Maharlika Carbon, Francisco Motors, and NetZero Global Forge an Alliance to Revolutionize and Decarbonize the Philippines Transport Industry

Manila, Philippines — 18th of March 2024 — In a notable step toward reshaping transportation and addressing environmental concerns in the Philippines, Francisco Motors and NetZero Global have announced a significant collaboration with Maharlika Carbon. This partnership, valued at US$14 billion, aims to introduce hydrogen-powered vehicles to the country’s public transportation system.

The collaboration between Francisco Motors, known for its innovative approach to automotive manufacturing, and NetZero Global, a leader in environmental ventures, represents a significant milestone in the pursuit of a decarbonized and energy-independent Philippines. Together, they plan to manufacture or repurpose hydrogen-powered vehicles, including jeepneys, utility vehicles, buses, and taxis, within the country. This initiative is expected to offer both economic and environmental benefits, such as job creation, technology transfer, and reduction of carbon emissions.

Transitioning to a hydrogen economy holds promise for reducing greenhouse gas emissions, enhancing energy security, and fostering economic growth. By reducing the need for foreign exchange payments for fossil fuels, the Philippines can strengthen its economic resilience and achieve greater energy self-sufficiency. Moreover, the adoption of hydrogen-powered vehicles is anticipated to mitigate climate change and alleviate roadside pollution, contributing to environmental preservation.

Aligned with global environmental commitments, Francisco Motors and NetZero Global have collaborated with Maharlika Carbon, the Philippines Article 6 Registry, to access climate finance under Article 6 of The Paris Agreement. This collaboration aims to support the Philippines’ Nationally Determined Contributions and facilitate the trading of Internationally Transferred Mitigation Outcomes (ITMOs). With an investment of US$5 billion, this alliance seeks to develop and deploy hydrogen-powered transportation infrastructure, solidifying the Philippines’ role as a leader in Article 6 initiatives.

The collaborative efforts of Francisco Motors, NetZero Global, and Maharlika Carbon embody a shared vision for a sustainable future characterized by economic prosperity, environmental preservation, and social equity. Through innovation, partnership, and collective action, these organizations aspire to drive meaningful change and leave a lasting legacy for future generations. Stay tuned for updates as they embark on this transformative journey to reshape the future of transportation and environmental practices in the Philippines.

For media inquiries and further information, please contact:

– Francisco Motors: Elmer Francisco (info@jeepney.io)
– NetZero Global: Daniel Russell (daniel@netzero.global)
– Maharlika Carbon: Ana-Maria Santos (ana.maria@maharlikacarbon.com)

Hydrogen Economy (Further Information)

A hydrogen economy represents an economic system in which hydrogen gas (H2) serves as a primary energy carrier, offering various economic and environmental benefits. Embracing hydrogen technology can unlock opportunities for economic growth, reduce carbon emissions, and promote sustainability.