(Paris) – French private equity firm Ardian SAS and Swiss FiveT Hydrogen AG, a clean hydrogen investment platform of the investment house FiveT, plan to establish a joint venture called “Hy24”. The “clean hydrogen investment platform” is aiming for a volume of €1,5 billion for its first fund.
Commitments of 800 million euros
A group of industrial and financial investors has reportedly already committed €800 million. Ardian names the French industrial gas manufacturer Air Liquide SA, the energy supplier Total Energies SA, and the construction company Vinci SA as anchor investors, each contributing €100 million. As previously reported, Air Liquide and Vinci recently announced their collaboration with Airbus to promote the use of hydrogen at airports and expand the European airport network for future hydrogen-powered aircraft.
Ardian names the three US companies Plug Power Inc., a manufacturer of fuel cells, the plant manufacturer Chart Industries Inc. and the oil company Baker Hughes as further anchor investors. In addition, the Korean industrial group Lotte Chemical Corp. also announced its intention to participate as an anchor investor, as did the French insurance group and institutional investor AXA Group. The French airport operator Aéroports de Paris (Groupe ADP), the Canadian fuel cell manufacturer Ballard Power System, the energy company EDF SA and the German supplier to the automotive and mechanical engineering industry Schaeffler AG also want to invest in the fund.
Hy24 plans to bring together other international institutional investors and industrial companies to create global investment opportunities for hydrogen projects. The merger will create the “largest partner for energy companies and investors who want to advance the expansion of the hydrogen infrastructure,” explains Ardian in a statement.
Hy24's first fund will build a portfolio across different regions (Europe, America, Asia) and value chains, from upstream projects such as green hydrogen production to downstream projects such as consumption fleets and refueling stations. The aim of the investments is to reduce global carbon emissions.
The board of Hy24 consists of Laurent Fayollas (President), Pierre-Etienne Franc (CEO), Amir Sharifi (Chief Investment Officer), Nicolas Brahy (General Counsel, Public Affairs and ESG Director) and Sébastien Paillat (Managing Director, Investments). We are currently in the process of building a team that will work in France, Switzerland, the USA and Singapore. Pierre-Etienne Franc, co-founder and managing director of FiveT Hydrogen, expects “that through this unique partnership we will be able to mobilize investments of 15 billion euros, which will serve as a catalyst for the rapid expansion of the industry.”
deep link
https://www.hy24partners.com/press-release-hy24-joint-venture/
Photos
© Deutsche Bundesbank
