Hyroad Energy

Hyroad Energy

Hyroad Energy, based in Phoenix, Arizona, was founded by Dmitry Serov, formerly an investments director at commodity trading firm Vitol and an energy-focused private equity investor at First Reserve Corporation. The company absorbed operational talent from Nikola Motor Company, including David Strcic (VP Commercial & Sales), Brett Cook (VP Operations), and Mike Archibald (Head of Hydrogen Infrastructure). Serov identified a barrier to hydrogen adoption: the fragmentation between truck procurement, fueling infrastructure, and maintenance. Hyroad addresses that gap with a trucking-as-a-service model that bundles hydrogen fuel cell trucks, strategically located refueling stations, and ongoing maintenance into a single pay-per-mile price. The firm targets class-8 heavy-duty trucks, an asset class that produces a disproportionate share of transport emissions. It designs its hydrogen stations around trucking hubs and arteries, with a network plan optimized for fuel cost — aiming to reach diesel cost parity through scale. The company does not disclose deployment amounts or external investors. The leadership team draws from energy firms (BP, Vitol), engineering consultancies, and clean-tech startups. Several executives came from Nikola Motor Company — the vehicle manufacturer that filed for Chapter 11 in early 2025 (per Reuters, February 2025) — bringing hands-on experience building hydrogen stations and fueling operations. Hyroad operates as a standalone entity focused exclusively on hydrogen infrastructure for freight, not vehicle manufacturing. Hyroad's structural differentiator is its bundling — it absorbs capital expenditure and operational complexity so fleet operators can convert to zero-emission trucks without upfront investment. That model mirrors the managed-services approach common in solar and energy-as-a-service, but adapted for heavy-duty trucking. The firm does not disclose whether it operates as a single-family office, a corporate spinout, or a privately held company.