One of the biggest hydrogen value chain investment funds in the world has added CMA CGM Group as a new industrial stakeholder.
CMA CGM has joined Hy24 as a key industrial investor, and the two companies have announced the closure of €2 billion ($1.94 billion) in allocations in the Clean H2 Infra Fund, the world’s first and largest infrastructure fund to invest in the complete clean hydrogen chain.
The fund aspires to contribute to the decarbonization of the global economy by concentrating on scaling up proven hydrogen solutions for mature infrastructure assets.
Hy24 hopes to mobilize up to €20 billion ($19.4 billion) in investment capacity over the next six years with the help of financing, expertise, and a workforce with plenty of experience.
To expand the clean hydrogen economy, the portfolio will be diversified throughout upstream and downstream value chains and across continents (Europe, the Americas, and Asia).
Hy24 is a partnership between private investment firm Ardian and clean hydrogen investment partner FiveT Hydrogen. Air Liquide, VINCI Concessions, TotalEnergies, Plug Power, Chart Industries, and Baker Hughes were the initial anchor investors in the fund.
LOTTE Chemical, Airbus, Snam, Enagás, GRTgaz (joined as one anchor partner), and the financial anchor investors AXA, Crédit Agricole Assurances, CCR, Allianz, CDPQ, and JBIC are among the other investors.
The CMA CGM Group has joined the fund as a key industrial investor, and Border to Coast Pensions Partnership, Nuveen, ERAFP, Groupama, Société Générale Assurances, BBVA, and Norinchukin have joined as key financial investors.