PARIS–(BUSINESS WIRE)–Regulatory news:
Liquid air (Paris:AI), TotalEnergies and VINCI, are joining forces with other major international companies to sponsor the creation of the world’s largest fund exclusively dedicated to clean hydrogen infrastructure solutions. The fund aims to reach €1.5 billion and has already secured initial commitments of €800 million. Its objective is to accelerate the growth of the clean hydrogen ecosystem by investing in major strategic projects and relying on the alliance of industrial and financial players.
The Clean Hydrogen Infrastructure Fund will invest across the entire renewable and low-carbon hydrogen value chain, in the most promising regions of the Americas, Asia and Europe. It will invest as a partner, alongside other key project developers and/or industrial players, in large upstream and downstream clean hydrogen projects. The fund’s total commitments have already reached 800 million euros out of a target of approximately 1.5 billion euros at signature.
Air Liquide, TotalEnergies and VINCI Concessions have been at the forefront of setting up and aggregating commitments to this clean hydrogen infrastructure fund. As anchor partners, fully committed to the development of low carbon and renewable hydrogen, each has committed to investing 100 million euros. The fund will be managed by Hy241, a brand new 50/50 joint venture between Ardiana world leader in private investment and FiveT Hydrogen, an investment platform promoting clean hydrogen. The choice of this fund manager makes it possible to merge with their similar initiative and add Plug hole as an anchor partner, as well as Chart Industries and hugue baker To join.
CHEMICAL MONKFISH has also confirmed its intention to participate as lead investor and is the first Asian company to join us. The fund expects to attract new investment from major financial players, with AXA as an anchor investor. Major international industrial players from North America and Europe, strongly committed to carbon neutrality, also intend to join the initiative as non-anchored partners, such as ADP Group, Ballard, EDF, and Schaeffler.
With solid industrial expertise and significant investment potential, the clean hydrogen infrastructure fund will have a unique ability to unlock large-scale projects under development and accelerate the scaling of hydrogen markets. With the announced support of public policies and some recourse to debt financing, the fund should be able to contribute to the development of hydrogen projects with a total value of around 15 billion euros.
A pioneer in hydrogen for more than 50 years, Air Liquide is convinced that hydrogen is a cornerstone of the energy transition. The Group brings its unique expertise across the entire value chain, using hydrogen as a clean energy vector for industrial processes and clean mobility. Benoît Potier, Chairman and CEO of Air Liquidesaid : “Hydrogen has become a central element of the energy transition. Now is the time to act, not just as companies on a stand-alone basis, but in partnership with states, other industry groups and the financial community. With the creation of this fund, we are demonstrating our leadership in participating in a collective dynamic to create momentum. As Air Liquide, we have already committed to invest approximately €8 billion in the low-carbon hydrogen supply chain by 2035. Our goal is to contribute to the development of the entire supply chain. value, from low-carbon hydrogen production to end uses, by investing in the necessary infrastructure with storage and distribution projects. Accelerating hydrogen development is key to mitigating climate change.
As a major energy company, TotalEnergies’ ambition is to achieve net zero emissions by 2050 with the company for its global business through its production and the energy products used by its customers. Patrick Pouyanné, Chairman and CEO of TotalEnergies, said: “We believe that clean and renewable hydrogen will play a key role in the energy transition, and TotalEnergies wants to be a pioneer in its mass production. We are currently working on several projects, in particular to decarbonize the gray hydrogen used in our European refineries by 2030. We are convinced that a collective effort is necessary to revive the hydrogen sector and bring it to scale. We are therefore proud to launch and invest in the Clean Hydrogen Infrastructure Fund, which will also give us insider insight into the sector.
A global player in concessions, construction and energy, present in around 100 countries, VINCI is actively committed to Net Zero Emission by implementing an ambitious environmental policy. Its mission is to design, finance, build and operate infrastructure and equipment that help improve daily life and mobility for everyone. Xavier Huillard, Chairman and CEO of VINCIsaid : “VINCI is taking concrete action to support the development of clean energies by mobilizing all of its concessions, construction and energy divisions, with the aim of actively combating climate change and decarbonizing mobility in particular. By launching this investment fund today, hand in hand with other major industrial leaders, we are continuing to move forward to make green hydrogen a strong lever in achieving our objectives”.
The hydrogen economy should play a key role in the fight against climate change. Many countries have launched hydrogen-related regulations and support programs to enable clean hydrogen to help decarbonize their economies. Hydrogen offers a solution to decarbonize industrial processes and the mobility sector.
Subject to Hy24’s approval by the French Markets Authority (AMF) as an alternative investment fund manager (AIFM), the platform will be operational at the end of 2021 and a first closing is expected before the end of the year.
About Air Liquide
World leader in gases, technologies and services for Industry and Health, Air Liquide is present in 78 countries with approximately 64,500 employees and serves more than 3.8 million customers and patients. Oxygen, nitrogen and hydrogen are small molecules essential to life, matter and energy. They embody the scientific territory of Air Liquide and have been at the heart of the company’s activities since its creation in 1902.
Air Liquide’s ambition is to be a leader in its industry, to deliver long-term performance and to contribute to sustainable development – with a strong commitment to climate change and energy transition at the heart of its strategy. . The company’s customer-centric transformation strategy aims for profitable, steady and responsible growth over the long term. It relies on operational excellence, selective investments, open innovation and a network organization set up by the Group around the world. Thanks to the commitment and inventiveness of its employees, Air Liquide relies on the energy and environmental transition, changes in health and digitalization, and brings more value to all of its stakeholders.
Air Liquide’s turnover amounted to more than 20 billion euros in 2020. Air Liquide is listed on the Euronext Paris stock exchange (compartment A) and is part of the CAC 40, EURO STOXX 50 indices and FTSE4Good
For more information, visit: www.airliquide.com
TotalEnergies is a major energy company that produces and markets energies on a global scale: oil and biofuels, natural gas and green gases, renewable energies and electricity. Our 105,000 employees are committed to energy that is ever more affordable, clean, reliable and accessible to as many people as possible. Present in more than 130 countries, TotalEnergies places sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
VINCI is a global player in concessions, construction and energy, employing more than 217,000 people in around 100 countries. We design, finance, build and operate infrastructure and equipment that help improve daily life and mobility for everyone. Because we believe in overall performance, beyond economic and financial results, we are committed to operating in an environmentally and socially responsible manner. And because our projects are of general interest, we consider that meeting all our stakeholders and dialoguing with them is essential in the conduct of our activities. VINCI’s ambition is to create long-term value for its customers, shareholders, employees, partners and society in general. www.vinci.com