TotalEnergies, a major energy firm, has made an investment in the Japan Hydrogen Fund to boost the development of the low-carbon hydrogen value chain.
Several high-profile Japanese companies such as Toyota Motor Corporation, Iwatani Corporation, Sumitomo Mitsui Banking Corporation, MUFG Bank, Tokyo Century Corporation, Japan Green Investment Corp, and the Bank of Fukuoka have pledged over $400 million to the Japan Hydrogen Fund during its initial phase.
The fund will be managed by Advantage Partners, a Japanese private equity firm, and was initiated by the Japan Hydrogen Association (JH2A). This private council is dedicated to promoting hydrogen and includes over 440 members collaborating on sustainable hydrogen development.
Helle Kristoffersen, the president of Asia at TotalEnergies, expressed the company’s enthusiasm for supporting the fund. “TotalEnergies is pleased to support an ambitious fund dedicated to developing the hydrogen value chain in Japan and globally, as the only non-Japanese investor at this stage. We are convinced that only a collective effort will enable low-carbon hydrogen solutions to emerge on an industrial scale.”
This funding follows the previous establishment of the Hy24 clean hydrogen infrastructure fund in 2021 by TotalEnergies in collaboration with Air Liquide and VINCI.
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