Hy24, Mirova, CDPQ and Technip Energies invest €200M in green hydrogen

hy24, mirova, cdpq and technip energies invest €200m in green hydrogen
The green hydrogen investment platform Hy2gen has closed a €200 million funding round.

The funds will be used to build facilities in a variety of locations, including Europe, to produce green hydrogen-based fuels (also known as “e-fuels”) for maritime and ground transportation, aviation, and industrial applications. Hy24, Mirova, CDPQ, and strategic investor Technip Energies are leading the investment, which is the largest private green hydrogen-focused capital raise to date1.

Cyril Dufau-Sansot, CEO of Hy2gen said: “As early as 2021, we were looking for the best possible combination of financial and strategic investors to build e-fuel production facilities. These have the potential to decarbonise entire industries and transport sectors. We are now very pleased that all parties have sealed the largest investment in this segment.”

Pierre-Etienne Franc, CEO of Hy24 said: “The magic combination for success in Hydrogen scale up is sizable projects in strategic basins, strong stakeholder support from off-take to project financing and execution, and the leadership of expert teams for development and steering. This is what Hy2gen has successfully gathered around the table. This first investment made by our Clean H2 Fund allows Hy24 to step into its role as a catalyst for hydrogen-based projects at scale to foster the energy transition.”

Hy24, the world’s largest clean hydrogen infrastructure platform, is a joint venture between Ardian, a leading private investment firm, and FiveT Hydrogen, a clean hydrogen-focused investment manager. The €1 billion Clean H2 Infra Fund, managed by Hy24, aims to accelerate the scaling up of hydrogen markets by unlocking strategic and large-scale projects currently in development.

Raphaël Lance, Head of Mirova’s Energy Transition Infrastructure Funds said: “Mirova is committed to financing sustainable solutions for the energy transition. We are convinced that green hydrogen has a key role to play in the decarbonisation of the industry and are proud to partner with Hy2gen and support their ambition to become a key player in the deployment of this energy of the future.”

Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure at CDPQ, said: “CDPQ is delighted to take part in our first green hydrogen transaction alongside trailblazers of this promising vector of energy, one which has the potential to accelerate the decarbonisation of highly polluting industries. With this investment in Hy2gen, we demonstrate our determination to bring concrete and pragmatic solutions to address today’s environmental challenges.”

Arnaud Pieton, Chief Executive Officer of Technip Energies, stated: “We are partnering and investing in Hy2gen, a first mover developer in the green hydrogen value chain. This will further strengthen our key market positioning in green hydrogen and its derivatives. This investment confirms the consistency of our partnership choices to deliver on our strategy. We look forward to contributing our engineering capabilities and our proven project delivery expertise to the concretization and acceleration of Hy2gen projects.”

Anela Dokso

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