Phillips 66 & H2 Energy Europe announced they have closed on a 50-50 joint venture to set up and operate a network of hydrogen refueling retail sites in Germany, Austria and Denmark. JET H2 Energy Austria, the joint venture between subsidiaries Phillips 66 Limited and H2 Energy Europe SA, will combine the retail expertise of Phillips 66 and the hydrogen expertise of H2 Energy and be well positioned to boost the development of hydrogen in Europe. The new company plans to develop approximately 250 hydrogen refueling stations by 2026.JET H2 Energy’s network of hydrogen refueling stations for heavy- and light-duty and passenger vehicles will comprise existing JET® branded retail stations as well as new locations on major transport routes and at customer sites. JET H2 Energy will require governmental funding, where applicable, for the development of the refueling network.The company intends to supply its sites with green hydrogen and build relationships with customers and original equipment manufacturers. Green hydrogen is a zero-carbon energy carrier and fuel that is produced by splitting water into hydrogen and oxygen using renewable electricity. In vehicles, hydrogen is converted to electricity in fuel cells that power cars and trucks, with water being its only emission.JET H2 Energy will benefit from its close ties with Hyundai Hydrogen Mobility, the exclusive European reseller of the Hyundai Xcient hydrogen fuel cell truck.