Total SE is making an investment as part of a small funding round in U.S. fuel cell truck startup Hyzon Motors, an effort by the French oil giant to boost development of cleaner energy sources.
The strategic investment was made by the company’s venture-capital arm, Total Carbon Neutrality Ventures, and included other investors such as Ascent Hydrogen Fund, Hydrogen Capital Partners and Audacy Ventures Ltd. The size of the round was not disclosed but totaled more than $15 million and valued Hyzon at around $200 million, according to people familiar with the matter. It could rise to $20 million, said the people, who asked not to be named discussing private information.
