A consortium that includes Macquarie Group and Hyundai Motor has secured grant funding to deploy 30 hydrogen fuel cell electric trucks in Oakland, Calif.
The project, known as NorCAL ZERO, will be led by the Center for Transportation and the Environment. It will deliver trucks in early 2023 in the city of Oakland and in the Port of Oakland area.
Macquarie’s Specialized and Asset Finance division, part of its Commodities and Global Markets group, will own and lease the FCETs to the fleet operator, Glovis America. First Element Fuel will build and operate a high throughput liquid hydrogen fueling station with hydrogen fuel provided by Air Liquide.
The project marks Macquarie’s entry into the zero-emission hydrogen fuel cell electric vehicle market.
“Macquarie has actively been investing in projects and platforms related to the transition to a lower-carbon future and we are particularly pleased to contribute to an effort that will put 30 zero-emission
