World’s first clean hydrogen fund closes

Hy24, the joint venture between FiveT Hydrogen, the clean hydrogen-enabling investment partner, and private investment house, Ardian, has announced the close of its first impact fund at €2 billion of allocations, far in excess of its initial ambitions.

The fund is the world’s first – and largest – infrastructure fund to invest exclusively in the entire clean hydrogen value chain.

The fund was supported by founding anchor investors Air Liquide, VINCI Concessions, TotalEnergies, Plug Power, Chart Industries and Baker Hughes.

It has attracted more than 50 prominent investors from 13 countries across industrial and corporate sectors, corporations, banks, pension funds and insurance companies, including Border to Coast, which made a €100 million allocation.

Pierre-Etienne Franc, co-founder and CEO of Hy24, said: “Hy24, through the Clean H2 Infra Fund, has rapidly gathered an impressive group of industrial and financial leaders committed to moving the hydrogen agenda forward significantly.

“With €2 billion of commitments, this fund will spur on the deployment of up to €20 billion in assets of strategic value to the industry in the next six years, performing for our investors and helping to decarbonise the global economy.

“This creates the right support for the new and critical hydrogen policy frameworks in our key geographies.”