The hydrogen impact fund's portfolio of projects will focus on upstream projects such as renewable and low-carbon hydrogen production and downstream projects that include captive fleet and refuelling stations
Hy24 closes clean hydrogen infrastructure fund at €2bn. (Credit: georgiusevenson from Pixabay)
Hy24 has announced the closing of its first hydrogen impact fund called Clean H2 Infra Fund at €2bn for investing exclusively in the entire clean hydrogen value chain.
The fund capital is expected to be committed in the next six years, said Hy24, which is a 50-50 joint venture between private investment company Ardian and clean hydrogen investment platform FiveT Hydrogen.
The Clean H2 Infra Fund will focus on scaling proven hydrogen technologies for mature infrastructure assets with an intention of significantly contributing to the decarbonisation of the global economy.
Hy24 co-founder and CEO Pierre-Etienne Franc said: “Hy24, through the Clean H2 Infra Fund, has rapidly gathered an impressive group of industrial and financial leaders committed to moving the hydrogen agenda forward significantly.
“With €2 billion of commitments, this fund will spur on the deployment of up to €20 billion in assets of strategic value to the industry in the next six years, performing for our investors and helping to decarbonise the global economy.
“This creates the right support for the new and critical hydrogen policy frameworks in our key geographies.”
The hydrogen impact fund’s portfolio of projects will focus on upstream projects such as renewable and low-carbon hydrogen production and downstream projects like captive fleet and refuelling stations across Europe, the Americas, and Asia.
The Clean H2 Infra Fund has been created with contributions from its founding investors, namely Air Liquide, TotalEnergies, VINCI Concessions, Chart Industries, Plug Power, and Baker Hughes. It is also said to have brought in over 50 investors from 13 countries.
A part of the capital raised through the hydrogen impact fund has already been deployed to take part in Hy2Gen’s €200m financing round with CDPQ as a co-investor.
The Clean H2 Infra Fund has also invested in H2 MOBILITY Deutschland’s €110m fundraising and for acquiring a 30% stake in Enagás Renovable, a subsidiary of Enagás.
Hy24 hopes to raise up to €20bn of investment capacity over the next six years.