HTEC Hydrogen Technology & Energy

What HTEC Hydrogen Technology & Energy does

HTEC Hydrogen Technology & Energy Corporation is a privately held Canadian company founded in 2004 and headquartered in Vancouver, British Columbia, that designs, builds, owns, and operates across the full clean hydrogen value chain. Its operations span hydrogen production via electrolysis powered by BC Hydro's renewable hydroelectric grid (achieving carbon intensity below 18 gCO2e/MJ), by-product hydrogen capture and liquefaction, hydrogen distribution, refueling station development, and Class 7 and 8 hydrogen fuel cell electric truck leasing through its wholly-owned Vehicle Leasing Corporation (VLC) subsidiary. The company operates Canada's first hydrogen refueling station network — six open stations across British Columbia and Quebec with more than 20 stations in various stages of development — and has delivered over 130,000 kg of hydrogen while supporting 300+ fuel cell electric vehicles.

HTEC generates revenue from four streams: per-kilogram hydrogen fuel sales at company-owned stations (retail price of $16.50/kg in BC), VLC truck leasing subscriptions bundled with maintenance, compliance support, and telematics, engineering and consulting services to external hydrogen project developers, and infrastructure development partnerships often co-funded by government. Its customer base includes commercial fleet operators (Loblaw Companies, Triple Eight Transport, Tidewater Container Services, Harbour Link Container Services, BC Ferries Commercial Services), ports and industrial operators (DP World for hydrogen-powered gantry cranes), and channel partners for station locations (7-Eleven Canada, Shell, Harnois, Sunoco LP). Hardware and technology partners include Ballard Power Systems (fuel cell engines), Hexagon Purus (Type IV hydrogen storage), Hyundai (XCIENT trucks), Cavendish Hydrogen (dispensing technology), and Powertech Labs (700 bar station equipment).

The company's flagship H2 Gateway program represents an estimated $900 million initiative to deploy up to 20 refueling stations, three production facilities, a 15 tonnes-per-day liquefaction facility, and 100 heavy-duty fuel cell electric trucks across British Columbia and Alberta. HTEC has raised over $100M in cumulative capital, including a CAD$217M investment from Chart Industries (25% ownership) and I Squared Capital (35% ownership) in September 2021 at a CAD$527M post-money valuation, a $337M loan from the Canada Infrastructure Bank in May 2024, and a $49M Strategic Innovation Fund grant in March 2025. The company employs 140+ people across offices in Vancouver and Montreal and is led by founding President and CEO Colin Armstrong.

Name

HTEC Hydrogen Technology & Energy

Legal name

HTEC Hydrogen Technology & Energy Corporation

Website

https://www.htec.ca/

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

51–100 employees

Short description

HTEC is a Vancouver-based private hydrogen infrastructure company that designs, builds, owns, and operates clean hydrogen production, refueling stations, and Class 7-8 fuel cell electric truck leasing across Canada, serving commercial fleet operators, ports, and industrial customers in BC and Quebec.

Ownership category

akta.pro rank

Product category

Clean Hydrogen Infrastructure

NAICS

Industrial Gas Manufacturing (325120), Fuel Dealers (4572)

SIC

Services-Auto Rental & Leasing (No Drivers) (7510), Electric, Gas & Sanitary Services (4900)

akta.pro primary industry

Hydrogen (Industrial & Mobility) (IMAEACAB)

akta.pro secondary industry

Hydrogen Storage Terminals, Depots & Bulk Logistics (Siting, Loading/Unloading) (EUAFAEAI)

Keywords

• Clean hydrogen production
• Hydrogen fueling stations
• Fuel cell electric trucks
• Hydrogen infrastructure development
• Zero-emission fleet leasing

Headquarters

HQ city

Delta

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Personnel, Technology or R&D, Operations, Marketing or Sales

Revenue model

1. Hydrogen Fuel Sales: HTEC operates hydrogen fueling stations and sells hydrogen fuel to light-duty FCEV owners and heavy-duty fleet operators. Revenue is generated through per-kilogram hydrogen sales at company-owned stations.
2. Truck Leasing (VLC): HTEC's Vehicle Leasing Corporation (VLC) leases hydrogen fuel cell electric trucks to fleet operators. The comprehensive service package includes vehicle procurement, maintenance services, compliance support, and telematics monitoring.
3. Engineering Services: HTEC provides expert hydrogen project support with proven infrastructure experience to external customers, including feasibility studies, permitting, design, and operational expertise.
4. Infrastructure Development: HTEC builds, owns, and operates hydrogen production facilities and fueling stations, generating revenue through infrastructure services and government partnerships.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels5 records

Core offering

HTEC designs, builds, owns, and operates end-to-end clean hydrogen infrastructure for transportation — producing low-carbon hydrogen via electrolysis and by-product capture, liquefying and distributing it, and dispensing it through Canada's first hydrogen refueling station network for both light-duty FCEVs and heavy-duty fuel cell electric trucks. Through its wholly owned Vehicle Leasing Corporation (VLC) subsidiary, it also leases hydrogen-powered Class 7/8 trucks to commercial fleet operators with bundled maintenance, compliance, and telematics services.

