Ardian, via its infrastructure business, and FiveT Hydrogen, announced a partnership to create Hy24, an equally owned joint venture.
In order to invest in projects that are crucial for global decarbonization, Hy24 will grow to be the world’s largest clean hydrogen infrastructure investment platform.
For its inaugural fund, Hy24 aims to raise €1.5 billion, making it the largest manager of clean hydrogen infrastructure in the sector. A significant industrial and financial investor group operating in clean hydrogen has already invested €800 million of this total.
Air Liquide, TotalEnergies, and VINCI have all vowed to invest €100 million each as anchor investors in low-carbon and renewable hydrogen development. Anchor investors include Plug Power, Chart Industries, and Baker Hughes.
A prominent Asian industrial group, LOTTE Chemical, as well as a major institutional investor, AXA, have reaffirmed their intention to join as anchor investors. Further commitments to carbon neutrality will be made by other major international industrial actors. It’s possible to name a few of these companies. More are on the way.
Hy24 intends to bring together additional institutional investors and industrial firms from around the world to help scale up hydrogen projects all over the world and increase investment capacity. HY24’s first investment fund will be a carbon emission reduction impact fund.