HVR Energy
HVR Energy is a Spanish hydrogen refueling infrastructure operator deploying modular ACTIVA and INICIA stations at existing service stations across Spain and France. It serves commercial fleets, service station owners, and OEMs via a pay-per-use, no-upfront-CAPEX model, targeting 75 stations by 2030.
- Company typePrivate
- Founded2023
- HeadquartersMadrid, Spain
- Headcount1–10
- GTM typeB2B
- OfferingHardware or Manufacturing
What HVR Energy does
HVR Energy (Hidrógeno Verde Renovable, S.L.) is a Spanish hydrogen refueling infrastructure operator founded in 2023 and headquartered in Madrid. The company designs, deploys, and operates modular hydrogen refueling stations (HRS) at existing service stations and fleet depots, serving commercial and industrial fleet operators, service station owners, automotive OEMs, and urban transport operators across Spain and France. Its core technology comprises two proprietary station models — ACTIVA (350/700 bar dual-dispenser, 7-component system occupying ~20 m² with 15 kW power requirement) and INICIA (350 bar compact 3-component system for rapid deployment) — both designed to integrate into existing fuel retail infrastructure without major civil works, reportedly reducing CAPEX and OPEX by over 75% versus conventional hydrogen stations.
The business model is built on a pay-per-use (Pago por Uso) approach that eliminates upfront capital investment for customers, with revenue generated through hydrogen sales, all-inclusive station rentals to service station operators, and deployment/managed services. HVR targets fleet segments where battery electrification faces limitations — long-haul trucking, urban delivery, VTC ride-hailing (Corvus, Uber), and municipal transport — and has secured 55 subsidized stations through EU programs (CEF AFIF, PATSYD) and Spanish national financing (ICO), with a target of 75 operational stations in Spain by 2030 to meet EU AFIR requirements.
As of early 2026, HVR operates 5 stations (Coslada plus four INICIA stations completed in Q1 2026), has signed 25+ strategic agreements with partners including CEEES, Q8, EVARM, BMW Group, Corvus, H2Duero, Enagás, Repsol, and Iberdrola, and has expanded internationally to France via ACTIVA stations at BMW Group's Miramas facility. The company has cumulatively raised approximately €38M+ across ICO loans, EU subsidies, private investment, and a French crowdfunding bond. HVR is privately held, majority-owned by Langur Holding Corporation S.L., with a small team (1-10 employees) led by President/CEO Luis Felipe Suárez-Olea del Arco and Director General Santiago Ramas López (ex-Wolftank Iberia, IESE MBA).
HVR Energy firmographics
Firmographics- Name
- HVR Energy
- Legal name
- HIDRÓGENO VERDE RENOVABLE, S.L.
- Website
- https://hvrenergy.com
- Company type
- Private
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- HVR Energy is a Spanish hydrogen refueling infrastructure operator deploying modular ACTIVA and INICIA stations at existing service stations across Spain and France. It serves commercial fleets, service station owners, and OEMs via a pay-per-use, no-upfront-CAPEX model, targeting 75 stations by 2030.
- Ownership category
- akta.pro rank
HVR Energy industry classification
Industry- Product category
- Hydrogen Refueling Infrastructure
- NAICS
- Fuel Dealers (45721)
- SIC
- Transportation Services (4700)
- akta.pro primary industry
- Fueling, Charging & Energy Management (Diesel/CNG/H2/EV) (THAIANAF)
- akta.pro secondary industry
- Fleet Fuel & Energy Management (Fuel Programs, EV Charging Ops) (TLABAIAI)
Keywords
Where HVR Energy is headquartered
LocationHeadquarters
- HQ city
- Madrid
- HQ country
- Spain
- HQ region
- Europe
Offices7 records
Markets served
HVR Energy business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Operations, Supply Chain, Technology or R&D, Infrastructure, Personnel, Marketing or Sales
Revenue model
- Hydrogen Sales: HVR Energy sells hydrogen to fleet operators, service stations, and end customers at refueling stations. Hydrogen is delivered via transported compressed gas (≥500 bar), dispensed at 350 or 700 bar depending on station model and vehicle type. This is the primary revenue stream, operating on a consumption/pay-per-use basis.
- Station Rental (All-Inclusive): Stations are offered to service station operators and specialized companies on an all-inclusive rental basis. Operators pay a rental fee that includes station use, maintenance, and hydrogen supply, without any upfront capital investment.
