What FirstElement Fuel does

FirstElement Fuel Inc., founded in 2014 and headquartered in Irvine, California, operates the True Zero network — described as the world's most extensive network of retail hydrogen fueling stations, comprising 92 fueling positions across 38 locations throughout California. The company builds, owns, and operates liquid hydrogen storage and dispensing infrastructure for fuel cell electric vehicles (FCEVs), serving both individual consumer drivers of light-duty vehicles such as the Toyota Mirai and commercial fleet operators running Class 8 hydrogen trucks. Its core technology is liquid hydrogen cryogenic dispensing, including the proprietary CryoPump station architecture co-developed with Bosch Rexroth that uses electro-hydraulic drive technology to achieve over 95% efficiency and enable direct high-pressure refueling of heavy-duty trucks in under ten minutes within an 11 m² footprint. FirstElement also manufactures hydrogen refueling components at its Santa Ana, California facility, which is being expanded by over ten times under a California Energy Commission grant awarded in 2023.

The company generates revenue primarily through usage-based retail hydrogen sales at its True Zero stations, charging customers per kilogram of hydrogen dispensed, and increasingly through hydrogen refueling component manufacturing for internal use and potential external sale. Its go-to-market is a hybrid enterprise field sales motion: B2B partnerships with automotive OEMs (Toyota, Hyundai, Honda) and fleet operators (GET Freight, Nikola) for captive demand, combined with consumer-facing retail fueling under the True Zero brand. Strategic capital backing is heavily weighted toward Japanese institutional investors (Mitsui, JBIC, Mitsubishi HC Capital, MUFG, Nikkiso, Air Water) plus Air Liquide as a hydrogen supplier and Toyota Motor North America as a December 2025 strategic investor, alongside California Energy Commission grant funding. The strategic focus has shifted notably from light-duty FCEV infrastructure to heavy-duty commercial trucking, anchored by the 2026 opening of the nation's first commercial hydrogen truck stop in West Oakland and a planned 14 additional stations along major California trucking corridors.

Name

FirstElement Fuel

Legal name

FirstElement Fuel Inc.

Website

https://firstelementfuel.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

51–100 employees

Short description

FirstElement Fuel operates True Zero, the world's most extensive retail hydrogen fueling station network (38 locations, 92 fueling positions) across California, serving light-duty FCEV drivers and commercial heavy-duty truck fleets with proprietary cryo-pump refueling technology developed with Bosch Rexroth.

Ownership category

akta.pro rank

Product category

Hydrogen Fueling Infrastructure

NAICS

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

SIC

Oil & Gas Field Machinery & Equipment (3533)

akta.pro primary industry

Hydrogen Energy Storage & Power-to-X Equipment (electrolyzers, storage, fuel cell systems) (IMAGAHAM)

akta.pro secondary industries

Hydrogen (Industrial & Mobility) (IMAEACAB), Liquid Hydrogen (LH2) Storage & Cryogenic Tank Systems (EUAFAEAB)

Keywords

• Hydrogen fueling infrastructure
• Retail hydrogen stations
• Fuel cell electric vehicles
• Clean transportation fuel
• Cryogenic pump technology

Headquarters

HQ city

Newport Beach

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Hydrogen Fueling Retail: FirstElement Fuel generates revenue through retail hydrogen sales at its True Zero fueling stations across California, charging customers per kilogram of hydrogen dispensed for fuel cell electric vehicles.
2. Hydrogen Refueling Component Manufacturing: Manufacturing and selling hydrogen refueling station components and high-tech equipment at its Santa Ana, California facility, supporting both internal network expansion and potentially external sales.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels1 record

Core offering

FirstElement Fuel builds, owns, and operates the True Zero network - the world's most extensive network of retail hydrogen fueling stations - across California, providing zero-emission hydrogen fuel for light-duty, medium-duty, and heavy-duty fuel cell electric vehicles. The company also manufactures hydrogen refueling station components at its Santa Ana facility and has co-developed proprietary CryoPump technology with Bosch Rexroth for high-capacity heavy-duty truck refueling.

Product overview

FirstElement Fuel operates as a hydrogen fueling infrastructure provider offering the True Zero network - the world's most extensive retail hydrogen fueling station network spanning 38 locations with 92 fueling positions across California. The company manufactures hydrogen refueling components at its Santa Ana facility and has developed CryoPump technology with Bosch for high-capacity heavy-duty truck refueling. The portfolio includes retail fueling stations for light-duty, medium-duty, and heavy-duty vehicles, supported by proprietary cryo-pump technology enabling fast refueling comparable to diesel.

