Ardian and FiveT Hydrogen have launched a joint venture partnership to create Hy24, the world’s largest investment platform focused on clean hydrogen infrastructure.
With a €1.5 billion ($1.7 billion) equity fundraising target for its first fund, Hy24 will invest in projects that are critical to global decarbonization. Hy24 plans to bring together additional international institutional investors and industrial companies to provide scale and investing capability for hydrogen projects around the world.
Hy24’s first fund will be set up and managed as an impact fund, with the aim to reduce global carbon emissions, and will scale proven technologies toward mature infrastructure assets generating predictable cash flows. The portfolio will be diversified across Europe, the Americas and Asia, as well as across value chains, from upstream projects, such as green hydrogen production, to downstream projects, such as captive fleet and refueling stations.
Some €800 m