- Station Deployment & Project Management: HVR Energy designs, installs, commissions, and maintains hydrogen refueling stations. Revenue is generated through project execution and ongoing operational services, including monitoring and maintenance contracts.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Pay-as-you-go | Pay-Per-Use (Pago por Uso) — no upfront investment required |
| Subscription | Multi-year contract | All-Inclusive Station Rental for Service Station Operators |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels6 records
HVR Energy product offering
Product offeringCore offering
HVR Energy designs, deploys, and operates a modular hydrogen refueling station network across Spain for road mobility. Its ACTIVA and INICIA stations integrate into existing service stations with minimal civil works (20 m² footprint, 15 kW power), supporting 350 bar (heavy transport) and 700 bar (light vehicles) dispensing via transported hydrogen at ≥500 bar. The company sells hydrogen and rents stations on a pay-per-use / all-inclusive basis, eliminating upfront CAPEX for fleet operators and station owners.
Product overview
HVR Energy operates a hydrogen refueling station network across Spain, offering two named station models — ACTIVA and INICIA — and a pay-per-use business model that eliminates upfront capital investment for station operators. ACTIVA is the full-featured modular station supporting both 350 and 700 bar dispensing for light and heavy vehicles, while INICIA is the compact rapid-deployment station operating at 350 bar for lighter-duty and pilot deployments. Both solutions are designed to integrate into existing service station infrastructure, occupy approximately 20 m², and require minimal electrical power (~15 kW). The company operates its own hydrogen logistics and storage model, sourcing transported hydrogen at ≥500 bar to minimize on-site compression needs.
Differentiator
Problem solved
Functional benefit
Brands
- ACTIVA: Modular hydrogen refueling station solution with double dispenser (350/700 bar), 20m² footprint, 15kW power requirement, designed for existing service stations with AFIR compliance
- INICIA
Products and services
- ACTIVA Hydrogen Refueling Station Flagship modular hydrogen refueling station designed for deployment at existing service stations. Features a double dispenser offering both 350 bar and 700 bar refueling for light vehicles, heavy trucks, and buses. Integrates seven modules (dispensers, compression cabinet, air compressor, TPED/PED storage, connection panel, distribution/control panel, and optional chiller), occupies approximately 20 m², consumes 15 kW of power, and operates using transported hydrogen at ≥500 bar. Reduces CAPEX and OPEX by over 75% versus conventional hydrogen stations and supports AFIR compliance.
- INICIA Hydrogen Refueling Station Compact and rapid-deployment hydrogen refueling solution serving as entry point into the hydrogen refueling network. Dispenses at 350 bar using a simple three-element system (dispenser, disconnection panel, and TPED ≥500 bar storage), occupies 20 m², and requires approximately 15 kW of power. Designed for integration into existing service stations without major civil works; optimized for quick installation, lower CAPEX/OPEX, and scaling through external hydrogen logistics. Co-funded by EU NextGenerationEU under the PRTR (PATSYD-24-00049).
- Pay-Per-Use Hydrogen Supply (Pago por Uso) Hydrogen sales to fleet operators, service stations, and end customers at HVR refueling stations on a consumption/pay-per-use basis. Hydrogen delivered via transported compressed gas (≥500 bar), dispensed at 350 or 700 bar depending on station model and vehicle type. No upfront customer investment required.
- All-Inclusive Station Rental for Service Station Operators Stations offered to service station operators and specialized companies on an all-inclusive rental basis. Operators pay a recurring rental fee that includes station use, maintenance, and hydrogen supply, without any upfront capital investment. CAPEX is partially covered by public funding (ICO, CEF AFIF, EU subsidies). Includes installation, maintenance, hydrogen supply, and monitoring.
- Hydrogen Refueling Station Deployment & Managed Services End-to-end design, installation, commissioning, and ongoing operational management of hydrogen refueling stations. Includes real-time monitoring of all operational parameters, preventive and corrective maintenance by a specialized operations team, and ongoing service contracts for fleet operators and service station owners.
Quantifiable outcome
- 75 hydrogen refueling stations targeted in Spain by 2030, aligned with EU AFIR regulation
- +4 more outcomes
Companies that use HVR Energy
Customer profileNamed customers7 records
Segments5 records
Ideal customer profiles4 records
HVR Energy technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
HVR Energy partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core and minor.
