The world’s largest fund dedicated exclusively to clean hydrogen infrastructure solutions with a total investment of EUR1.5 billion (USD1.7 billion) was launched with Air Liquide, TotalEnergies, and Vinci as anchor investors.
The fund has already secured initial commitments of EUR800 million (USD928.27 million) where each of Air Liquide, TotalEnergies, and Vinci have each pledged investment of EUR100 million (USD116 million) and Lotte Chemical has also confirmed its intention to participate as an anchor investor.
The fund aims to accelerate the growth of the clean hydrogen ecosystem by investing in large strategic projects and leveraging the alliance of industrial and financial players. It will invest in the entire renewable and low-carbon hydrogen value chain in the Americas, Asia, and Europe.
The fund will be managed by Hy24, a new joint venture (JV) between private equity firm Ardian and FiveT Hydrogen, a clean hydrogen-enabling investment platform. It is set to be operational by late 2021, with the first closing expected before the end of the year.
In the future, there is a probability for the fund to add Plug Power as an anchor partner, as well as Chart Industries and Baker Hughes joining together. It also estimated further investments from big financial players such as Axa as another anchor investor, with other non-anchor partners expected to include Groupe ADP, Ballard, EDF, and Schaeffler.
