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EODev strengthens its position with Toyota’s investment

After raising €20M last September, EODev, a young innovative SME, industrializing solutions to accelerate the energy transition, continues its development by announcing the investment of TOYOTA, the world's leading car manufacturer and a pioneer in hydrogen mobility with the launch of the Mirai sedan in 2014. EODev and Toyota thus confirm their common will to meet energy needs with reliable, sustainable, efficient, and affordable solutions.

Both companies will combine their respective know-how: versatile and compact hydrogen fuel cells for TOYOTA, and industrialized, ready-to-use zero-emission hydrogen solutions for EODev.

Through this alliance, TOYOTA becomes a partner alongside the Accor Group and Thélem Assurances, EODev's long-standing shareholders, and the industrialist: Groupe Monnoyeur. This new investment demonstrates once again the technical excellence of EODev's products and the relevance of a strategy resolutely oriented towards the energy transition.

To quickly become a major player

The arrival of TOYOTA allows the young company, which employs around 40 people, to accelerate its growth both nationally and internationally, and to position itself as one of the innovative players in the French hydrogen industry, whose development is now a government priority.

« We are thrilled with Toyota’s investment in our business, which marks a milestone in EODev’s development. Our long-lasting relationship, initially industrial, with the joint development of the GEH2 and the REXH2, validated on the Energy Observer boat, has now become a closer partnership with Toyota's investment. This is a real recognition of the work carried out by our respective teams and a strategic acceleration for EODev. » Jérémie Lagarrigue, CEO, EODev

« We are extremely happy to support and be more closely involved in the initiatives by Energy Observer Developments. This will enable the industrialization of hydrogen solutions developed by both companies’ engineers using the Toyota fuel cell technology. We both embrace the Sustainable Development Goals as a direction towards a better society and a better world. Our partnership has already been very successful, and this enhanced cooperation will help further develop products that accelerate decarbonization and the growth of a hydrogen society. » Matt Harrison, President and CEO, Toyota Motor Europe

Close collaboration taken steps further

EODev and TOYOTA, official partner of Energy Observer since 2017, have developed and installed a specific fuel cell module in the eponymous catamaran, which is the first clean energy self-sufficient hydrogen vessel sailing around the world. The combination of the engineering and R&D know-how of EODev and TOYOTA is a success: TOYOTA's cutting-edge technology, at the heart of EODev's modular hydrogen power generator, REXH2, allows to extend the autonomy of ships, without any CO2 or fine particle emissions, and no noise.

Enabling the industrialization of hydrogen solutions on land and at sea, based on TOYOTA's fuel cell technology, is now EODev's primary goal:

  • The GEH2, zero-emission hydrogen power generators for off-grid use,
  • The REXH2, on-board power generators for maritime and river use,
  • The STSH2, green hydrogen production and refueling mobile stations.

The two companies have embraced a common mission: raising awareness on the versatility of this energy vector and developing concrete solutions for the transition to a hydrogen society.