- It is the world’s first and largest infrastructure fund to invest exclusively in the entire clean hydrogen value chain.
- The €2 billion Fund capital aims to be committed within the next six years.
- The Fund is an Article 9 Fund under European SFDR regulations, which classify funds that meet stringent environmental and social criteria.
Announcing the conclusion of its first impact Fund with €2 billion in allocations, Hy24, the joint venture between FiveT Hydrogen, the clean hydrogen investment partner, and Ardian, the top private investment house in the world, has surpassed its initial goals as reported by Hy24.
It is the first and biggest infrastructure fund in the world to invest solely in the complete value chain for clean hydrogen.
The initial anchor investors Air Liquide, VINCI Concessions, TotalEnergies, Plug Power, Chart Industries, and Baker Hughes contributed to the foundation of the Fund. Since then, it has drawn more than 50 notable investors from 13 different nations in the Americas, Europe, and Asia, including large industrial companies, corporations, banks, pension funds, and insurance companies – industrial anchor investors like LOTTE Chemical, Airbus, and Snam, Enagás, and GRTgaz (joined as one anchor partner) – and financial anchor investors like AXA, Crédit Agricole Assurances, CCR, Allianz, CDPQ, and JBIC
Clean H2 Infra Fund
The Fund closes now with a new key industrial investor the CMA CGM Group, and new key financial investors Border to Coast Pensions Partnership, Nuveen, ERAFP, Groupama, Société Générale Assurances, BBVA and Norinchukin.
The Fund leverages a unique blend of sector know-how and financial firepower to position Hy24 as a true catalyst at the heart of the hydrogen ecosystem, with 50% of its commitment provided by industrial investors.
Pierre-Etienne Franc, co-founder and CEO of Hy24, 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 decarbonize the global economy.
This creates the right support for the new and critical hydrogen policy frameworks in our key geographies.”
Clean hydrogen economy
Laurent Fayollas, Deputy Head of Infrastructure at Ardian and President of Hy24, added: “We are extremely grateful for the trust and support of our investors.
The combination of Ardian’s unique investment and asset management expertise, FiveT Hydrogen’s industry knowledge, the diversity of our investors and our ability to leverage Hy24’s strong deal flow will put us in a unique position to grow this industry at scale into a decisive asset class.”
Hy24 is driving the scale-up of the clean hydrogen economy with first-mover investment in sustainable projects.
The €2 billion Fund capital aims to be committed within the next six years.
The Fund is an Article 9 Fund under European SFDR regulations, which classify funds that meet stringent environmental and social criteria.
The capital raised through the Fund has already started to be deployed: The Fund has participated in the €110 million fundraising of H2 MOBILITY Deutschland, the operator of Europe’s largest network of hydrogen stations.
In addition, the Fund has participated in the €200 million financing round of Hy2Gen, an operator of production sites for decarbonized hydrogen and its derivatives, with CDPQ as a co-investor.
The climate crisis and geopolitical turmoil in energy markets require accelerating the development of hydrogen as the vector most suited to decarbonize heavy mobility and energy-intense industries.
From the U.S.’s Inflation Reduction Act to the E.U.’s RePowerEU, governments around the world have acknowledged the need for the deployment of clean hydrogen at a scale and pace conducive to reaching net-zero ambitions.
It is estimated that clean hydrogen solutions could represent up to 20% of the final energy demand within the 2050 net-zero agenda.
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