Air Liquide, TotalEnergies and Vinci are combining forces with other large international companies to sponsor the creation of what is claimed to be the world’s largest fund exclusively dedicated to clean hydrogen infrastructure solutions. The fund aims to reach €1.5bn (£1.3bn) and has already secured initial commitments of €800m.
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.
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/or industry players.
Air Liquide, TotalEnergies and Vinci Concessions are anchor partner in the fund and each has pledged to invest €100m.
The fund will be managed by Hy241, a new 50/50 joint venture between Ardian - a private investment house - and FiveT Hydrogen, a platform aimed at enabling investment in clean hydrogen.
Lotte Chemical has also confirmed its intention to participate as anchor investor, and is the first Asian company to join. The fund expects to attract further investments from large financial players, with AXA as anchor investor. Major international industrial players from North America and Europe also intend to join the initiative as non-anchor partners, such as Groupe ADP, Ballard, EDF, and Schaeffler.
Xavier Huillard, chairman and CEO of Vinci, said: “Vinci is taking concrete action to support the development of clean energy by mobilising all its divisions in concessions, construction and energy, with the aim of actively combating climate change and decarbonising mobility in particular. By launching this investment fund today, hand in hand with other major industrial leaders, we keep moving forward to make green hydrogen a strong lever in achieving our objectives.”
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