The Instituto de Crédito Oficial (ICO) has granted €12.75 million in financing to HVR Energy, a Spanish company specialized in hydrogen infrastructure for mobility, for its ACTIVA project, which involves the deployment of 30 hydrogen refueling stations across Spain.
This marks ICO’s second round of financing in two years, following its support last year for the rollout of 20 hydrogen stations through €7 million in funding. This new investment reinforces ICO’s commitment to strategic projects that contribute to the development of sustainable mobility and consolidates its confidence in HVR Energy’s business model.
The initiative предусматриes the installation of hydrogen stations at existing service stations, which will be offered on an all-inclusive rental basis to specialized operators, facilitating access to renewable hydrogen without requiring direct investment from operators.
The transaction will cover part of the investment and is complemented by a €7.6 million European grant awarded under the CEF AFIF programme, promoted by the European Commission, in which ICO acts as Implementing Partner. In the latest call, HVR secured support to develop 30 of the 38 stations awarded across Europe. With its ACTIVA model, HVR is positioning itself as a key player in the hydrogen network both in Spain and across Europe.
Strategic and sustainable project backed by ICO
Through ACTIVA, HVR facilitates access to renewable hydrogen via modular and scalable solutions, fully aligned with the European Union’s climate objectives. The initiative will reduce barriers to entry for this energy vector in transport, contribute to decarbonization, and support compliance with the AFIR Regulation on alternative fuels infrastructure.
CEF AFIF programme: European boost for alternative fuels
The European Commission’s CEF AFIF programme promotes the deployment of alternative fuel infrastructure through blended financing, combining EU grants with repayable financing provided by accredited entities such as ICO. Between 2019 and 2027, the programme supports projects in electricity, hydrogen, and other sustainable fuels across ports, airports, and land transport networks, contributing to the decarbonization of mobility within the TEN-T network.
ICO: strategic driver of sustainable mobility in Europe
Since 2020, as an Implementing Partner, ICO has been channeling EU funds from the CEF AFIF programme to deploy alternative fuel infrastructure in Spain. In the first call (2019–2024), ICO financed €202 million across 14 projects, supporting more than 5,800 electric charging points and various hydrogen and gas transport infrastructures.
In the latest call (2024–2027), ICO has approved 15 projects totaling €182.5 million, including HVR Energy’s project, reinforcing its commitment to transport decarbonization and the deployment of sustainable infrastructure across the TEN-T network.
With this transaction, ICO reaffirms its commitment to sustainable infrastructure and to the energy transition in road transport.
About HVR Energy
HVR Energy is a Spanish company specialized in the development and operation of hydrogen refueling stations (hydrogen stations) for sustainable mobility. With its proprietary technology approach and a modular, scalable model, the company deploys ready-to-operate solutions that significantly reduce costs and facilitate the adoption of renewable hydrogen across all types of fleets.
The company is driving one of the most ambitious hydrogen infrastructure plans in Europe, aiming to reach 75 operational hydrogen stations in Spain by 2030. To date, HVR Energy has secured more than €33 million in public and private funding, which will enable the rollout of at least 55 stations by 2028.
cloud technology axon
Addleshaw Goddard (AG), the London-headquartered international law fir...
