Clean Logistics Seeks Partner to Produce Hydrogen Trucks, Raises Funds for Survival

Clean Logistics, a financially troubled start-up based in Hamburg, Germany, is looking for a partner to produce hydrogen trucks. They have changed their business strategy and will now outsource the production of their emissions-free vehicles instead of doing it in-house. They have also sold off their subsidiary Ginaf Trucks, which was acquired last July, to reduce their liabilities and raise funds. Additionally, they are issuing 2.7 million new shares at 1.80 euros each to secure their survival. The company was founded by two entrepreneurs who developed the “Fyuriant” hydrogen truck and recently signed a contract with GP Joule for 5,000 hydrogen lorries.

The Benefits of Hydrogen

Hydrogen is a versatile and abundant element that has many potential uses. It can be used as an energy source for fuel cells, as a chemical feedstock for the production of fertilizers and other products, and even as a propellant for rockets. Hydrogen is also an environmentally friendly energy source because it produces no emissions when burned. Additionally, hydrogen can be produced from renewable sources such as wind, solar, or biomass, making it an attractive option for sustainable energy production.
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Picture source: Karsten Würth