Product overview

HTEC operates as a full-service hydrogen infrastructure company spanning the entire clean hydrogen value chain. Its core offerings are organized into five integrated business units: Clean Fuels (hydrogen production and liquefaction facilities, including electrolysis-based production and by-product hydrogen capture), Stations and Distribution (Canada's first hydrogen refueling station network with both light-duty and heavy-duty dispensing capability), Engineering Services (project delivery and advisory support), Vehicle Leasing Corporation (VLC — a wholly owned subsidiary leasing hydrogen fuel cell electric trucks to fleet operators), and the H2 Gateway Programme (the overarching initiative coordinating production, stations, and truck leasing into regional hydrogen transportation ecosystems). Together, these units enable end-to-end delivery of hydrogen from production through end use in light-duty and heavy-duty transportation.

Differentiator

Problem solved

Functional benefit

Brands

• H2 Gateway: A full-service sustainable fuel supply chain program focused on reducing emissions in the transportation sector through hydrogen production, distribution, and refueling infrastructure.
• Vehicle Leasing Corporation (VLC)

Products and services

• Clean Fuels (Hydrogen Production and Liquefaction) Hydrogen production and liquefaction facilities that generate low-carbon hydrogen via electrolysis (powered by BC Hydro's renewable hydroelectric grid) and capture industrial by-product hydrogen, for distribution to the company's refueling station network and industrial customers.
• Stations and Distribution Hydrogen fueling station development, ownership, and operation, along with distribution logistics delivering hydrogen across British Columbia, Alberta, and Quebec. Includes both 350 bar light-duty and 700 bar heavy-duty dispensing capability.
• Engineering Services Expert hydrogen project support services leveraging proven infrastructure experience to help clients deliver hydrogen projects with reduced risk, covering feasibility, permitting, design, construction, and operational phases.
• Vehicle Leasing Corporation (VLC) - Hydrogen FCET Truck Leasing HTEC's wholly owned subsidiary that procures, manages, and leases hydrogen fuel cell electric trucks (Class 7 and 8) to fleet operators, providing maintenance services and proprietary telematics for vehicle performance monitoring.
• H2 Gateway Programme HTEC's flagship initiative that integrates hydrogen supply and demand through a coordinated network of hydrogen production facilities, heavy- and light-duty fueling stations, and truck leasing to drive adoption of hydrogen as a transportation fuel across regional hubs in Western Canada.

Quantifiable outcome

• Carbon intensity of hydrogen < 18 gCO2e/MJ - approximately 90% reduction in emissions when used in FCEVs compared to gasoline or diesel
• +3 more outcomes

Named customers12 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

19 partnerships are on record, tiered strategic, core and minor.

