Fabrum Partners with Toyota for Hydrogen Technology Expansion in New Zealand
Key Ideas
- Fabrum, a New Zealand-based company, will supply its liquid hydrogen storage technology to Toyota for hydrogen production and refuelling systems.
- The collaboration with Toyota marks Fabrum's expansion into new mobility projects, showcasing the company's expertise and potential in decarbonisation technologies.
- The partnership also highlights the growing interest in hydrogen solutions, with Fabrum receiving significant funding and support from various investors for its hydrogen technologies.
- The involvement of top business leaders and the New Zealand Prime Minister in promoting the collaboration emphasizes the importance of hydrogen in combating climate change and driving economic growth.
Fabrum, a New Zealand-based company, has recently announced a partnership with Toyota to supply its liquid hydrogen storage technology for hydrogen production and refuelling systems. This collaboration signifies Fabrum's entry into new mobility projects and demonstrates its capabilities in developing decarbonisation technologies. Fabrum's CEO, Dr Ojas Mahapatra, highlighted the significance of the partnership with Toyota, a leader in new technologies and innovations, as a pivotal moment in their relationship. The company's success in securing this order from Toyota follows its previous collaboration with Obayashi Corporation on a dual-pressure hydrogen refuelling technology in Auckland.
Additionally, Fabrum's achievements in the hydrogen sector have attracted significant support, with a recent $23 million Series A funding round led by investors such as AP Ventures, Fortescue Future Industries, K1W1, and Obayashi. This financial backing underscores the growing interest and investment in hydrogen technologies.
The partnership between Fabrum and Toyota has garnered attention not only for its technological advancements but also for its potential impact on combating climate change. New Zealand Prime Minister, Rt Hon Christopher Luxon, praised the collaboration, highlighting the importance of decarbonisation technologies in addressing environmental challenges. The involvement of top business leaders and the upcoming delegation to Japan further emphasize the strategic significance of this partnership and the role of hydrogen in driving economic growth and sustainability efforts.
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