Differentiator

Problem solved

Functional benefit

Brands

• True Zero: The world's most extensive network of hydrogen fueling stations, enabling widespread adoption of hydrogen fuel for light-duty, medium-duty and heavy-duty vehicles.

Products and services

• True Zero Hydrogen Fueling Network

Quantifiable outcome

• Refueling time for heavy-duty trucks reduced to under 10 minutes (same as diesel)
• +5 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and major.

• Bosch RexrothcoreTechnology or Integration · 18 February 2026Collaboration with Bosch Rexroth to develop CryoPump stations using electro-hydraulic drive technology achieving over 95% efficiency, reducing operating costs by up to 70%, enabling heavy-duty truck refueling in under 10 minutes with compact 11 m² design.
• Air LiquidecoreStrategic or Co-development Partner · 1 January 2024Air Liquide supplies liquid hydrogen from its Nevada production facility to power the high-capacity fueling station serving the NorCal Zero hydrogen truck fleet at Port of Oakland.
• NikkisomajorStrategic or Co-development Partner · 1 January 2021Strategic partner in the hydrogen ecosystem, listed as an investment partner during 2021-2023 period.
• Air WatermajorStrategic or Co-development Partner · 1 January 2021Strategic partner in hydrogen infrastructure development, listed as an investment partner during 2021-2023 period.
• HondamajorStrategic or Co-development Partner · 1 January 2014Long-term strategic partner in hydrogen ecosystem, listed as partner during 2014-2016 period and beyond.
• Bay Area AQMDmajorStrategic or Co-development Partner · 1 January 2014Air quality management district partner supporting hydrogen infrastructure development, listed as partner during 2014-2016 period.
• South Coast AQMDmajorStrategic or Co-development Partner · 1 January 2014Air quality management district partner supporting hydrogen infrastructure development in Southern California, listed as partner during 2014-2016 period.

Scale indicators8 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• Iwatani Corporation: Japanese industrial gas and hydrogen company operating hydrogen fueling stations in the US (including California) and Japan; closely comparable retail hydrogen station operator with similar FCEV customer base and infrastructure focus.
• Nel ASA: Norwegian manufacturer of hydrogen fueling station equipment (electrolyzers and H2 stations); directly comparable as a hydrogen refueling infrastructure supplier competing in the same procurement decisions as FirstElement's equipment business.
• ITM Power: UK-based hydrogen equipment manufacturer producing PEM electrolyzers and refueling station systems; comparable as a hydrogen refueling infrastructure provider with similar customer base of station developers and fleet operators.
• Plug Power: US hydrogen fuel cell and station solutions company operating hydrogen fueling infrastructure for material handling and mobility customers; overlapping in hydrogen station deployment and refueling equipment manufacturing.

Broad incumbents

• Linde plc: Global industrial gas major producing and distributing hydrogen at scale; competes broadly in hydrogen supply and supports retail fueling station development, comparable as upstream supplier and parallel infrastructure developer.
• Air Products and Chemicals: Global industrial gas and hydrogen infrastructure company building large-scale green hydrogen production and fueling infrastructure; comparable as a hydrogen infrastructure incumbent and potential supply partner to FirstElement.
• Shell Hydrogen / Shell Mobility: Oil major deploying retail hydrogen fueling stations across California and Europe as part of broader mobility portfolio; comparable as a hydrogen station network operator with similar customer base but much larger parent company.
• Cummins (Accelera by Cummins): Cummins' zero-emission business unit producing hydrogen fuel cell powertrains and electrolyzers for trucks and stationary applications; comparable in hydrogen mobility infrastructure and adjacent to FirstElement's heavy-duty truck customer ecosystem.

Regional players

• H2 Mobility Deutschland: German retail hydrogen station network operator (currently ~90 stations across Germany); comparable operating model as a dedicated hydrogen station network but serving European markets rather than North America.

Emerging players

• Ballard Power Systems: Canadian hydrogen fuel cell manufacturer supplying fuel cell stacks for heavy-duty trucks and buses; comparable as part of the broader hydrogen mobility ecosystem that FirstElement's refueling infrastructure enables and serves.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds5 records

Investors8 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 FirstElement Fuel