• FortescuestrategicStrategic or Co-development Partner · 29 November 2023Fortescue and HTEC signed MOU to develop Canada's first domestic green hydrogen supply chain co-located with an export facility. Fortescue proposes a green hydrogen/ammonia facility in Prince George, with HTEC as offtake partner.
• ERCO WorldwidecoreStrategic or Co-development Partner · 5 December 2022HTEC agreed to purchase ERCO's industrial land in North Vancouver where ERCO will lease back portion and continue generating by-product hydrogen gas. HTEC will build a 15-tonne per day clean hydrogen plant at the site.
• 7-Eleven CanadacoreChannel Partner/ Reseller/ DistributorStrategic partnership for hydrogen fueling station locations at 7-Eleven Canada retail sites in BC. Partnership includes dedicated hydrogen fueling spaces at multiple locations including Kelowna, North Vancouver, Victoria, and Vancouver.
• ShellcoreChannel Partner/ Reseller/ DistributorPartnership with Shell for hydrogen station locations in Vancouver and Burnaby. HTEC opened Canada's first retail hydrogen station in partnership with Shell in 2018.
• FortisBC Energy Inc.coreStrategic or Co-development PartnerFortisBC provided $30,000 through Clean Growth Innovation Fund for hydrogen truck demonstration with Loblaw. FortisBC is exploring lower carbon solutions for heavy trucking and supports hydrogen adoption in BC.
• Hyundai Motor CompanycoreStrategic or Co-development PartnerHyundai supplies XCIENT Fuel Cell trucks for BC hydrogen truck pilot projects. The partnership includes deployment of Hyundai fuel cell trucks through HTEC's VLC leasing program.
• Air LiquidecoreStrategic or Co-development PartnerAir Liquide is listed as a partner/client, collaborating on hydrogen infrastructure and station network development in Canada.
• HarnoiscoreChannel Partner/ Reseller/ DistributorHarnois Groupe pétrolier partnership for hydrogen refueling network in Quebec. HTEC supports Toyota and Harnois in operating a retail hydrogen station in Quebec City.
• Mitsui & Co. (Canada)strategicStrategic or Co-development PartnerHTEC partnered with Mitsui to develop a 5.0 MW electrolytic hydrogen production project in BC that will provide fuel to HTEC's station network and help decarbonize local natural gas use.
• Ballard Power SystemscoreTechnology or IntegrationBallard provides FCmove HD+ fuel-cell engines for heavy-duty mobility applications. Ballard powers the hydrogen yard trucks and drayage trucks in HTEC's port and truck pilot projects.
• Hexagon PuruscoreTechnology or IntegrationHexagon provides Type IV hydrogen-storage systems and high-energy density Li-ion battery packs for fuel cell trucks in BC Hydrogen Ports Project.
• Powertech LabscoreTechnology or IntegrationPowertech Labs provides station equipment for HTEC's Tsawwassen heavy-duty hydrogen station, enabling 700 bar fueling capability for Class 7 and 8 trucks.
• Cavendish HydrogencoreTechnology or IntegrationCavendish Hydrogen provides fueling technology and equipment for HTEC's hydrogen stations, including the sixth station at SE Marine Drive in Vancouver.
• Tsawwassen First NationcoreStrategic or Co-development PartnerTsawwassen First Nation (TFN) is the landowner for HTEC's heavy-duty hydrogen station on TFN industrial lands. Collaboration includes site selection, permitting, development, and local TFN artist artwork installations.
• Sunoco LPcoreChannel Partner/ Reseller/ DistributorSunoco LP owns the Chevron Commercial Cardlock site where HTEC operates its Tsawwassen heavy-duty hydrogen station.
• BC HydrocoreStrategic or Co-development PartnerBC Hydro provides renewable hydroelectric electricity for HTEC's electrolyzers. With 98%+ of BC power from clean/renewable sources, BC Hydro enables low-carbon hydrogen production.
• Alberta Motor Transport Association (AMTA)minorStrategic or Co-development PartnerAMTA supports hydrogen truck demonstration through Trucking Testbed, piloting zero-emission freight hauling in Western Canada.
• BC Trucking Association (BCTA)minorStrategic or Co-development PartnerBCTA supports hydrogen truck pilot projects and advocates for hydrogen adoption in BC trucking industry.
• DeloitteminorImplementation/ SI/ Consulting PartnerDeloitte provides data collection and analysis support through Transport Canada's Zero Emission Trucking Program for hydrogen truck demonstrations.

Scale indicators18 records

Recent moves7 records

Expansion highlights8 records

Direct peers

• Air Liquide: Global industrial gas major producing and distributing hydrogen at scale, including for mobility applications. Listed as a partner in HTEC's station network and operates comparable hydrogen infrastructure worldwide.
• Air Products: Major hydrogen producer and infrastructure operator with global green hydrogen projects and hydrogen-for-mobility fueling station deployments. Comparable in building end-to-end clean hydrogen supply chains.
• Linde: World's largest industrial gases company, with significant hydrogen production, liquefaction, and distribution infrastructure plus mobility fueling deployments. Closely comparable in core hydrogen value chain.
• Nel ASA: Norwegian company specializing in hydrogen electrolyzers and hydrogen fueling station equipment. Direct competitor in the hydrogen station equipment and supply ecosystem that HTEC builds and operates.
• Plug Power: US-based hydrogen fuel cell and green hydrogen producer operating fueling stations and supplying end-users in logistics and material handling. Closest US-listed peer in integrated hydrogen value chain.
• Ballard Power Systems: Canadian fuel cell systems provider that supplies HTEC's port truck deployments (FCmove HD+) and is a Core technology partner. Comparable as a Canadian-headquartered hydrogen fuel cell company with shared customers.

Broad incumbents

• Chart Industries: Global manufacturer of cryogenic and hydrogen liquefaction equipment, also a 25% owner of HTEC. Comparable as a supplier across the hydrogen value chain with broader industrial gas equipment exposure.
• Cummins (Accelera): Diversified powertrain major with a hydrogen fuel cell and electrolyzer business (formerly Hydrogenics, Canadian). Broad incumbent with overlapping Canadian hydrogen heritage and heavy-duty mobility ambitions.

Emerging players

• Hydrogenious LOHC Technologies: Emerging hydrogen logistics company using liquid organic hydrogen carrier technology. Partial overlap in hydrogen storage and bulk logistics that could complement or compete with HTEC's liquefaction plans.

Others

• Shell Hydrogen: Channel partner for HTEC's Vancouver/Burnaby stations and a broader hydrogen-for-mobility player with global deployments. Relevant as both a partner and a potential competitor in retail hydrogen refueling.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/htec-hydrogen-technology-and-energy-corp
• Xx.com/hteccanada
• Facebookfacebook.com/htecCAD

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries2 records

Funding overview

Funding rounds9 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HTEC Hydrogen Technology & Energy