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AICEP
Agência para o Investimento e Comércio Externo de Portugal

CABEÇALHO

Air Liquide, TotalEnergies and VINCI, are combining forces with other large international companies to sponsor the creation of the world’s largest fund exclusively dedicated to clean hydrogen infrastructure solutions.

The fund aims to reach 1.5 billion euros and has already secured initial commitments of

800 million euros. Its objective is to accelerate the growth of the clean hydrogen ecosystem by investing in

large strategic projects and leveraging the alliance of industrial and financial players.

 

The clean hydrogen infrastructure fund will invest in the entire value chain of renewable and low carbon

hydrogen, in the most promising regions in the Americas, Asia and Europe. It will invest as a partner,

alongside other key project developers and/or industry players, in large upstream and downstream clean

hydrogen projects. Total commitments to the fund have already reached 800 million euros out of a target of

around 1.5 billion euros at signature.

 

Air Liquide, TotalEnergies and VINCI Concessions have been at the forefront of setting up and aggregating

commitments to this clean hydrogen infrastructure fund. As anchor partners, fully committed to low carbon

and renewable hydrogen development, each has pledged to invest 100 million euros. The fund will be

managed by Hy24 , a brand new 50/50 joint venture between Ardian , a world-leading private 1 i nvestment

house and FiveT Hydrogen , a clean hydrogen enabling investment platform. The choice of this fund manager

allows to merge with their similar initiative and to add Plug Power as an anchor partner, as well as Chart

Industries and Baker Hughes joining together.

 

LOTTE Chemical has also confirmed its intention to participate as anchor investor, and is the first Asian

company to join. The fund expects to attract further investments from large financial players, with AXA as

anchor investor. Large international industrial players from North America and Europe, which are strongly

committed to carbon neutrality, also intend to join the initiative as non-anchor partners, such as Groupe ADP,

Ballard, EDF, and Schaeffler .~

 

With solid industrial expertise and significant investment potential, the clean hydrogen infrastructure fund

will have a unique capacity to unlock large scale projects under development and accelerate the scaling up

of hydrogen markets. With the announced support of public policies and some use of debt financing, the

fund should be able to contribute to the development of hydrogen projects with a total value of about 15

billion euros .

 

The hydrogen economy is expected to be key in the fight against climate change. Many countries have

initiated hydrogen-related regulations and support schemes to enable clean hydrogen to help decarbonize

their economies. Hydrogen offers a solution to decarbonize industrial processes and the mobility sector.

Subject to Hy24’s French Market Authority (AMF) accreditation as an Alternative Investment Fund Manager

(AIFM), the platform will be operational in late 2021 and first closing is expected before the end of the year.

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