Air Liquide, TotalEnergies, VINCI and a group of international
companies launch the world’s largest clean hydrogen infrastructure
fund
Press
releaseRueil Malmaison, 1st October 2021
Air Liquide,
TotalEnergies, VINCI and a group of
international companies launch the world’s largest
clean hydrogen infrastructure fund
Air Liquide, TotalEnergies and VINCI, are
combining forces with other large 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 euros and has already secured initial
commitments of 800 million euros. 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, in large upstream and
downstream clean hydrogen projects. Total commitments to the fund
have already reached 800 million euros out of a target of around
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 low carbon and renewable hydrogen
development, each has pledged to invest 100 million euros. The fund
will be managed by Hy241, a brand new 50/50 joint venture between
Ardian, a world-leading private investment house and FiveT
Hydrogen, a clean hydrogen enabling investment platform. The choice
of this fund manager allows to merge with their similar initiative
and to add Plug Power as an anchor partner, as well as Chart
Industries and Baker Hughes joining together.
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. Large international
industrial players from North America and Europe, which are
strongly committed to carbon neutrality, also intend to join the
initiative as non-anchor partners, such as Groupe ADP, Ballard,
EDF, and Schaeffler.
With solid industrial expertise and significant
investment potential, the clean hydrogen infrastructure fund will
have a unique capacity to unlock large scale projects under
development and accelerate the scaling up of hydrogen markets. With
the announced support of public policies and some use of debt
financing, the fund should be able to contribute to the development
of hydrogen projects with a total value of about 15 billion
euros.
A global player in concessions, construction and
energy, present in some 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 facilities that contribute to improving daily
life and mobility for everyone. Xavier Huillard, Chairman and CEO
of VINCI declared: “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”.
As a pioneer in hydrogen for over 50 years, Air
Liquide is convinced that hydrogen is a cornerstone of the energy
transition. The Group is providing its unique expertise along the
entire value chain, using hydrogen as a clean energy carrier for
industrial processes and clean mobility. Benoît Potier, Chairman
and CEO of Air Liquide, declared: “Hydrogen has become a central
element of the energy transition. The time to act is now, not only
as companies on a stand-alone basis, but by joining forces with
states, other industrial groups and the financial community. With
the creation of this fund, we are demonstrating our leadership to
participate in a collective dynamic to build momentum. As Air
Liquide, we have already committed to invest approximately 8
billion euros in the low-carbon hydrogen supply chain by 2035. Our
objective is to contribute to the development of the entire value
chain from low-carbon hydrogen production to end-uses, investing in
the necessary infrastructure with storage and distribution
projects. Accelerating on Hydrogen development is key to mitigate
climate change.”
As a broad energy Company, TotalEnergies’
ambition is to get to net-zero emissions by 2050 together with
society for its global business across its production and energy
products used by its customers. Patrick Pouyanné, Chairman and CEO
of TotalEnergies, commented: “We believe that clean, 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, notably to decarbonize the
grey hydrogen used in our European refineries by 2030. We are
convinced that a collective effort is needed to kick-start the
hydrogen sector and take it to scale. We are thus proud to launch
and invest in the Clean hydrogen infrastructure fund, which will
also give us privileged insights in the sector.”
The hydrogen economy is expected to be key in
the fight against climate change. Many countries have initiated
hydrogen-related regulations and support schemes 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 French Market Authority (AMF)
accreditation as an Alternative Investment Fund Manager (AIFM), the
platform will be operational in late 2021 and first closing is
expected before the end of the year.
Contact
VINCIService de presse+33 (0)1 47 16 31
82media.relations@vinci.com |
Contact
Air LiquideCorporate Communicationsmedia@airliquide.com
Investor RelationsIRTeam@airliquide.com |
Contact TotalEnergiesMedia
Relations+33 1 47 44 46 99 presse@totalenergies.com Investor
Relations+44 (0)207 719 7962 ir@totalenergies.com |
About VINCIVINCI is a global
player in concessions, construction and energy businesses,
employing more than 217,000 people in some 100 countries. We
design, finance, build and operate infrastructure and facilities
that help improve daily life and mobility for all. Because we
believe in all-round performance, we are committed to operating in
an environmentally, socially responsible and ethical manner. And
because our projects are in the public interest, we consider that
reaching out to all our stakeholders and engaging in dialogue with
them is essential in the conduct of our business activities. Based
on that approach, VINCI’s ambition is to create long-term value for
its customers, shareholders, employees, partners and society in
general. www.vinci.com
About Air LiquideA 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 essential small molecules for
life, matter and energy. They embody Air Liquide’s scientific
territory and have been at the core of the company’s activities
since its creation in 1902. Air Liquide’s ambition is to be a
leader in its industry, deliver long term performance and
contribute to sustainability - with a strong commitment to climate
change and energy transition at the heart of its strategy. The
company’s customer-centric transformation strategy aims at
profitable, regular and responsible growth over the long term. It
relies on operational excellence, selective investments, open
innovation and a network organization implemented by the Group
worldwide. Through the commitment and inventiveness of its people,
Air Liquide leverages energy and environment transition, changes in
healthcare and digitization, and delivers greater value to all its
stakeholders. Air Liquide’s revenue amounted to more than 20
billion euros in 2020. Air Liquide is listed on the Euronext Paris
stock exchange (compartment A) and belongs to the CAC 40, EURO
STOXX 50 and FTSE4Good indexesFor more information please visit:
www.airliquide.com
About
TotalEnergiesTotalEnergies is a broad energy
company that produces and markets energies on a global scale: oil
and biofuels, natural gas and green gases, renewables 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. Active in more than 130 countries,
TotalEnergies puts sustainable development in all its dimensions at
the heart of its projects and operations to contribute to the
well-being of people.
1 www.hy24partners.com
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