- Corvus Global ServicecoreHVR Energy and Corvus Global Service (operator with 500+ VTC licenses, Uber as main client) signed a strategic agreement to develop the largest hydrogen mobility project in the Community of Madrid. Plans include a high-capacity hydrogen station serving VTC vehicles, trucks, and buses, targeting 100+ hydrogen vehicles. Station expected to be operational by end 2027/early 2028.
- BMW GroupcoreHVR Energy installed ACTIVA stations at BMW Group facilities in Miramas (France) and Granada (Spain) for hydrogen vehicle testing with BMW iX5 Hydrogen. BMW's validation of HVR's technology in real-world conditions positions HVR as a credible infrastructure partner for automotive OEMs entering the Spanish hydrogen vehicle market.
- COE (Comité Olímpico Español)minorHVR Energy signed a sponsorship agreement with the Spanish Olympic Committee (COE) through the Los Angeles 2028 Olympics. HVR will provide five hydrogen-powered vehicles to the COE for sustainable mobility operations. The partnership aligns HVR's brand with elite sport and sustainability leadership in Spain.
- CEEES (Confederación Española de Empresarios de Estaciones de Servicio)coreHVR Energy and CEEES signed a memorandum of understanding (MoU) to jointly promote hydrogen refueling stations across Spain, enabling renewable hydrogen integration into existing service station infrastructure. HVR aims to operate 75 hydrogen stations in Spain by 2030, supported by over €6 million in private investment and €33 million in total financing. CEEES represents thousands of Spanish service station operators.
- H2DuerocoreH2Duero (80% owned by Redexis, 20% by SOMACYL) and HVR Energy signed a strategic agreement for the production and supply of renewable hydrogen. H2Duero operates a 3 MW PEM electrolyzer producing up to 300 tonnes/year of renewable hydrogen at Garray (Soria). HVR's network of 75 planned stations provides the demand anchor for this production.
- Scale Green Energy (Enagás)minorScale Green Energy (Enagás subsidiary) operates hydrogen refueling infrastructure in Spain. During the Madrid–Barcelona hydrogen journey, HVR conducted the first 700 bar refueling at Scale Green Energy's station in Madrid, demonstrating interoperability and collaboration within the Spanish hydrogen ecosystem.
- Grupo Zoilo Ríos (El Cisne / Repsol)minorGrupo Zoilo Ríos operates the El Cisne hydrogen station (Repsol) in Zaragoza. During the Madrid–Barcelona hydrogen journey, HVR stopped at El Cisne for hydrogen refueling, validating interoperability between HVR's vehicles and third-party hydrogen infrastructure operators.
- Fundación Hidrógeno AragónminorFundación Hidrógeno Aragón is a European reference institution for hydrogen technology. During the Madrid–Barcelona route, HVR performed a 700 bar refueling at the foundation, validating HVR's hydrogen operations in collaboration with regional hydrogen leadership.
- IberdrolaminorIberdrola operates hydrogen refueling infrastructure in Spain. During the Madrid–Barcelona hydrogen journey, HVR completed its final refueling at an Iberdrola station in Barcelona, demonstrating ecosystem collaboration within the Spanish hydrogen infrastructure landscape.
- RepsolminorRepsol operates hydrogen refueling stations through its network, including El Cisne (Zaragoza) visited during the Madrid–Barcelona hydrogen journey. Repsol represents an established fuel retail network that could potentially integrate HVR's modular hydrogen stations.
- EVARMcoreHVR Energy and EVARM formed a partnership to promote hydrogen mobility in Spain by opening new hydrogen refueling facilities in Madrid. EVARM provides hydrogen-adapted vehicles (new trucks, minibuses, retrofit) and HVR provides refueling infrastructure, creating a complete hydrogen mobility ecosystem for commercial and industrial fleets. EVARM is opening new facilities in Madrid to support this collaboration.
- Q8 (Q8 Energy Red)coreHVR Energy and Q8 signed an MoU to deploy INICIA hydrogen stations at Q8 service stations in Spain. First phase prioritizes Badajoz and Córdoba before March 2026, with INICIA stations (350 bar). HVR handles installation, commissioning, maintenance, and hydrogen supply; Q8 handles sales to end customers.
Scale indicators9 records
Recent moves6 records
Expansion highlights7 records
HVR Energy competitors and assessment
Company assessmentDirect peers
- Nel ASA: Norwegian hydrogen equipment company providing electrolyzers and H2 refueling stations globally. Nel supplies HRS units (H2Station) to fleets and service-station operators, competing with HVR's INICIA/ACTIVA products in the European road-mobility segment.
