A consortium of hydrogen heavyweights have joined forces to accelerate the clean hydrogen movement, with the formation of a brand-new hydrogen infrastructure fund aiming to raise €1.5bn to support both project developments and players in the market.
Air Liquide, TotalEnergies and VINCI are behind the effort that has already secured an initial €800m, the trio confirmed today (Oct 1). Expanding beyond the anchor partners, work for the fund will also see further collaboration with other international companies.
Managing the fund will be Hy24, a brand-new 50/50 joint venture between private investment house Ardian and Five T Hydrogen, a pureplay clean hydrogen investment fund launched back in April (2021).
With management of the fund being led by Hy24, it gives great opportunities to merge with the likes of Plug Power, Chart Industries and Baker Hughes, all of which are cornerstone investors in Five T Hydrogen.
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