period, the ICO provided €202 million in financing for 14 projects, supporting the rollout of more than 5,800 electric charging points, as well as natural gas refuelling stations, hydrogen refuelling stations and hydrogen production infrastructure for transport.

Under the latest CEF-AFIF call for the 2024–2027 period, which had a European budget of €1 billion that has now been fully allocated, the ICO approved 15 projects with total financing of €182.5 million. These include HVR Energy’s project, reinforcing the institution’s commitment to transport decarbonisation and the deployment of sustainable infrastructure across the TEN-T network.

Through this financing operation, the ICO reaffirms its commitment to sustainable infrastructure and the energy transition in road transport.