- McPhy Energy: French-based hydrogen equipment and refueling station provider active across European mobility projects. McPhy's compact station offerings and French/European footprint position it as a direct competitor to HVR's modular, service-station-integrated HRS design.
- ITM Power: UK-based manufacturer and operator of modular hydrogen refueling stations serving road mobility fleets across Europe. ITM Power competes directly with HVR in compact, integrated HRS design for service-station and fleet deployments, and is one of the largest pure-play HRS players in the EU.
Broad incumbents
- Air Liquide: Global industrial gases leader supplying hydrogen and operating hydrogen mobility infrastructure across Europe. Air Liquide's hydrogen supply chain and refueling assets position it as a relevant broad incumbent in the same ecosystem as HVR.
- Enagás (Scale Green Energy): Spanish gas system operator with hydrogen mobility subsidiary Scale Green Energy, operating 700 bar hydrogen refueling in Madrid. Enagás is a large, regulated infrastructure player active in Spanish hydrogen distribution and refueling.
- Repsol: Spanish integrated energy major operating service stations across Spain including hydrogen refueling (El Cisne, Zaragoza). Repsol's extensive forecourt network and balance sheet make it a key incumbent alternative to HVR for service-station-integrated hydrogen deployments.
- TotalEnergies: Global integrated energy company with European hydrogen mobility pilots and refueling station rollouts. TotalEnergies offers an incumbent alternative for fleets and service-station hydrogen integration across HVR's target geographies.
- Shell (Shell Mobility): Global energy major operating hydrogen refueling stations across Europe and deploying H2 mobility partnerships. Shell competes broadly in road-fuel infrastructure and is a relevant large-fleet incumbent alternative to HVR.
- Iberdrola: Spanish global utility with active hydrogen mobility and refueling infrastructure in Spain (e.g., Barcelona station visited during HVR's Madrid-Barcelona run). Iberdrola competes with HVR as an integrated energy major that can deploy hydrogen stations alongside its renewable generation business.
Emerging players
- Plug Power: US-based hydrogen fuel cell and refueling infrastructure company expanding into European road mobility and stationary applications. Plug Power is an emerging player with partial overlap in HRS technology and green hydrogen generation relevant to HVR's roadmap.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
HVR Energy social profiles
Digital presenceHVR Energy financial estimates
Financial estimateRevenue estimate
Valuation estimate
HVR Energy leadership team
Management profileNumber of profiles
Profiles9 records
HVR Energy funding detail
Funding detailFunding overview
Funding rounds5 records
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
HVR Energy M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about HVR Energy
What does HVR Energy do?
HVR Energy designs, deploys, and operates a modular hydrogen refueling station network across Spain for road mobility. Its ACTIVA and INICIA stations integrate into existing service stations with minimal civil works (20 m² footprint, 15 kW power), supporting 350 bar (heavy transport) and 700 bar (light vehicles) dispensing via transported hydrogen at ≥500 bar. The company sells hydrogen and rents stations on a pay-per-use / all-inclusive basis, eliminating upfront CAPEX for fleet operators and station owners.
Is HVR Energy a public or private company?
HVR Energy is a private company. It is classified as corporate owned and is currently operating.
When was HVR Energy founded?
HVR Energy was founded in 2023. It employs 1 to 10 people.
Where is HVR Energy based?
HVR Energy is headquartered in Madrid, Spain, in the Europe region.
How does HVR Energy make money?
Three revenue lines are on record. Hydrogen Sales are the primary driver. The others are station Rental (All-Inclusive) and station Deployment & Project Management.
Who are HVR Energy's main competitors?
Direct peers on record are Nel ASA, McPhy Energy and ITM Power. Broad incumbents are Air Liquide, Enagás (Scale Green Energy), Repsol, TotalEnergies, Shell (Shell Mobility) and Iberdrola. Plug Power is listed as an emerging player.
Does HVR Energy have an API?
No public API is recorded for HVR Energy.
What industry is HVR Energy in?
HVR Energy's product category is Hydrogen Refueling Infrastructure. Its primary akta.pro industry code is THAIANAF, Fueling, Charging & Energy Management (Diesel/CNG/H2/EV), with a secondary code of TLABAIAI, Fleet Fuel & Energy Management (Fuel Programs, EV Charging Ops). Its NAICS code is 45721 and its SIC code is 4700.