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Laxman Pai, Opalesque Asia: Investment giant Ardian has teamed with FiveT Hydrogen to create Hy24, which it hopes will become the world's largest clean hydrogen infrastructure investment platform.
Hy24 is targeting €1.5bn ($1.74bn) for its first fund, making the platform the industry's largest clean hydrogen infrastructure manager.
The French private equity player Ardian and H2-focused asset manager - the 50/50 co-owners - say that €800m has "already been committed by a leading group of industrial and financial investors active in clean hydrogen", including the three companies mentioned above, as well as fuel-cell and electrolyzer manufacturer Plus Power, oil & gas services giant Baker Hughes, and Chart Industries, which makes equipment for the clean and fossil energy sectors, including hydrogen storage tanks.
The low-carbon hydrogen investment fund is backed by €100m commitments from French anchor investors TotalEnergies, Air Liquide, and construction giant Vinci.
Plug Power, Chart Industries, and Baker Hughes together (as former cornerstone investors in FiveT Hydrogen), who are also joining as anchor investors.
LOTTE Chemical, a large Asian industrial Group, also confirmed its intention to join as an anchor investor, and so will AXA, a major institutional investor. Other large international industrial players, all strongly committed to carbon neutrality, also intend to join the initiative. These include: Groupe ADP, Ballard, EDF and Schaeffler. More are e...................... To view our full article Click here
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