Toyota Inks Pact With Abu Dhabi National Oil Company To Test High-Speed Hydrogen Refueling Station

Toyota Motor Corporation TM will provide hydrogen-powered vehicles to test a high-speed hydrogen refueling station in Abu Dhabi.

For the development, oil giant Abu Dhabi National Oil Company, or ADNOC, announced a partnership with Toyota and Al-Futtaim Motors to test the high-speed hydrogen refueling station using a fleet of clean hydrogen-powered vehicles. 

The station, built in Masdar City by ADNOC, will create clean hydrogen from water using an electrolyzer powered by clean grid electricity. 

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The automaker will help trial the first high-speed hydrogen refueling station to produce "clean hydrogen."  

ADNOC has allocated $15 billion to new energies and decarbonization technologies to reduce its carbon intensity by 25% by 2030 and enable its Net Zero by 2050 ambition.

Price Action: TM shares are trading higher by 1.47% to $161.80 in the premarket session on the last check Tuesday.