TotalEnergies, Air Liquide and Vinci announced the launch of what they said would be the world’s largest clean hydrogen infrastructure fund, as companies increase their presence in the green energy sector.
The fund aims to reach 1.5 billion euros and has already secured initial commitments of 800 million euros. Its objective is to accelerate the growth of the clean hydrogen ecosystem by investing in large strategic projects and leveraging the alliance of industrial and financial players.
“We believe that clean, renewable hydrogen will play a key role in the energy transition, and TotalEnergies wants to be a pioneer in its mass production,” said TotalEnergies Chairman and CEO Patrick Pouyanne.
The clean hydrogen infrastructure fund will invest in the entire value chain of renewable and low carbon hydrogen, in the most promising regions in the Americas, Asia and Europe. It will invest as a partner, alongside other key project developers and industry players, in large upstream and downstream clean hydrogen projects.
The fund will be managed by Hy24, a brand new 50/50 joint venture between Ardian, a world-leading private investment house and FiveT Hydrogen, a clean hydrogen enabling investment platform.
The hydrogen economy is expected to be key in the fight against climate change. Many countries have initiated hydrogen-related regulations and support schemes to enable clean hydrogen to help decarbonize their economies. Hydrogen offers a solution to decarbonize industrial processes and the mobility sector.